It’s not really what the Cameron project is now but what it...

It’s not really what the Cameron project is now but what it could be that counts Bill. Chalice are gambling that the big area might have one or two or more resources like the one at Rainy river resources.

I would expect a aggressive exploration program that Coventry could not afford.
http://www.coventryres.com/s/Cameron.asp

extract
from PEA sudy page only Preliminary Economic Study
PEA HIGHLIGHTS:
• Base case pre-tax NPV of $111 million, 20.1% IRR (at $1,472/oz gold); Pre-tax NPV of $205 million, 31.2% IRR (at $1,700/oz gold) at a discount rate of 5%
• Base case after-tax NPV of $79 million, 17.0% IRR (at $1,472/oz gold); After-tax NPV of $143 million, 25.7% IRR (at $1,700/oz gold) at a discount rate of 5%
• Initial 10 year mine life producing 604,673 ounces of gold from only the Cameron and Dubenski gold deposits
• Average annual production of 61,000 ounces of gold at an average cash cost of $852/oz; Average open-pit diluted grade of 1.96 g/t Au, average diluted underground grade of 2.60 g/t Au
• Life of mine gold recoveries averaging 91.5%

http://www.coventryres.com/s/NewsReleases.asp?ReportID=609407&_Type=News-Releases&_Title=Quarterly-Activities-Report-September-2013
http://www.coventryres.com/s/Corporate.asp

The Company believes there is considerable potential to delineate additional high grade resources with further exploration at the West Cedartree Gold Project. Additional resources could have a significant impact on the economics of developing a mining operation at the Cameron Gold Camp Project. Plans are in place to implement an aggressive exploration program at the highest priority prospects within the Project in the near term.

Coventry has also assembled the largest (133 square kms) land position covering the extensions of the same geological sequence that hosts the Rainy River Deposit, one of Canada's largest gold discoveries in the past decade.

This is part of a large, mostly unexplored Archean belt where management of Coventry has delineated several gold and base metals prospects for follow up drilling in the first quarter 2013. A recent second gold discovery by Rainy River Resources (TSX:RR) supports the theory that there could be other discoveries in this belt.

http://www.rainyriverresources.com/

http://hotcopper.com.au/post_threadview.asp?fid=1&tid=2096552&msgno=9786490#9786490