Ann: Record Quarter of Gold Production for Blackham, page-227

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chris1983

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10/04/18

12:38

Post #: 32345443
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Originally posted by nihilism ↑

Once again your comment comes from ignorance as you don't know the reason it wasn't right.

Grade controllers (which isn't their real title btw) are just geologists and most on-site geo's are not paid excessively handsomely. Coming from someone who has worked on several mines operations, I can tell you now the geological model they use for grade control is only as good as the inputs. Yes the target was missed but assuming fault on a party who is almost always given a model to work from as a work plan, and assuming the model is right without knowing who created it, what data was used and how it relates to what the company announced is just ridiculous.

I'd also like to point out that the stockpile average grade is calculated from a handful of samples, which all contain error because gold grades are the single most unreliable sample taken. Fire assays constantly have conflicting values and that's why Australian standard practices require triplicates and an averaged outcome.

Yes the stockpiles were lower grade, but without knowing the actual reasons behind it, you're just assuming and pointing fingers, and besides that, it's an immature investment approach to start calling for people's heads based off your own lack of insight.

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Do you know someone on this operation? Fact of the matter is they got it wrong and People’s heads fall all the time if they fail to deliver or get it wrong. I know this for a fact. The amount of times I have heard of people getting flicked for these errors is common.

Now obviously your not going to hang them immediately but it’s something to watch. Those pits would of been grade controlled before taken to stockpile. I’ll have to dive deeper into my research now..are they running with the same geos who didn’t pick up the weathered oxide and low grade overburden issues?

BLK Price at posting: 8.5¢ Sentiment: Hold Disclosure: Held
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