Ann: BM8 Critical Minerals Projects Update, page-18

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stevenrushbrook

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20/10/23

23:27

Post #: 70459310
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Originally posted by CapitalGains123: ↑

The resource consultant is not really a technical need, they will engage their selected partner (guessing it will be AMC again considering the common people with CRR) to have an “auditable” review that market will respect. BM8 geologist(S) are more than capable in estimating the resource but as Steven says, they need to get what most people would consider a commercial resource which is around 8-10MT. This number is whats generally commercial assuming typical strip ratio and CAPEX costs of a concentration processing facility. BM8 will have a very low strip ratio and push comes to shove can DSO into GT1 Seymour concentrator so we can probably get away with a lot less resource than the required 10MT. Having said that, (BM8 hasn’t drilled no where near enough for any resource disclosure. They are still in discovery mode. Once you start seeing more closely spaced drilling like 100m spacing then they’re getting close to that objective. My guess is then need another 30-40k more drilling to get to the required 10MT so perhaps another year at the rate they’re going if we all want to be realistic with the target objective

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Agree , it took CRR over 30,000 M and Seymour was up there too for 9.9 MT. I think you’re spot on with 30-40,00m that’s around my 12-15 Months. A 8-11MT resource is what we are after for our MRE and it won’t be released unless it’s around those numbers . Few even know what strip ratio is and the new landholdings we got to me look great , if the main zone extends more west to those as we could be in for more 30m plus hits in step out. That’s previous land we couldn’t dril on . To me the new pegged areas was a fantastic movement by management . It’s so cheap down here , maybe wil go lower but surly this seller is nearly out .

BM8 Price at posting: 21.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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