Thats the first time I have seen a mining company complain that there is actually as much (or more) ore in the pit than what the resource model predicted, what a horrible problem to have.
Have a look at that 170mRL bench plan again - it appears to me that they have at least as much (if not more) ore than what their resource model predicted. i.e. they are picking up more ore in the NW end of the pit with the orebody being much wider than anticipated but losing some of the thin complex ore in the southeast end of the pit, note that they are already mining out further than the grey pit design shell anyway so no problems of losing ore in the pit wall.
Possibilities could be a vertical survey error with benches or levels (unlikely), or some sort of error to do with exploration drill hole positions and downhole surveys (possible in highly magnetic rocks), geological structural complexities not picked up in the resource model or some sort of weird systematic bias in the in the resource model (such as cell dimension problems?).
AVB Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
