NXM nexus minerals limited

1.64%

6.0¢

Ann: Wallbrook Exploration Target & Mineral Resource Estimate, page-211

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smulv

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01/05/23

15:47

Post #: 67547280
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Originally posted by Fredwah: ↑

WRT JORC 2023 I don't see how the code will specify that a company must use 2g/t as a cutoff given that an "economic" resource has many varying factors such as grade, tonnage, depth, location, production/extraction cost, sale price to name just a few.

The code will work similar to financial codes whereby the onus is put on the product supplier (miner for JORC) to provide an assessment of why that product is suitable for an individual i.e. a $1M loan @ 10% interest for someone earning $50K a year is not suitable. The same loan for a multi-millionaire could be considered suitable as they have the means to repay it.

Similarly an "economic MRE" will be considered on an individual deposit, i.e. 1g/t cutoff for a company with a mill might be economic compared to a company without a mill.

For JORC 2023 there will need to be an economic assessment included into the MRE probably along the lines of what BGD have used below.

As for NXM, I assume that because they don't have a mill, to justify the deposit as economic for the purposes of an MRE, they had to include toll treating an ore grade simiilar to CD as the most likely pathway to production.

JORC 2023 coming will affect companies in many different ways. You can't say that the BGD MRE is bogus purely on the cutoff grade NXM were forced to use.

GLTAH

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I'm not familiar with bgd, any idea what spacing they used for drilling for that resource? I dare say if nxm used a cutoff grade of 0.4g/t and included wider spacing in their drilling they might have come up with a much more impressive number than 175k. Not saying bdg isn't legit, I don't know anything about it.
That's what I'm assuming the new jorc code will be more critical on. Drill spacing and cut off. I imagine a similar table like the one you have posted might be bullish for nxm.

NXM Price at posting: 9.0¢ Sentiment: Buy Disclosure: Held
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Ann: Wallbrook Exploration Target & Mineral Resource Estimate, page-211

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