Was having a read of the quaterly today and noticed the that they are now saying that over the 3km strike currently being drilled "It is estimated that this will form the basis of an inferred resource the target for which is 50 million tonnes of 8% lead and zinc."
This would be 4 million tonnes of in ground metal... and is only 1/4 of the 12km full strike length.
@ current spot zinc and lead prices of $3000 and $3800 respectivly / $0.9 X-rate and assuming the 8% is split evenly between lead and zinc...
value of 3km strike approx. AU$15 Billion
assume deposite continues along full 12km strike length...
15x4 = AU$60 Billion
Big assumptions being made here but this is obviously just back of the envelope stuff!
Anyone care to comment... what are people's general thoughts on Admiral Bay?
admiral bay
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