Last night talking with Progol I made the following statement,
"I for one don't think that the grade or price will be that good as the historic average grade is nowhere near this and I firmly believe that as they move away from the old diggings it will get worse and the stones smaller."
Today LOM released further results from BLK 29 of 17.3 cphm
http://www.asx.com.au/asxpdf/20150122/pdf/42w3tqbnlkmh6y.pdf
On 8/12/14 during the second exploration on this pit they achieved 31.55 cphm
http://www.asx.com.au/asxpdf/20141208/pdf/42vbg9q3h18pzp.pdf
During the first exploration on 27/11/14 they announced results of 40.14 cphm
http://www.asx.com.au/asxpdf/20141127/pdf/42v1tp19gq1w9n.pdf
So the Grades have gone 40.14...........31.55..........17.33
More seriously the average stone size has also dropped during these three separate samples.
3.59cts......................1.28cts......................0.93cts
And YES i do know about the vagaries of alluvial mining, but ole aries can also spot a trend when he sees one.
Kinda makes last nights statement a bit Prophetic doesn't it.
LOM Ann. Results
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