right now, watso cannot be bothered to dig too deep - but just to start off with, but 300,000 oz of production over several mines, alluvial workings etc etc, is chicken feed.
watso noticed somewhere, that the model that mxr were proposing was along the basis that the bih resource is about 20 fold the historical production, so they have simply used the same proportion over all the mines. ok - watso is not sure of the historical production of the iron ridge mine, but when the company drilled the prospect, the results were a total disappointment
somewhere, watso has given his call on the doleraine mine, and has looked at the same data that mxr have used, and presented it, how watso sees it . watso might have a look for it later on (not too sure if it is still on the photobucket site)... suffice to say, that the model that mxr are looking at, it is nothing short of amazing, that mining did not continue on the basis of the high grade ore --- watso showed that the areas were barren - and would have been the reason why mining stopped - sure it might continue a bit further down - bih did mmm - bih seemed to be continuous - but water may have been the problem
just a wishy washy post from watso, as watso has not bothered to check up on anything
MXR Price at posting:
3.2¢ Sentiment: Sell Disclosure: Not Held
