Leveraged gold play, page-30

First 30 Last

Share
Profile

Follow
Viper21

622 Posts.

111

26/08/16

18:32

Post #: 18721524
Share

Originally posted by danis1977 ↑

I see what you mean, it's not particularly clear looking at those charts.
Looking at the bottom summary of the WA mineral resources chart around 650 000 oz's is in the measured category.
Measured resources can be estimated with a high level of confidence similar to that of proven resources, the only difference between the two is that proven resources take into account Diluting materials and allowances for losses that might occur through mining.
If you think about it , if AZM had 624 000 oz's in reserves and an extra 650 000 oz's in the measured category of their resource, why in their base case feasibility study are they only planning to produce 90 000 oz's a year over a 7 year period.
If the reserve oz's were separate in this case, AZM would have used the measured oz's in the feasibility study and either yearly production or LOM would be significantly higher.
I could be wrong, but you can see what I mean.
You are right though, some companies exclude the ore reserve from the overall mineral resource, and sometimes the two can be added together to get the overall total.
If you are right, it basically means that with very little effort AZM could double their production from their current resource base

Expand

After receiving a phone call today from Tim one of our geologists, I can confirm you are right with your calculations Danis.
Sorry, but I had misunderstood that the rerserve is actually included in the resource and not two seperate values.
So basically what you were saying was correct and we have a total of 1,994,000 oz of gold in the ground of which 624,000 oz is proven and probable. The current JORC resource does not include any gold from Julie West and our JORC reserve does not include the 28,000 oz of Inferred gold which is classified as mining inventory.

AZM Price at posting: 4.8¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

WIN

'Incorrect datasets': Old irony sets WIN Metals up for golden opportunity at Emjay

AII

Inside the depths of Panasqueira: A legacy carved in rock

Tuesday's HotCopper trends: Sayona intercepts, Bowen Coking crisis | July 15

ASX Market Close: Tariff fatigue truly evident; RBA eftpos proposal sinks Tyro

First 30 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Leveraged gold play, page-30

Top Stories

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

'Incorrect datasets': Old irony sets WIN Metals up for golden opportunity at Emjay

Inside the depths of Panasqueira: A legacy carved in rock

Tuesday's HotCopper trends: Sayona intercepts, Bowen Coking crisis | July 15

ASX Market Close: Tariff fatigue truly evident; RBA eftpos proposal sinks Tyro

Featured News