OZL 0.00% $26.44 oz minerals limited

rxm as renewed takeover or merger opportunity, page-4

  1. asf
    9,887 Posts.
    I was just having a glance at RXM's new resource update:

    "At a copper cut-off of 0.2%, the total Mineral Resource at Hillside has increased by more than 33% from the previous
    July 2011 estimate and now stands at 330Mt @ 0.6% copper, 0.16g/t gold and 13.7% iron, equating to approximately
    2.0 million tonnes (4.4 billion pounds) of copper, 1.7 million ounces of gold and 44 million tonnes of iron ore.

    "Since the announcement of the previous Hillside Mineral Resource (217Mt @ 0.7% copper, 0.2g/t gold and 12.4% iron,
    reported on 27th July 2011)..."
    _____________

    It seems like they have found more mineral, but at less grade. Copper down from .7% to .6%. Gold down from .2g/t to .16g/t. Iron up a bit.

    I understand there is a lot of copper, but isn't .6% a bit on the low side? The gold doesn't look much chop either.
 
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