"Look at NST's historic rate of reserve replacement and reserve growth, it is nothing like 850koz to 900kozs per annum. If I get time I'll go through the history of ore reserve statements and production and prove to you that adding reserves at a rate of 850kz-900koz is not achievable based on historic rates of reserve growth. Esh"
Esh, i'll save you the trouble - check out the chart below particularly in regard to the significant RESOURCE growth and also refer to the POGO Operations Update issue on 12-Feb. You would do well to understand that for underground miners, reserves are always significantly behind the resource curve due to the nature of the deep vein systems - that is why most analysts have missed the NST bonanza - I certainly wouldn't bet against NST being able to produce over >50% of the 20.5 Mozs Resource.
The POGO Operations Update is certainly compelling as is the last quarterly webcast. NST expect a "substantial increase in Resources and Reserves".
POGO was purchased for A$85/resource oz and will no doubt substantially add to this for around A$50/oz as they have done in Ausi.
NST may have got ahead of themselves for now however I am enjoying going along for the ride while relaxing in my early retirement courtesy of NST!
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