I agree with you Ghosta. As you correctly say, the entire philosophy behind this type calculation is flawed and is virtually meaningless. But further to this, to base a calculation on a biased assumption of all particles being flat with no further qualification is misleading. Also, to quote an order of magnitude estimate as 11 g/tonne (instead of rounding it to 10 g/tonne) provides an impression of accuracy that is not there, particularly when a tweak of the assumptions leads to a figure of 50 to 60 g/tonne. In either case, I'd be quite happy for someone to dump a truckload of this dirt in my backyard - as an indication, the definition for high grade gold ore is anything greater than 5 g/t.
A word of advice to other posters on this thread. You30Ate has been posting dubious information on HC for some time now. This information has been dressed up as science and he has claimed to be a metallurgist with 20 years' experience on the ADV thread. It's time for me to call this out for what it appears to be - at best a misguided theoretician, or at worst a person who has obtained some information from Dr Google but lacks appropriate experience.
Earlier this year he indicated on this thread that sarcasism and ridicule of other posters should be expected - rather than asking polite questions of the poster. On the ADV thread this poster has used the term 'bulk density' where it should have been 'in-situ density', or 'unbroken density' - a significant error. He has referred to another poster as "young man" in what appeared to be a disrespectful way. He has indicated that company reports are sloppy if then contain typos, and yet his own assertions are often completely erroneous, as indicated above. His disrespect has also appears to have been directed towards the board of the ADV as well - not a smart move for the longer term - maybe he should acquaint himself with what disgruntled board members can do in this regard.
My assessment of this poster has led me to hit the Ignore button and that's where he's been for some time. He said he's heading for the door today, so good luck to him. I hope this translates to not posting on this thread in future.
I'm quite content to ride this stock through and join the other long termholders who have held and waited for this moment, and I echo the sentiment of others on this thread who have said, "the beginning of the beginning". I'm not prepared to post any valuations on where this company might be in 12 months time at present because there are currently too many unknowns and the figures are potentially that high that I don't want to have HC issue me with a bad behaviour ticket. None the less, I agree with Vendor's description when he says, "making a motza"!
I'm hoping for an interesting ride over the coming months and into the medium term. Potentially good ore + a spread of tenements + different materials + cash = high probability of dollars for me. For those that are thinking of buying at 10 cents or a bit higher today, I'd still say to go for it. For information only, Morningstar had this company valued at 11 cents on the 8/11/2017 prior to yesterday's announcement - but as always, please do your own research.
Cheers for now and good luck to all.
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