Old car is pointing out- resource vs reserve! he notes 30...

Old car is pointing out- resource vs reserve!

he notes 30 percent of the 51 ooo gets to a reserve

remember - from day one - you don’t mine a resource you mine a reserve

so you convert 51 k oz resource to a reserve by his back of envelope by my reading- then multiply by 500

51000-times 30 percent ( how much of the resource goes to a mineable reserve) times500

That’s 7.65 m ish say 7.5 m

golden rule - you have a resource - people do scoping studies and more drilling and studies and studies and then you come up with a resource and reserve statements - studies come up with plans to extract that reserve- the company then spends more money drilling etc to replace its reserve

when there is no more reserve to mine it’s over