Not to put a wet blanket on this. We need to get to a JORC by 50 metre to 100 metre spacings. JORC is based on the technical and economic considerations for getting to a resource and would put you at a 70% confidence level IMO when you state measured and indicated resources. Inferred resources are not what people use to make an investment decision and are based on confidence levels of around 30% IMO and certainly do not underpin a mining decision. From measured and indicated you get to probable and proven reserves which underpin bankable studies at a 90% confidence level. Basically need to understand cost structures and technical feasibility aspects here and to be frank lets see what portion of the resource becomes measured and indicated before moving to a conclusion. Time will tell but I am confident here and hence bought a little more today.
Time will tell and the diagram below explains what I am yabbering about above.
All IMO
AUZ Price at posting:
2.9¢ Sentiment: None Disclosure: Held
(20min delay)