Coalboy it appears that yes, it is that easy to move the...

First 8 Last

Share
Profile

Follow
Copperkote

112 Posts.

36

12/07/19

12:22

Post #: 39493363
Share

Originally posted by coalboy: ↑

Yes I did !
It was concerning to me when I did my brief review , how 22,000 oz could be downgraded from Indicated to Inferred ?
All of these resource estimates form part of company official announcements .

How is it possible for Indicated Resources to go backwards when all earlier Resource Estimates are signed off by :

" a Competent Person as defined in the 2012 edition of the JORC “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves"

Is it that easy to keep moving goalposts .......?

So now we find out there may not have been a great deal of confidence in the previous "Competent Person's" approach to the geology .

Now we start to get to the root cause for the emergency stop button actions of 15 months ago maybe ?
I hope KIN now have the benefit of an additional 15 months of information , exploration and professional hindsight plus a lot of additional money poured in , so let's hope and trust that they can turn all this around ?

Coming weeks , PFS-Mk.2 and upgraded results are no doubt paramount in future outcomes.

My opinion only , dyor.

Expand

Coalboy it appears that yes, it is that easy to move the goalposts. Take a look at page 6 of the April 17th announcement. The pretty picture shows the supergene lodes going from vertical to horizontal. That would explain the downgrading of stuff from indicated to inferred. More drilling would confirm or deny this and then it could go back to indicated, but there is no cash to waste on drilling.
One of the models for the resource is correct and the other is wrong, there can be no in between. Which one is it? The new one that is produced by a dream team of conservatives or one produced by a highly respected forty plus year veteran of the industry. Mining will tell the truth if it ever comes to pass.
The dream team has done more diamond drilling which gives whole rocks to lick compared with previous drilling giving aircore or RC which produces rock chips to lick, so the odds favour the dream team.
I am really pleased that our exposure to this is low. The excitement of waiting for the imminent news releases would make my rum consumption go through the roof!

KIN Price at posting: 5.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

1 Great analysis

Reply