Sadly, it is not as easy for a company director to throw around a tonnage number as it is for us armchair experts. Believe me, if the drill holes had been of sufficient density to calculate a JORC compliant resource, it would have been published. Todays market frivolity shows that the average punter was expecting a number. Management was aware of this I reckon.
The ASX takes a pretty dim view of non JORC compliant statements. No CDU amateurs to be found here.
On thr bright side, there is nothing wrong with hotcopperites getting stuck into the finer details and coming up with a back-of-the-envelope number that allows for transfer of wealth from the greedy to the patient.
UMC Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held