I think the majority of this selling is retail
A lot of retail punters would have been following Hartley's research and recommendations on this one. Hartley's put out a super bullish estimate on an Aueq, however RTG reported their JORC in terms of individual credits (Au,Cu,Ag,Fe). In drill results RTG does report an Aueq, so perhaps they could have done that in the JORC ?
Most punters can't do those conversions and therefore had no idea whether the JORC had come in on target, exceeded it etc. Hartley's tonnage was also higher than RTG's, however, if you do the conversions on the credits to an Aueq, I believe this actually exceeded it by having higher grade, still with a slightly lower tonnage
Market completely missed this, along with the fact the deposit is open in multiple directions at depth and therefore only going to grow
What would have been good is some sort of comparison so the market could value it. As copperroad pointed out earlier:-
The supergene resource is 101,000t @ 24% copper (remains open)- this is nothing short of outstanding. It is 2/3rds the way to the SFR resource already. SFR was about 143,000 @25% from memory
Perhaps RTG could have made this comparison in their JORC
Looks like the sort of thing the market needs to be told how good it is, so some retail research with all these nice comparisons and the fact it is the highest grading on the ASX might just wake people up !
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I think the majority of this selling is retail A lot of retail...
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