I guess it doesn't meet your expectation then. I can't comment on Empire's expectations, but 50,000 oz seems an arbitrary number to me.
Would be nice to see a little more in the PFS, but when you look at the breakdown of the MRE it's not surprising that little to no inferred made the cut. A 65% conversion of measured/indicated to reserve is fair. These types of mines usually produce more oz than initially planned so it might get up towards 36-39koz in the end and then there is the potential for resource growth from underground drilling, IMO DYOR.
All this doesn't mean much if HRZ don't mine it.
As an aside, what was your expectations for the PFS and Reserve?
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HRZ
horizon minerals limited
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Ann: Pennys Find Pre-Feasibility Study and Ore Reserve, page-14
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Last
5.3¢ |
Change
-0.001(1.85%) |
Mkt cap ! $130.7M |
Open | High | Low | Value | Volume |
5.5¢ | 5.5¢ | 5.2¢ | $434.9K | 8.110M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 1391000 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 40000 | 1 |
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No. | Vol. | Price($) |
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7 | 1391000 | 0.052 |
6 | 753602 | 0.051 |
17 | 1170323 | 0.050 |
8 | 565634 | 0.049 |
9 | 350916 | 0.048 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 40000 | 1 |
0.054 | 1002402 | 9 |
0.055 | 1516370 | 4 |
0.056 | 800000 | 2 |
0.057 | 1036805 | 3 |
Last trade - 14.02pm 16/06/2025 (20 minute delay) ? |
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