I think your average grades are a bit low for the following reasons, bearing in mind that there is no right or wrong answer, only the numbers that Kodiak will present in their upcoming resource assessment. The 14 mines in the BG area had an average grade of about 13 g/t and the biggest mine ( MacLeod-Cockshutt) produced 1.5 mil oz at an average grade of 5 g/t. Most of these mines operated at a gold price of $ 35/oz and probably had a higher grade cut-off , which means that their average grades would be higher as well. A more recent resource assessment from a BG area player can be found on the Ontex website( ONT). They calculated indicated and inferred gold resources using a 3.4 g/t and 2 g/t grade cutoffs. The corresponding average grades were 10 and 8 g/t for the indicated category and 7 and 5 g/t for the inferred. This suggests to me that 5 g/t is the minimum average grade that should be used for estimates. It appears that Kodiak won't be releasing an assessment until 2010 according to the information posted by DUTCHIE2 yesterday. Once it is released then we'll hear a " Gentlemen, start your calculators" as everyone tries to figure out where the share price is headed. I recall National Bank released a target price for Kodiak of $ 1.75 much earlier this year but that was before the updated Golden Mile long section was issued, so I don't know how they arrived at that estimate. Very interesting and appreciated comparison chart.