CTO citigold corporation limited
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Geology description???, page-16

  1. Sparrow2009
    288 Posts.
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    30/03/16
    19:04
    Post #: 17384994
    Hi trtkjd1,
    I think you may have misread that. The 30% payability is the conversion factor from resource to reserve. Out of a single reef that contains 1,000,000t only 30% is economical to be extracted (300,000t) meaning 70% (700,000t) can't be mined due to economic reasons. The grade is the grade in the minable parts and is set. If I mine a 3m x 3m tunnel 100m long I can't throw 70% of the metal away of what I have just mined.

    Dilution from mining and conversion/payability are 2 different things.

    See page 41 on the 2012 report section 9.3.5 on Payabilities.
    CTO Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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