$10 per ounce gold, page-4

'Will be interesting to see how we trade once on the Canadian exchange and can be compared to it's close peers by knowledgeable locals.'

Absolutely agree.

And this is the obvious point of comparison - the Rainy River Resources gold project that is 56 km away from CVY (next door in project terms).

http://www.rainyriverresources.com/Theme/RainyRiver2012/files/Presentations/RR%20-%20September%202012%20-%20Corporate%20presentation_v001_u31w2j.pdf

RRS have a similar sized land holding. CVY have better grades. Everything else is a match - location, infrastructure, topography etc.

But this is the massive disconnect:

'Rainy River Resources
June 2012
Basic Shares Outstanding 88.7 million
FD ITM Shares Outstanding 96.9 million
Cash (03/31/2012)
C$80.5 million'

http://www.rainyriverresources.com/Investors/Capital-Structure/default.aspx

Rainy River Resources last traded on the TSX at C$5.15 for a MC of more than A$500 million.

Taking away their $80 million in cash leaves a current EV of around $420 million.

When North American investors are offered CVY on the TSX for around 5% of the cost of RRS (ie, a CVY MC of less than $20 million @ 7.5c) things should get interesting.

And the big buyers looking to hoover up more cheap stock today know that very well.