RE:RE:Bre-X Minerals is nothing like RNC Minerals, lets be clear. As of a year ago, RNC said the indicated and inferred Beta Hunt gold ore totalled 4,393,000 tonnes. They assume 3.2 grams per tonne, which makes 14,057,600 grams. At today's price for a gram of gold, about C$50.00, that makes C$702,880,000. Now, I believe it was Mark Selby who said in the last conference call that they hope to get at least 4-5 grams per tonne for a long-life mine. Let's say it's 5 grams. That makes C$1,098,250,000...there's your billion.
Now, we know they haven't fully explored the property, so all those numbers could potentially rise. Was it Kevin Small, who said on the conference call, that about the Lunnon Basalt gold structures where they're finding the rich gold, they're just in the infancy of discovering this type of mineralization. He said, "We believe the new structure will lead to resource growth in a potentially high-rated course gold zone across all shears", and improve overall resource grades due to development already done. And as Mark Selby said in the Monday news release, " I believe we have only scratched the surface of the high-grade gold potential from this sediment layer, which is a district-scale feature extending across the entire property. With exploration and development ongoing, we will continue to provide timely updates on this very important gold discovery".