Re: Average In Situ value on Canaccord list is $102.72
in response to
by
posted on
Apr 02, 2012 03:55PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
Thanks Brad...I was running out of the house this am when I found this link. Even 72 bucks is good and would justify our share price to be around 35-40 cents based on 500k ounces. Knowing this though, I would change the value per 100k ounces to 6 cents.
B-Jay, interesting question. Some of our ore does start at surface so the overburden there is not an issue. Also, I have posted before that the grades do seem to get better at depth. Is this going to be 3g/t, more? less?...hard to say but if we do get better grades at depth, this will be helpful. How common is it for deposits to have overburden...I would think quite common so at this point, I am not too concerned about it.
These are all reasons I look forward to the full technical report. The details will be in that devil. However, the main thing will be can we grow this resource. At 500k ounces, that is all fine and dandy for a first RE but at the end of the day, it will not justify the mining infrastructure. We will need this resource to grow to probably a minimum of 2M ounces. When you look at the land around us, this is certainly possible and much more, especially if we get some decent results from Champagne.
Patience here is still required but I am still holding with confidence,
G.