HARDROCK: next week expect updated resource estimate.
The market is expecting approximately a 2 million - 2.5mm oz resource from the project (70% PG / 30% GRC). The resource may likely come in at the high end of this range reflecting successful results of the 120,000 metre drill program in 2010. Another 120,000 metre program is expected to be drilled in 2011.
The previous (March 2010) Hardrock resource was calculated using a 1 g/t cut-off grade (based on $900 gold). Expectations should be met or possibly exceeded if a 0.6 g/t cut-off grade is used to calculate the new resource.
Expect more drill results soon after 43-101 reserve estimate release. IMHO