*****news from the daily wag : humour on a saturday*****
***IF I WAS THE NEW MINE MANAGER***
guys/gals....i thought i would have a stab at what the new guy is thinking & here is what i come up with. you may have your own ideas?
the narrow vein mining paper (page 1) tells us that "Recent diamond drilling has intersected approximately 40 new gold bearing quartz reefs and sulfide zones that contain all the key mineralogical and structural indicators...". that is on top of all the known reefs described in the WMC(GMA) archival records. in-other-words, there is score upon score of payable gold zones in the MS mine. so where to bl**dy well start ???
1/......if i cobbled together a mine plan i would stick a stick of dynamite into the Burns reef on level 6 (where Burns reef would be the closest to the Main Shaft). 2006 channel sampling averaged 66.7g/t Au.
the alternative would be to go chase the central part of Burns reef on level 5 which has higher grades than level 6, though is further from the Main Shaft : channel samples averaged a grade of 92.3g/t. one channel sample was 1663.2g/t. incidentally, the western part of Burns reef had an average grade of 178g/t.
one thing to remember about those channel sampling results is that "repeat assays average 40% HIGHER than those quoted above" (27 feb, 2007). it seems to me Burns reef is a go'er.
2/.....if i was the mine manager i would also go fetch some AAA reef ore thru the Main Adit. in-other-words, i would mine 2 separate spots simultaneously.
in the 2003 annual report (page 6) it states that the AAA reef has 130,000t @ 6g/t Au, including 77,000t @ 8.1g/t over a 3 metre width.
although the report seems to indicate that only 3 drillholes were used to define the AAA reef. anyways, stuff-it.....mine the bugga anyway!
i would buy 10 golf buggies, rip off the sun canopies & reinforce the undercarriage, & drive in & out of the Main Adit singing old negro gospels. keep the boys happy i say.
3/......after 3 months i would introduce a 3rd mining front : the Kenny's reef at the 7 sub-level. i have decided to overlook Campbells reef as Kenny's reef would be a higher head grade at a guess.
4/......just keep mining away.......
5/......after 6 months i would recommend a sign be hammered onto the front door of the woods point pub. a Treatise on Grade Factoring - as it will revolutionize the way investors evaluate victorian nuggety gold deposits in the future.
6/........the Main Adit becomes a decline & snakes to the upper zones of interest.
7/......open a 4th front : Maxwells reef. just to see what the blazes all the fuss was about in 2008.
8/.......pay a divvy after 12 months.
9/......accept a t/o offer after 18 months for $6.28 a share.
10/......stop singing old spirituals & go fishin'......
MCO Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
