- A 'normal' JORC upgrade will be a big surprise to the market that missed the difference between a 'normal' JORC update and.....a JORC update of DILUTED ECONOMIC OUNCES within a fixed pit boundary. The "cut off" design price was based on about A$2000 from memory and now that could be increased to $2400?
-just guessing-(but being less conservative than BRB were)-maybe it could have been 1.1Moz?? Au mineable.They were being cautious,looking at future bank funding-and used a credible industry consultant.
-A new JORC might include the 2km of high grade underground lodes and shallow extensions outside the calculated "certain pit" that was discounted for mining dilution -add new discovery being drilled to north and south as early estimates ...AND YOU GET A FAR LARGER NUMBER.Don't want to raise expectations so no guess is offered- but it has to be more.
- Who knows when?- as I said, I believe they may have learned their lesson on projecting these JORC estimates or mining estimates as the case may be.
- No ounces were "lost", just misunderstood jargon??This caused sentiment issues-management copped flak-the same management that funded this from scratch and pegged and found a huge virgin 9km deposit in barren ground. Not bad if you ask me.
-What now?- will high net worth individuals that are connected to our new Board member in Nth America start buying this gem at only US$35M market cap? Will local producers start to dabble? Will the growing interest in gold continue to the likes of BRB?
-Will a smart newsletter with large readership promote it and cause a spike soon?
- At some point investors may register that BRB's ounces as reported were for ACTUAL mining rather than a JORC compliant estimate with no regard to mining?
- There is a big difference and BRB did explain that.
BRB Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
