dead cat bounce, page-25

Kinzu (re JORC review),

It is new development that converts Inferred resources to the Indicated category (from which the Probable Reserve is estimated).

At the last review they had 2,100kt in the Indicated category and 4,780kt in the Inferred category. There has been 18,000m of development advance so it is likely that a significant amount of Inferred has been upgraded to Indicated. But they have milled 460kt of ore which has depleted their Indicated tonnage.

Then there is the new Inferred tonnage which has been discovered by the drill bit over the last 12 months.

The main aim is to cover their annual depletion so I suggest that the most probable outcome will be an overall figure quite close to last year.
CPDLC