repost: I've got 16.8million ounces now...
in response to
by
posted on
Aug 23, 2008 07:16AM
The company whose shareholders were better than its management
16.8M oz is a 22.6% increase over 13.7M oz.
THAT IS MATERIAL.
An increase of 3.1M oz is more than most companies have in total.
In their August 19 NR PA says " Our consultants have also advised us that they do not anticipate the currently completed drilling will result in a significant material change in the tonnage or grade of the mineral resources at the deposit".
Now either PA and the consultants don't believe that the additional drilling will increase the resources by 3.1M oz or they don't believe that an increase of 3.1M oz is material.
For obvious reasons I tend to agree with Buckshots analysis and believe that PA et al are trying to pull the proverbial wool over our eyes.
In re reading the NR I also note that PA refers to "...an updated resource estimate is underway by Micon International Ltd and P&E Mining Consultants Inc..." PA fails to indicate when this updated estimate will become available.
We need to keep the pressure on.