NVA 10.6% 21.0¢ nova minerals limited

Ann: Geophysics confirms extension of RPM high-grade gold deposit, page-58

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  1. rlj
    516 Posts.
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    Yes, only measured and indicated can be used in a feasibility study

    Once again, for $3.50 per ounce, Nova have uncovered 9m ounces, of which 3m is in the indicated category.

    I see no reason why this cannot continue, therefore your quoted figure of $80m would uncover 18m ounces of total resource, with using the same ratio of approx 30% indicated to inferred as per current figures would include around 6m ounces of minimum indicated resource, and potentially some measured category too.

    As you have kindly pointed out, only measured and indicated could be used in a scoping study, however I still consider that they do not need to discover 6m ounces of indicated and measured resources for a starter pit at RPM.

    How much would be required, who knows but maybe a million would do, so I still maintain my earlier comment that you are out by a factor of 6.



    Last edited by rlj: 19/01/22
 
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