Mudguts
I appreciate all the work you did for that last post, as it shows your commitment towards the company. You also sound like that you have a good dose of the flu at the moment.
However, there are many mistakes within that information . . . . and if I may I'll discuss a few using your figures.
Lets start with Kendrick, as the company has said that they believe that it is indicative of the whole Lance area.
-----------------------------------------------------------
Announcement 21/12/2011
Kendrick lbs
Measured
Indicated
Inferred - 17 235 709
Total - 17 235 709
-----------------------------------------------------------
Announcement 02/04/2012
Kendrick lbs
Measured - 237 861
Indicated - 3 133 199
Inferred - 25 705 724
Total - 29 076 784
-----------------------------------------------------------
Kendrick
Measured + Indicated = 3 371 060
Conversion rate for whole resource at Kendrick
= 3 371 060 / 29 076 784 = 11.59%
Absolutely no where near the 40.00% the company touted.
At that conversion rate PEN only needs to find another
"74 200 000lbs"
at the Lance project to convert the needed 8 600 000 lbs into the M & I category
ie - 74 200 000 x 11.59% = 8 600 000 lbs M & I
Just to meet your EES 23.3 mlbs M & I target
How much drilling and time will this take?
SwissB
MudgutsI appreciate all the work you did for that last post, as...
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