I agree!
From SPQ Website: https://www.superiorresources.com.au/projects/greenvale/steam-engine/
During 2020, the Steam Engine Gold Deposit’s Mineral Resource Estimate was upgraded by 11% prior to the commencement of 2020 drilling programs. The revision of the Mineral Resource resulted in a JORC (2012) Indicated and Inferred Mineral Resource of 1.27 million tonnes at 2.3 g/t gold (0.5 g/t cut-off).In March 2021, Superior announced a revised Mineral Resource estimate incorporating results from the 2020 drilling programs, which were completed by December 2020.
The revised JORC 2012 Mineral Resource estimate comprises the following:
1.73 million tonnes @ 2.2 g/t Au (122,000 ounces):
- Measured Resources: 240,000 tonnes @ 2.6 g/t Au (20,000 ounces)
- Indicated Resources: 610,000 tonnes @ 2.4 g/t Au (47,000 ounces)
- Inferred Resources: 880,000 tonnes @ 1.9 g/t Au (55,000 ounces)
Average Gold price in 2020 was Aud $2250
Today it is Aud $3679
So a rough calculation of resource is nudging Aud $450m
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