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pintohoo

87,234 Posts.

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17/09/19

08:53

Post #: 40445934
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Originally posted by grunt ↑

Very frustrating to hear the debate re Inferred and Indicated resources and BRB’s latest Ann re resource.
Inferred resources are the lowest confidence level resource with Indicated and Measured 2nd and 1st respectively. Inferred resources are those you can report once you’ve got enough results to begin seeing an overall definable orebody but without detail. Inferred resources have no monetary value as such. Indicated resources are those where you drill more holes into the Inferred resource to give a more detailed orebody shape and ore distribution along (and also other technical work eg metsllurgy. preliminary mine design etc). An Indicated resource is of monetary value. It can be used to borrow money against. The difference is chalk and cheese. Measured usually means you are down there tunnelling it or have drilled it out heaps). In order to do a fessibility study in preparation for mining the resource should be Indicated or Measured so the next logical step between discovering an Infetred resource is to drill it out to Indicated status - exactly what they did. To maintain tons and grade in doing so is pretty good. Given the three sets of ore orientations and rock chip drilling rather than core I’d be getting a second opinion.Step our drilling along strike and beneath the pit depth is where the new ounces await discovery. I know nothing of management or timing issues but the steps followed are as they should. Yep

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It’s not just numbers - it’s now a clear lack of trust

Constantly overrunning self imposed deadlines

Excuses like we need this second opinion to give investors confidence - then release a badly received update - and don’t release the second opinion.

Constantly announcing that the resource is rapidly growing - then release lower figures

How much BS are we expected to swallow?

It’s about trust - now lack of trust

BRB Price at posting: 31.5¢ Sentiment: None Disclosure: Not Held
3 Upvote

3 Great analysis

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