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22/12/20
20:22
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Originally posted by Esra Star:
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Um,,your tag certainly implies that you are,mate.
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Originally posted by DavidW:
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When cutting threads in metal using a lathe and a die, the die has to be aligned properly on the lathe where it can only do a short run compared to a single point tool where the pitch and depth are predetermined in the setup and incrementally adjusted with several passes over a long work piece. On the other hand, if a casting comes from a die, the two parts of the die must align or be straight as a die for the casting to be successfully poured. The Steam Engine project is a short run project and if that was the only play then indeed risk needs to be minimised with a pfs to preserve cash, but the difference is IMO that extensions also revealed sound grades by the exploration geo's whose field knowledge is essential. Furthermore, two parallel systems of greater strike length have been discovered where the volume argument significantly reduces the risk argument that could be associated with a smaller deposit. If we are talking about Steam Engine and the parallel systems, then the discourse ignores the economic nature of a shallow deposit which further mitigates against risk. The point I make is that not to get bogged down in the mud to distract from the critical path in development of SPQ that includes the gold, but it also includes other projects in copper, nickel, silver, lead and zinc. The zinc being a potential tier one project based on the volume. Price multiplied by volume to determines value. From my perspective, I am speculating a gold result will be sufficient to kick off the development in other areas that a broad brush approach still indicates profitability. Gold still to outperform given the Covid situation which appears to be going from bad to worse. So the price element of value will be enhanced to determine profitability as well as the volume. The price offsets costs associated with the quality in volume terms and vice versa. I also note oil has been hit again. So diesel should be cheaper. The exploration to date points to a far greater gold systems than first anticipated. That means further addition to value. That is not good luck but good management in methodically working through the exploration which means the pfs may be a little premature in light of discovery and not a necessary condition in proving the actual resource which comes with JORC. The key to success is good business sense to combine resources of land and capital to move towards production which is their goal and being in the right place at the right time. I note that jezzathegeo, your own pseudonym does not distinguish whether you are a resource geo or an exploration geo, but you are implying a multiskill which directors of SPQ may also have. Your subtle language also implies a lack of impartiality when you title your idol with a Mr. and don't give Peter Hwang the same respect. Similarly Mr. Harvey with a veiled slur by association with CTO. I note he was with them for a short time. In my humble experience, the specialist often misses the big picture. I am glad you see nothing wrong with the project. Your view of shortfalls is yours alone. To claim premised on erroneous assumptions are ameliorated by further work is also very vague. Further work discovered parallel gold systems. They got lucky? Time will tell.
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you’re reading too much into what I wrote. There’s no disrespect or negative implication toward Mssrs Hwang or Harvey. As I said, I like the project. As I also said, going through the process using current practice identifies where confidence in the data can be improved.and also identifies potential geological extensions in a quantitative manner. There’s a thread “Open Pit Mine Depth” where I did my best to describe current practice from me sella en la Cantina de Toro a couple of years ago. Have a look at that.