Firstly, mine wasn't a conclusion, but an observation.
And in the case of the comparison you put up, going on the numbers alone, we have: 1987: 118,000 oz RESERVE (these are pre JORC-Code days); nine years later, we have 2006: 102,000 oz RESOURCE - that is, dbl the tonnes, half the grade and a reduced amount of gold. This suggests a lack of (or an uncertainty in) continuinty or robustness of the high-grade mineralisation. Not similar to Way Linggo at all, which is being mined, has been exploited by artisanals, and displays continuity (the higher grade versus the resource grade is another matter due to the nature of gold and the nugget efect and sample size...)...
So, no conclusion on my part. Simply observations from the sidelines, and perhaps food for thought. I hope they get it to go. At $2,000/oz, the economics are greatly different than 4 yrs ago.
Just another 2 cents' worth...
AHK Price at posting:
26.0¢ Sentiment: None Disclosure: Not Held
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