"The head grade for the production ore processed so far is between % & % (insert pretty numbers), and if that grade is representative of the future production grades, this would suggest a resource of between ??? mT and ???? mT implying a possible gold resource of ???,??? Oz"
Imo, they can (and will) at least say something along the lines of, "The head grade for the production ore processed so far is between % & % (insert pretty numbers)".
But I'm pretty sure, that without a JORC reserve, they are not allowed to state anything like, "if that grade is representative of the future production grades, this would suggest a resource of between ??? mT and ???? mT implying a possible gold resource of ???,??? Oz" ...
I don't want to be a total wet blanket but I think it's best everyone has realistic expectations of newsflow. The market has long ago factored in the risk associated with an unknown quantity of ore. The reported head grades and, to a lesser extent, the mining/production rates achieved are the news that will make (or break) the share price in the short/medium term. Fow now, I'll be happy with any double-digit grams-per-tonne head grade figures announced and I'll accept the future risk associated with the unkown resource/reserve quantities ...
OGX Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
