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4.2¢ nexus minerals limited

Ann: Wallbrook Exploration Target & Mineral Resource Estimate, page-106

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robbo24

10,913 Posts.

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27/04/23

10:25

Post #: 67475336
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Originally posted by Fredwah: ↑

G'day Robbo,

"Are you suggesting NXM should have lowered the standard of its inferred resource and lowered the credibility of its JORC to imagine a 200m deep pit?"

No, but I'd like to see the pit designs that contributed to the MRE set out something like below.

If the pits are either blue or yellow, an investor can clearly see that higher drill density will capture an increase in MRE ozs.

If the pits are orange then further infil drilling will increase the MRE category, but will probably yield a minimal increase in MRE ozs.

Expand

I think your pit proposals may need to consider the locations of oxide, transitional and fresh rock. Oxide is 2.2t per m3, fresh is 2.8t per m3 (affecting tonnages) and also the economics of processing the oxide ore are much more favourable for pit. Fresh ore is higher grade. The SAR/NST experience is that they chase the higher grade fresh ore, I believe (hence going underground to chase 4g/t transitional and fresh feed for Carosue Dam).

NXM Price at posting: 12.5¢ Sentiment: Buy Disclosure: Held
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