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holymoses

187 Posts.

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26/09/14

10:38

Post #: 14032634
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Originally posted by MarkieMills ↑

I noted a gold price of USD $1,500 has been applied to the resource, but $1,250 to the reserves (last year $1,200 for reserves, but resource POG was not disclosed). Surely the resource would be further reduced at 1250.

So the reserve grade could be affected by the reduced POG applied.

Their comments suggest that a lot of the change is due to reinterpretation - but also due to "identification of prevailing NW-SE and NE-SW shears. These have replaced or broken up the continuity of previously interpreted continuous E-W striking and steeply dipping veins and has resulted is less interpreted volume and tonnes." Which is not great news. this was announced in the ann of 9/9/14 - but the market did not seem to notice.

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There was no requirement to apply economic constraints to resources before. This JORC 2012 makes a mockery of the reserve /resource statements as the gold really hasn't left the ground!!!

I can understand imposing economic and financial constraints on the reserves but on resources!! C'mon, give us all a break. Why even bother having resource statements as to my line of thinking it is almost similar to the reserve statement

MML Price at posting: 89.0¢ Sentiment: Buy Disclosure: Held
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