EWthe competent persons being different did raise an eyebrow...

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03/06/20

19:24

Post #: 45017709
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Originally posted by eastwest101: ↑

Pretty much summarises the story Chalco - after all the drilling and the hype they have finally announced a rather modest inferred and indicated resource, as they never really published all the drilling, it was just a gut feeling that they had a lot of skinny steeply dipping ore zones with some very small but spectacular high grade zones that got lost in a bunch of much more modest gold grade tonnage. The numbers don't really surprise me much at all and the modelling and resource work detailed in this release is actually pretty stock standard for these types of deposits and are cautious and conservative in nature. Eg ordinary kriging, estimation cell sizes and search ellipses, grade top cuts, dubious drill holes ignored, wire framing, assumed densities etc etc

An atrocious day to release the results today, as nearly all goldies were sold off heavily and indiscriminately, but no real explanation as to why the inordinate delay to this resource estimation. You just get the feeling that the company may have pumped the story a little hard in the past, many on here were critical of the 6 rig announcement and the poor communication of what was happening on the ground regarding what all these drill rigs were doing, and this coupled with the inordinate delay in the resource estimation and the "sell the news" mentality has resulted in the market giving this announcement a big yawn.

Anyone care to guess why they had a different competent person model Little Duke compared to all the other stuff done at Mt Freda and Shamrock/Falcon & Comstock? That was the only unusual thing that stood out to me.

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EW
the competent persons being different did raise an eyebrow from me

the fact that the peer review was by an AMG employee raised the other one
xx

AMG Price at posting: 3.2¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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