Re: In Situ calculator
in response to
by
posted on
Feb 19, 2012 06:45PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
It doesn't work that way any more rogue, especially for deposits like this one. You simply can NOT use those metrics with this deposit. We have a world class deposit with a Re-RE that will probably bring in another 300 Mt of much larger CuEq than this past years RE.
That is just the beginning. There are dollars/sh tied to the "Rest of the Stuff". All of the things that Web and Vette have posted over and over and over again for the past years are a simple reminder to the masses that we are not dealing with a typical Andes-style deposit. We are dealing with much bigger deposit that is not even close to fully drilled to width,length or depth and is part of a very large trend. A trend that doesn't have to be proved up to be remunerated with a healthy premium, when you understand the geology.
All that I am saying is that you simply can't ball-park this one with conventional web based calculators, NPV, cents/pound in situ. Whatever. It is MUCH more complicated and our speculation is just that....speculation. I'll give you a great example. A few weeks back we were going crazy wondering about the home run that the assays on 421 would show given what we interpret the Chargeability to mean. The most respected opinions on this board were thinking or speculating a "game changing" hole, and how did that one come back. Not at all bad in any way, just not the way we interpreted it to be. It was exactly what the co was looking for though and we got that in the NR....... a place for the waste.....simple as that.
Let me offer you all an analogy for this ride of ours..........you're on a plane in the back and you hit some turbulence, a lot of turbulence and hell ya you're frightened. You're frightened because you don't understand or anticipate that bump and you are not educated enough to know what it means. On top of that you are not in the driver's seat. Meanwhile the pilot and the co-pilot are cracking jokes, slurping their coffee, whatever. What those speculative thoughts do is seed themselves into the dark part of your thoughts and cause you to question your course, your action, they breed ill-thought. We have a very experienced pilot at the helm, our GPS is working just fine, the landing gear is down folks and it's that last 20 minutes of your transcontinental and we're all itching to be at the baggage carousel. Patience everyone....patience