El Limon: 3.2 million oz @ 3.3g/ton: Open PitAnd we already own 21% of it. Not likely in reserves or resources calculation since it is inferred. Teck owns the other 79% and have done more drilling work lately. If it proves up 3 million oz reserves; we need to buy 2.4 million oz at how much an ounce?
$125 million at $50 in the ground. Then development and mill, equipment, etc. Open pit = fast development. Like the deposit size and grade for open pit, but will look forward to Iveson comment on the geology; 0.7g/t cut-off I think and they used a heady $400/oz in their resource calculations.