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Ah well, that's twice now, guess nobody wants to talk about it....

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Names little

17,843 Posts.

1250

06/06/19

09:21

Post #: 38932813
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Originally posted by Names little ↑

Hi all, re "we should have a reserve upgrade for the annual report, we need to restate our reserve anyway, i would expect to get some sort of an upgrade but a lot of the new stuff we are drilling probably won’t fit into that"

So they need to restate the reserves by sound of that. Is it only due to depletion of resource as we have been mining for awhile now?

I asked this question awhile back but nobody seemed to want to discuss it at the time, but with the falling spodumene price will that result in a lowering of our reserve. My understanding is that it must be economic to mine to fit in with Jorc definitions, so with a falling selling price will they need to raise the cut off grade to exclude additional uneconomic stuff at these prices?

Anyway, one for the rock scientists amongst us.

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Ah well, that's twice now, guess nobody wants to talk about it. So I will just scribble it in as a likely reserve downgrade to come due to a likely higher cut off grade being required to meet JORC requirements.

Better to be safe than sorry as they say. And let's hope they find something to add to the reserves.

But all just in my humble opinion as always.

Last edited by Names little: 06/06/19

A40 Price at posting: 18.0¢ Sentiment: None Disclosure: Held
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