I think you’re underestimating what is likely to be uncovered, and putting the emphasis instead on what has been “mined out”. Bellevue’s consistent announcements to date make it a fairly safe best that there’s much more gold still being discovered, AND it’s high grade. Fears over the LOM are exaggerated in my view as we will almost certainly reach 3.5M Oz, if not more.
Charts!, page-47
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