http://www.straightstocks.com/market-commentary/how-to-value-a-ju...

http://www.straightstocks.com/market-commentary/how-to-value-a-junior-miner?s-gold-in-the-ground/

a) Inferred:
The lowest-confidence category, based on just enough drilling to outline the mineralization.
b) Measured & Indicated (M&I):
These higher-confidence categories have been drilled enough to establish their geometry and continuity reasonably well.
c) Proven & Probable (P&P):
These are bankable mining reserves ? basically Measure and Indicated resources with established value.


? US$20 per ounce Inferred
? US$30 per ounce for M&I
? US$160 per ounce for P&P

So how did you derive your 1.4 billion Rob?