Maybe not straight off the bat 2.25Moz but DRD certainly had 5yrs of forward production profile in place during 2000 before the dirt low GOLD price put the project on HOLD...
we now have USD $1806oz not $250oz
This is not a new area of Gold production ... its not refractory ores ... its an area thats seen 40Moz of Gold Production... I think the local producers have a pretty good understanding of the WWI Ores in Question
Modifying Factors convert Measured + Indicated WWI 2.25Moz into Probable or Proven Reserves
Modifying Factors are considerations used to convert Mineral Resources to Mineral Reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.
If Sibanye are going be supportive to Toll Treat one would think along with the Mining Right in place EA/water approvals BEE support etc the Modifying factors look good on conversion rates to Reserves..
As we know we are only look at the top 500m >> only a fraction of the Probable Gold resources
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- Ann: Restated JORC Resource of 3.55Moz Au for Mining Right
Ann: Restated JORC Resource of 3.55Moz Au for Mining Right, page-116
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