I made a mistake when calculating possible ROI. I was basing it on Osisko's 4B MC and our fully diluted SF of 600M shares and thinking that is would be between 6-7x that share float to get to 4B. However, it would be 6-7 dollars to get to that MC even with our fully diluted share float. That would be 13-15 times our current share price in 3 years. So a possible ROI of 1300-1500% over 3 years if they deliver what they say they can deliver. We still need to see if they can deliver but there is so much upside that even if they deliver half of what they say, the ROI will be fantastic. Now, if gold continues to climb and we start going back to a proper valuation of gold companies, than the ROI just gets crazy.

The guys behind this company are the same guys that were behind Pacific Rubiales and their climb from $2 to $34 so I guess there is some precedent for thinking in such grandiose terms.

In the short term, I will try to find a company with 170k ounces of gold production at a cost of $900 and see where their MC is since this is where we should be in 12 months if the company delivers their 2012 plans.

Glorieux