Gob,

OK let's try this.

I was not trying to predict the eventual/final number of oz at Borden. I have enough trouble guessing what Borden has now, based on the available drilled results with my shoebox model. The message I was trying to get out was Barrick's Pueblo Viejo mine in the DR currently has about 30 MozAu and 173MozAg (a huge number, and growing) and they have spent some $3.5B to bring the mine in production.

I don't expect Borden to have that kind of number, may be a bit over 10MozAu  before it's taken out by a major. Let's say a factor of 3 smaller, as a guess (without talking about the eventual number of oz a new owner/producer may find with additional drilling). This would provide some basis for some kind of estimate (very rough) of the order of magnitude for the required Capex for Borden. Some poster said $500M and I was saying approx $1B for a major to develop Borden,  based on this  simple math $3.5B/3 = $1.16B. In my opinion, PRB is not equiped to take on a $1+B project. If PRB really wants to take this deposit to production, then it would time to consider an appropriate exit point. Some shareholders would take the money and run... to some warmer place, if the SP gets to $10/s.

Hope that this would clear things up a bit...or, it's still clear as mud?

goldhunter