The only reason you generate for proven reserves is the banks make you. If they will lend to you without having reserves why spend the money on all that drilling. Would any of us be happy to have seen another $30 million spent on drilling?
I have no concerns that the gold is there - in my opinion that the current resource significantly underestimates the true resource. Anyway as we have seen with GCY and DCN it doesn't matter how much you have in the reserve category, if the CP geologist is hopeless (or corrupt) it doesn't matter. I would rather a conservative resource in the probable than an overoptimistic resource in reserve.
Ann: 27m at 14 g/t gold in maiden grade control program at M5, page-149
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