In regards to "needing 50mt" for a processing plant, that isn't right. I don't say that in a bad way either @tomac I suggest you look at Nemaska in Canada in which a process planting being built for a 20mt resource with an additional (indicated resource) 7mt to to measured with drilling. The grading there is 1.5% for there main zone and the additional is 1.28% I believe. MC is about $500 million but they are years ahead of us currently, we don't even have a resource yet. Anything is possible though.
I personally can't see us getting 50mt on our maiden JORC or anywhere close to it. I personally predicted 20.58mt based on very preliminary figures. (http://hotcopper.com.au/threads/lit....2948246/page-6?post_id=19680533#.V_87bWUw0pE). Hartleys also predicted 24mt at 1.55% for our initial JORC and this is before the further additional findings of the western zone and DD results.
As for krigging goes I don't understand the fundamentals so I won't sit here and profess that I do like some. I will say though that I have been a poster on threads in the past and have seen so called "JORC experts" predict resources that were 1/10th of the actual size of the JORC when released. So people can be wrong and I suspect Oz is wrong in his prediction of 8-9mt (I know he is saying 12-15mt to keep hopes up but we will see) everyone is entitled to their opinion though.
Of course this is the maiden JORC and we will go form there. Further drilling campaigns as noted in our latest set of announcements will uncover more no doubt. The western zone looks to be of a higher grade and potentially a larger resource so it will be interesting no doubt. Oz even gave his prediction on the total with the western zone previously (http://hotcopper.com.au/threads/ann...868879/page-486?post_id=19008411#.V_7bLWUw0pE), so 30-40mt total even by his conservative standards (I feel they weren't as conservative back then....) is very good.
Time will tell and the next few weeks will produce our JORC.
Ps: I have seen a few people right that these thread titles are horrible 50c party, 80c party, beating everyone else to production etc and I have to agree. Please come up with something a bit better (no not the $1 party lol)
BGS Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
