The tea leaves:Trying to anticipate what is about to happen...

The tea leaves:

Trying to anticipate what is about to happen helps fill the day and can be very rewarding if successfully done. I'm hoping HGO has moved on from the giant pit and are working on the giant 20y cup with a breakout at 79C

Be nice to be back in the ASX 200 index with a market cap of $1.6 billion. Might even make the ASX 100







The deeps:

The large area in the deeps with resistance at < 20 ohms would seem to indicate decent grades. The fact that they initially released the announcement without a grade estimate would indicate that a meaningful estimate is a difficult call. I presume the amended announcement with the same grade range as the rest of the target which has much higher resistivity is a very conservative one. My guess is the ASX refused to allow a target range to be announced without a grade range estimate.

I noticed in a research paper on the Cadia mine deposit that zone 2 which had a resistivity of 30 ohms had a grade estimate of > 2% cu whilst zones 1 and 4 with a resistivities of 110 and 260 had grade estimates in the range of 1to 2 % cu