I think @surfdown raises an important issue here - one I had overlooked because I’ve been focused almost entirely on phase 1 (given the other phases are redundant without it).
The phase 1 DFS had proven reserves of just ~54k. They seemed to acknowledge this was light on, hence the highlighted bit about significantly increasing for Phase 2:
However when you come to the phase 2 DFS, they’ve only been able to convert ~101k to proven:
Once again the highlighted sentence bears careful reading. @Bikesbeersfooty yes, >70% of the HMW resource is in the ‘measured’ category (higher than indicated and inferred), but this is a ‘resource’ which still has an element of uncertainty. It ultimately should be a ‘reserve’ (‘proven’, rather than ‘probable’) to have full confidence.
Like others I have for a long time been wondering why Galan hadn’t been subject to any takeover offers. Perhaps this uncertainty over resources being converted into proven resources is the answer. @daando37 what do you make of this?
- Forums
- ASX - By Stock
- GLN
- Ann: Quarterly Activities and Cash Flow Report
Ann: Quarterly Activities and Cash Flow Report, page-111
-
-
- There are more pages in this discussion • 105 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GLN (ASX) to my watchlist
|
|||||
Last
12.0¢ |
Change
0.010(9.09%) |
Mkt cap ! $60.80M |
Open | High | Low | Value | Volume |
11.0¢ | 12.5¢ | 11.0¢ | $518.0K | 4.475M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 11.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
12.5¢ | 1573785 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 0.115 |
7 | 472031 | 0.110 |
11 | 947628 | 0.105 |
25 | 1490999 | 0.100 |
2 | 20000 | 0.099 |
Price($) | Vol. | No. |
---|---|---|
0.125 | 1573785 | 9 |
0.130 | 254710 | 7 |
0.135 | 293280 | 3 |
0.140 | 225541 | 3 |
0.145 | 344396 | 6 |
Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
Featured News
GLN (ASX) Chart |