Re: More on the Romarco - Tyhee connection.
in response to
by
posted on
Nov 03, 2009 11:59AM
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Quetzal,
You haven't spoiled the party by pointing out that Romarco's total measured and indicated resource has just increased by 34% to 2.17 million ounces.
They've been turning four drills on the Haile property most of this year, so you'd expect a bump up in the their resources. Did you notice that their grades are lower than Tyhee's?
Tyhee, without any new drilling whatsoever will also be adding to its resource this year. Clan Lake cores from years ago are being assayed and Webb and company will be using the results to up their resource estimate this year.
Tyhee, I suspect, with four rigs drilling into higher grades at Clan Lake than what Romarco has shown, would be adding more than the 34% increase they reported. Even in normal times during most of the this decade, Tyhee was adding about 250,000 oz per year. Clan's higher grades would suggest that this average annual increase will be a low ball estimated figure for next year's increase once the results come in from Clan Lake.
The point I was trying to make was that when Romarco's share price blasted-off in February this year, they had LESS M&I ounces than will Tyhee have when Tyhee releases its Pre-Feas.
You didn't spoil anything. In fact, you turned up the music for the party we'll be having early next year, when the price of gold (real and/or nominal) will most likely be significantly higher than it was early this year when Romarco took off.
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