Was roughly 1.4m ounces in total over that drill campaign period. Rather enticing if you ask me.
What really baffles me is that the Excelsior Deposit in June 2015, the mine was estimated to hold combined measured, indicated and inferred resources of 24.53Mt graded at 1.76g/t Au, containing 1.385Moz of gold.The total proven and probable ore reserve as of July 2015 was estimated at 7.55Mt graded at 1.98g/t Au, containing 481,200oz of gold.
The PFS lists Excelsior as only having a 320k ounce reserve so either the old Excelsior should have been on the film Gold with Matthew McConaughey or either the Bardoc team are being rather conservative.
I believe it is the latter and I believe the 320k reserve will increase beyond 400oz come the DFS which along with other optimisations will see the DFS comfortably reach a 1m+ Oz resource.
Remember, CMM have a 1.2m Oz Reserve and a Market Cap of $765m currently.
Bardoc not too far behind and potentially a better project and currently valued at $140m Market Cap.
As I mentioned the other night Paul, don’t invest based on my research do your own and make up your own mind.
