(Puzzled Monkey) As I stated in my post all the numbers were taken from the Conquest Mining scheme book from the Ore reserves section not the measured indicated and inferred section this applied for the three companies. If I had used the inferred section there is the probability that all three companies results would be increased pro-rata. You are right 7.4g/ton is the figure that is given in the inferred section but if you look in the totals column it still only brings the inferred average gold to 1.2g/ton for all CAHs tenements. The total inferred reserves for the Edna May underground mine is 166000 oz gold and that is what brings their average up by 0.1g/ton I did not spent my time producing my figures to rubbish the argument one way or the other I wanted to do so because I needed to find out why Mr Samuels stated that it was not fair. Looking at the sanitised accounts for all the companies in the scheme book it is easy to be led astray unless you are a forensic accountant. It is only from the reserves figures that I have worked on that I could get a better picture. I now have a possible answer to (Why it is not fair) PS It is not unusual for companies to bundle their non performing assets and put them into an arrangement like this the pity is that the CQT board seemed to have had their collective blinkers on or worse.
CQT Price at posting:
54.5¢ Sentiment: Hold Disclosure: Held
