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1.2¢ australian mines limited

Ann: Resource confirms Flemington's cobalt credentials, page-22

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chocklips

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31/10/17

09:22

Post #: 28338375
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Originally posted by Scarpa ↑

Within a JORC code it doesn't work like that. You define measured and indicated resources by 50 mere to 100 metre spacings - measured gives you about a 70% confidence level and when you end up doing your feasibility studies these resources move to probable and proven at a 90% confidence level. Inferred, which has a confidence level of 30% max and I am been generous here as based on surveys some very distance based drills, does not justify a mining decision, but having a large inferred resource is a positive as you have a large resource to get to measured and indicated if the drill bit does the talking. At this point - look at AVZ - you might get a risk taking entity seeking who becomes first in line, if not subsequently trumped, to get their hands on potential supply who decides to fund your drilling program. Anyway I have said what I have said in my previous post - need more drilling as our measured and indicated resource is a fractionof CLQs. All IMO

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The green eye monster is out early

AUZ Price at posting: 8.8¢ Sentiment: Buy Disclosure: Held
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