re: Ann: Maiden Resource Estimate for Paris S... disappointing...

re: Ann: Maiden Resource Estimate for Paris S... disappointing ounces, but more importantly, very disappointing grade.

i said in my last post on 18/9 that paris may be viable with a reserve (not resource) of 20Moz if the grade is 200g/t or better. unfortunately, the inferred resource issued today would presumably lead to a reserve far below the 20Moz figure in order to get to a reserve grade of 200g/t or better.

with the silver price languishing, and with the negative sentiment to precious metal explorers/miners, todays's resource ann was always going to disappoint the market. imo, paris can be ruled out as a possible stand alone mine unless the price of silver heads well north of $30/oz for an extended period. possibly, cherry-picked ore from paris' selected high-grade zones could be used to complement another primary mine located nearby (if that eventuates).

so, unfortunately, imo it's: alexander drilling results - strike 1; paris maiden resource - strike 2 ... it looks like ivr needs a home run (and with loaded bases) for drilling results at hector or roundabout ...