Hey all long time no post from me, but assure you I've still been lurking here and reading all posts.
This little section interested me more than gold price estimates and cost estimates.
Exploration to date has not exceeded a depth of 400m and the deposit remains open at depth and along strike. Based on exploration data to date, we believe Siana has the potential to define a multi-million ounce deposit. Estimated gold recovery is approximately 85% during the open-pit phase, and up to 90% when operations go underground. Approximately 90% of the resource is based exclusively off of panels 1, 2 and 3, while the remaining panels have been underexplored. This is partly due to the high angle of incidence required to drill out each of the remaining panels as seen in Exhibit 7. We believe this represents a significant increase in the resource base and the life-of-mine as well as production rate.
Now I know they are talking "we believe" and "potential", but hey consider it. They are talking about doubling the current proven resource at Siana... Yeah watch me dance if that happens.
Another thing to note, just because I like to read the fine print.
PERCENTAGE OF ALL SECURITIES RATED Overweight: 76.5% (30.8% of which are investment banking clients), Equal Weight: 17.6% (0% of which are investment banking clients), Underweight: 0%, Not Rated: 5.9% (100% of which are investment banking clients).
It would seem they like to look after their clients, however happily RED is in that overweight category instead of the not rated category...
Many thanks to Rabbit for posting the report too.
Cheers,
JB
RED Price at posting:
$1.65 Sentiment: LT Buy Disclosure: Held
