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7.3¢ red river resources limited

Hi 5hareholder, You have a very good point there. However,...

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fightinggreed

701 Posts.

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14/03/17

08:07

Post #: 23318067
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Originally posted by 5hareholder ↑

Any engineers out there?

Good luck to the planners that are going to be responsible for successfully extracting ore that hasn't been drilled out to measured status. Seems like a lot of the drilling at the moment is targeted on resource volume, rather than resource confidence. An operating mine needs confidence, especially at 12% Zn eq. Worthwhile researching in to the troubles of CBH's operations to understand why poor resource confidence can be back breaking to any operation.

Bit of risk in this one in my opinion. $100M is fair value.

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Hi 5hareholder,
You have a very good point there. However, remember that the JORC resources don't include the recent drilling at Far West which is infill drilling to improve resource confidence. Somewhere around 15 drill holes to be incorporated into those numbers so far. I imagine that is going to move some more ore into the measured category.
Cheers,
Tim.

RVR Price at posting: 23.0¢ Sentiment: Buy Disclosure: Held
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