The only figure that Tom has ever released has been the 1.1moz and that has been consistent but when it first appeared was weighted towards inferred resource. Now it’s weighted towards indicated resource.
I don’t believe Tom has finished reporting on what is still there hence the reference to bigger slice of the pie. But it has been HC posters who have filled in the blank on what that meant and HC posters who have previously used excessive language in terms of what might happen. I saw the same thing go on with FML to the detriment of many who got carried away. Maybe check out what was being said by whom and particularly some of the current posters during 2010 or 2011 or thereabouts.
I did a long post because I prefer facts and data to emotion. Especially when you are looking at shares but it’s handy in life generally as well.
Tang may be right that the consultants view has been considered, or that Tom was previously over generous in his estimation of the resource. Or it may be that because this announcement is a precursor to the PFS it has been couched in a particular way. There is ertainly specific reference in the announcement to how that may have influenced the way the data has been applied. So I still believe that the purpose of this report may have been misunderstood as well - or misrepresented.
To expect Breaker to release the external report is, in my view, a nonsense. There is no proof that, as some posters have been suggesting, there has been something underhand going on or that the report was unacceptable for public consumption. That is unsubstantiated opinion and poisonous. When people do that sort of thing they typically had something in their heads and feel let down. It’s not Tom that planted those ideas however and I am very clear on that.
my post was long because I spent a lot of time wading through every page and every figure and table of those two reports. I checked and double checked and I’d rather back up my comments with specific references.
Personally I think that asking for heads to roll, suggesting malfeasance or the other spleen we saw in the previous two days is more unbalanced than the announcement.
I leave to further research, which I intend to do, to work out whether one ought to be worried about the future but at this stage I’m more inclined to think that Tom actually has a good grip on the geology, cares about data and is well aware of what is needed to transition into a producer.
BRB Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
