ICI was bought out for $250 million.

It had 4.4 million oz of gold split equally between MI and Inferred.

Thats about $55 per oz or about $115 per oz for the M & I.


Gobimins gold discovery have almost identical oz, with more being in the I and Inferred.


Once the 2012 drilling of 30,000 m is added, the Indicated will become mostly Measured and a lot of the Inferred with be upgraded to Indicated, and the over all resource will probably increase to about 5 million.

Of this, at least 3 million oz will be in the M and I cats.

Using $115 per oz, that would be valued at about  $350 million.


In fact, this asset is so valuable, that Gobimin might consider taking it fully into production.

One could see 125,000 per year for 15 years at a cash cost of about $600-$700 /oz.

Cash flows would be simply huge.