Re: Some points I'm sure management wouldn't want us to forget...
in response to
by
posted on
Mar 17, 2013 07:01PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
mikxx1, that is an awesome summary & post.
Here is another example from old posts, and the G&S report, actually it's weird how I can't open that file any longer?
Anyone else having trouble opening the G&S report?
Anyway, do you all remember this one? (2.5 Million OZ ):
(This is a cut & paste from the past)
Gluckstein Silverspoon report on Sli June 22, 2010. Indicates reserve estimate of Tesoro not including Anomalies. Full report at:http://www.steliasmines.com/storage/news_releases/SLI%20Analyst%20Report%20-%20June%2022,10.pdf ST. ELIAS MINES [TSX-V: SLI]Drill Program to Ramp Up on Tesoro Gold Property; Setting initial price target and NAVPS estimate
TABLE 4 . Tesoro Project Reserve Extrapolation Method |
||
Scaling Factor Determination from Section of C1 Vein |
||
Key Inputs: |
||
Length |
100 |
meters |
Width |
0.5 |
meters |
Depth |
100 |
meters |
Density of host rock (quartz) |
2.7 |
Tonnes/ meter^3 |
NI 43-101 Inferred Grade |
29 |
grams/tonne |
Estimated Ore Tonnage |
13,500 |
tonnes |
NI 43-101 Inferred Ore Tonnage |
4,290 |
tonnes |
Scaling Factor |
32% |
|
Tesoro Project Reserve Estimation |
||
Key Inputs: |
||
Total Corridor Length |
9,500 |
meters |
Width |
0.5 |
meters |
Vein Depth |
600 |
meters |
Estimated Ore Tonnage |
7,695,000 |
tonnes |
Scaled Ore Tonnage Estimate |
2,445,300 |
tonnes |
Total Tesoro Project Reserves Estimate* |
2,519,151 |
ounces of gold |
* at assumed NI 43-101 grading of 29 grams/ tonne |
Source: management and GS estimates |
For purposes of our analysis, despite the Tesoro Project's vein structures descending to depths of up to 1000meters, we conservatively assume an average depth of 600meters in our ore volume calculations. By multiplying the volume of the vein corridor by the density of the quartz host rock, we arrive at our Estimated Ore Tonnage figure for the entire Tesoro Project, which we then discount by the 32%scaling factor to more accurately reflect inferred results from the 43-101. By applying the 29g/T grading from the 43-101 to our Scaled Ore Tonnage Estimate, we arrive at our Total Tesoro Project Reserves Estimate of 2,519,151 ounces of gold.