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From: John McCarthy	3/30/2006 8:27:42 PM
	of 1182

Cool post ... used 2 gms/ton as the most probable confirmed mean gold density. That results in a total gold resource of about 12 million oz. Assume a heap leach recovery rate of 90 % and we have about 11 million recoverable oz of gold.......in addition to the 1.5 million oz that are statistcally identifable with the core producing mine. Now , assume that we want to recover 500,000 oz per year,the RLI would be about 10 years. Heap leach is generally very cheap way to extract gold, so the cash costs would be about $250/0z or less...and could be much less. Anyway you look at todays deal.............which must have been lined up a couple of months ago.....it was a steal,even at $500 gold. Given Peggy's aggressive , but fiscally conservative acquisition verve, you got to believe that Carolin ,Juneau, and perhaps a gold acquisition proximal to Val D'or will be amonsgt the remaining advances in our production profile for 2006. Then, we take Manhattan..perhaps with Leonard as our trumpeter. stockhouse.ca AZK / MNG / CMM.V / IPT.V / MUG.V PRZFF.PK ( PRZ.V ) / BDRGF.PK ( BGL.V ) RDFVF.PK ( RDV.TO ) / NSM.V

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