Magix, I agree with you about the issue of the detrital and the final result, but I have taken a completely different take on the 100MT than what you have.
From the outset, the 100MT has been for the whole of Marillana not the NW west sector. The north west sector target was 30MT and actually achieved 47MT CID. They have indicated that they expect Abalone to hold significant tonnage, and given that there are 4 magnetic anomalies similar to the NW Sector (RH bore is not an MG zone) which fall within the Abalone sector - I reckon that there's every chance they will achieve the 100MT (assuming magnetic surveys are reasonably accurate).
I think the price BRM would achieve for its ore in 2008 would be significantly higher than for 2007, however it's a moot point given they're not in production. Who knows what 2009 and beyond brings - ore prices could fall in a heap.
If I were attending the EGM, one of the things I would be asking WR is his thoughts on what price per tonne of ore they would receive in relation to the benchmark rate you've mentioned in your post. If he couldn't give an answer, then I know they have little idea on the quality of the end product - at least for the detrital.
I hope your UMC does well, it looks like it could be in for a significant JORC announcement in a few weeks. I guess that now you're out of BRM that you won't be posting much on this thread and will let us wallow in our own self pity as we ponder a static share price. Good luck with UMC.
BRM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
