I thought to share with everyone my mind about todays results and also about the bigger picture!
So first of all Something must have changed in the background, what came most probably from the internal communication between the Assay lab managers and Chris,why do i think that? Because didnt passed a long time since our management stated that we can expect until the end of Q1 another 32 drill results,compared to today where our management just said that we will have a global resource upgrade done by the begining of Q2 and it will contain no less than 92 holes which is a lot more more than the previously planed 64 hole res. upgrade! Non the less regardless of the significantly reduced timeframes what our management expect today, we moved from a 64 hole resource upgrade(only Pad 1-4 and 6,diamond drill hole) to a 92 hole upgrade!!! Which will contain Block C and D results too! I must say that i am very glad that our management decided to include all drill holes already in the lab to give possibly a much larger global Resource update! How much larger?! You may ask, here is what we know: Initially our management was aiming at 4-500Mt at 0.4g/t(for 5-6Moz) that would be translated at a simple continous geometry terms like 1000m long 400m wide and 400m depth with relative density of ~2.7(no idea what our ore exact density is just saw at some different solid host rock project, if u know,your help appreciated)1000x400x400x2.7=~430Mtx0.4g/t=~5.5Moz
Now we do know that between early summer and now we discovered the south east extension, and all results indicate today that we indeed extending our North west boundary as well,much further.Only at korbel Main we already looking at an approximate block size of ~1800m length ~500 m width and with an average ~400 m depth with relative density of ~2.7 only Korbel main goes with these numbers to ~11Moz (1800x500x400x2.7=972Mtx0.35g/t). If we go only with a 300m average depth than we still reach ~8Moz only at Korbel main!!
I think here worth to revisit our management AGM presentation(picture attached) where our management already sort of indicated an expectable ~8Moz Resource and beyond for our 2021 global resource upgrade(without any block C,and D results included,as this idea came to the picture only with todays announcement). Looking at Block C and D only by the outline of the IP chargeability images(which we know from our previous results as a fact that they further extend)we can see that both block around ~600 meter long, one around ~300m width the other about ~250m average width,with both lets say with average depth of 300m,Block C would bring ~145Mt and Block D would bring ~121Mt together=~266Mtx0.35g/t ~3Moz. If management is right and block B and D merge together(which according to our last resource outline almost sure), and Block C and D also merge together we are looking at one point in the future to a solid ~5+Moz addition with Block C and D.
Worth to note that these math calculations are conceptual only not firm things, but i wanted to put out there for food for thought.
So our amangement for my opinion will aim to get above 10Moz with this 92 hole global resource upgrade,and i think we have a good shot to get to that range. What would that mean for the share price?! You guess! For my opinion eventually anywhere between 3-7x increase in valuations.When you think about the fact that its only2-3-4 month away thats pretty exciting!
For Management!: Please at the next ann share with us all those 92 holes positions which will be included in our global resource upgrade(not only the 64 Diamond drill hole positions) since those drilings are already done we expect to see them placed on the map as you guys usually do. Thank you!
You guess! For my opinion eventually anywhere between 3-7x increase in valuations.When you think about the fact that its only2-3-4 month away thats pretty exciting!
(20min delay)