Ann: Hobbs Pipe Mineral Resource Update Additiona, page-59

re: Ann: Hobbs Pipe Mineral Resource Update A... here is some interesting info on the Northparkes mine.
this is often used as an analogue of the mt adrah potential in many of the co announcements (like yesterdays preso).

http://www.ausimm.com.au/content/docs/northparkes_example_paper.pdf

an interesting table is attached from the appendix.
It is R&R from 2010 and production figures from the block caves.

the total resource figures of 288 Mt at 0.57% Cu and 0.26g/t Au amount to (as an example) about 12 Moz at $7K per tonne Cu and $1200 per oz Au. this back calculates roughly as a total resource Au equivalent of around 1.29 ppm.

An interesting exercise in diligence, in my view, is to look closely at the reserve figures in the second table, both past and present.
notice how much higher an Au equivalent would be on these reserve figures (much closer to actuals 'inside' the resource)

I don't wish to patronise anyone here, but this sort of diligence is very helpful to formulate realistic scenario's versus early speculation.
for example, the first cave (E26 lift 1) using the above metal prices and the grades from the table works out to contain 2.64 Moz at the Au equiv grade of roughly 3 grams/t
!!

punters can of course do their own diligence. maybe later I will do the rest of the second table as Au equiv's to give a clearer view of a true comparison. It might also be fun to do a linear stretch equiv in burj khalifa equiv's versus say the great pyramid of giza ? ;)

Now I know Mt Adrah is not yet fully understood, but this is to balance some of the 'discussion' and some of the claims bandied about here.

I hope this is helpful and if anyone can correct this info or explain why Mt adrah should be analogous to Northparkes that would be great !