St. Elias Mines

There are almost always by- product metals with any resource. Take the Cueva Blanca for instance, when getting a value on that or the Vilcoro or the Tesoro, we just look at the gold and ignore the other metals. The Cueva Blanca is very possibly an epithermal gold system on top of a copper porphyry system. The Vilcoro has silver grades. The Tesoro most likely has other metals that can be profittably extracted during the refining process for gold.

So, if you add in the above for our properties, to match the composition of the European Gold fields aquisition, you will most likely be at a general comparison. So, if BOW uses $150 insitu value for our GOLD, in time , like was discussed here before, value will have to be assigned to the other metals, putting that $150 higher.

You would be better doing a comparison between European Goldfields and Andean Resources, then the picture could be better recognized for how it works. Not all things are the same.