I paid a Quantity Surveyor to undertake some rough estimates for...

I paid a Quantity Surveyor to undertake some rough estimates for me based on what was reported. As i was a tight arse and capped him no more than 2hrs worth of work, I got an estimate of the outstanding deposits based on a low level confidence, however, should be +/- 20%.

This was fine with me because all I wanted to know was approximate reserve number to give me confidence that there would be at least a 8yr Mine Life from the Open Pitt Deposits and it is definitely on target to exceed that.

If we target the higher grade open pit deposits first in the programme, we'd be able to hit some serious production output in the first 3 years which should generate decent free cashflow.

	Shillington - Ridge Target	???	Oz
1	Ridge Deposit (Resource still open)	26,000.00	Oz
2	McClaren Deposit (Resource still open)	131,250.00	Oz
3	McIntyre Deposit (Resource still open)	39,000.00	Oz
4	Old Town Well Deposit (Resource still open)	21,029.41	Oz
5	Plum Pudding Deposit (Resource still open)	90,000.00	Oz
6	Twin Shaft Deposit (Resource still open)	15,000.00	Oz
7	Eureka Deposit	???	Oz

The outcome from the estimate was perfect for me and when you factor resource the company has announced it all fits in nicely and on target to hit their 900Koz-1.2Moz Target.

Ofcourse, DYOR.