calling ufx, john 435, the big chief & goldie., page-11

Hi Rosey,

This announcement today was a beauty although quite a bit overdue. It seems that the geological modelling for Paris changes monthly due to reliable information from the diamond drilling. Unfortunately this is leading to changes in the timing of the resource estimates (JORC).

I think John will have to bite the bullet and just work with what he's got at one point rather than moving goal posts. The chances are that they may well discover that the Western sheet extends out to Alexander east and revise the thinking about the estimates again.

The size thing is not that important anymore to me. What is important is that they keep finding these high and especially these bonaza grade pods consistently and spaced apart from others. They haven't tested just how consistent one of these pods are at close spaced drilling, but they do consitently crop up almost everywhere in the defined mantos. This is especially important regarding the JORC. Geos sometimes have to delete exceptional grades from JORC calculations because a lucky drill hole can misrepresent an ore body, but I think they have now proven beyond any doubt that these bonanaza intercepts are a common occurrance and should be included.

Many people IMO are too fixated by size whereas they should be thinking about profitability. Cannington for example is extremely profitable mining approx 400g/t. I think Paris could be doing the same grades on average but at much cheaper costs. Paris is open pittable and IMO BHP is just a massive inefficient machine in regards to mid sized mines like Cannington. The size of the Paris deposit will not be apparant of some time yet, but it will IMO be large enough to be more cost effective than Cannington. Cannington BTW is now the 3rd biggest silver mine in the world after Fresnillo and KGHM in Poland.

The geology is a little more complicated than I'd like. A year ago it seemed to be a massive mantos near the surface and now it has multiple feeders, mantos sheets, oxide layers and gossanous black holes. I'm a little surprised they haven't adopted any geophysics or we going to wait until a mine dump truck disappears into one of these sink holes. LOL. 5m caverns are bloody big and should show up easily on some types of density profiles. It seems that the places with these voids also have in close proximity fantastic grades.

I still think that the market can't understand these announcements. They are much better now but I reckon they should employ a research group to put out a paper in plain english. Unfortunately silver is not exactly the easiest metal to understand. Somebody should at least spell it out into the market place what is equivalent of gold, copper and nickel to silver in regards to grades. It's obvious reading the other thread how many people there on here who still have no idea.