Based on the 2,500 OPVM they appear to have assumed that NN does not widen much from 700m which seems to partly assume the purple mineralisation moves away from the structure to the left (ie the black broken line). As I previously posted if the mineralisation moves closer to that structure the resource widens maybe to 325m so perhaps hole 57 was a dud.
The ET stops at 1,000m. I interpret this, rightly or wrongly, as that is the limit they will be drilling to until they do a decline. Given how deep hole 52 was (about 900m) and that it seems they are drilling down to this level, based on the images they have put in the announcements, and the fact that they put in the MRE an inferred resource below where they have drilled, does that imply the next MRE upgrade mid- 2024 will result in at least and MRE of 1.5m Oz and maybe 1.6m Oz?
@speculator101 - is there a reason why you chose 60%-70% conversion ratio to a reserve? BGL has only about 45% conversion. A 1.1m to 1.3m Oz reserve is not too far from BGL to which needs to be added a possible reserve for 4P, WW and SF which could result in a reserve around the same or even higher than 1.34m Oz for BGL.
SPR Price at posting:
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