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0.9¢ superior resources limited

Actually the base case was 65% recovery which was only70,000oz....

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W1lson

596 Posts.

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12/04/24

18:27

Post #: 73321688
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Originally posted by W1lson: ↑

I agree!
From SPQ Website: https://www.superiorresources.com.au/projects/greenvale/steam-engine/

During 2020, the Steam Engine Gold Deposit’s Mineral Resource Estimate was upgraded by 11% prior to the commencement of 2020 drilling programs. The revision of the Mineral Resource resulted in a JORC (2012) Indicated and Inferred Mineral Resource of 1.27 million tonnes at 2.3 g/t gold (0.5 g/t cut-off).
In March 2021, Superior announced a revised Mineral Resource estimate incorporating results from the 2020 drilling programs, which were completed by December 2020.
The revised JORC 2012 Mineral Resource estimate comprises the following:
1.73 million tonnes @ 2.2 g/t Au (122,000 ounces):
Measured Resources: 240,000 tonnes @ 2.6 g/t Au (20,000 ounces)
Indicated Resources: 610,000 tonnes @ 2.4 g/t Au (47,000 ounces)
Inferred Resources: 880,000 tonnes @ 1.9 g/t Au (55,000 ounces)

Average Gold price in 2020 was Aud $2250
Today it is Aud $3679
So a rough calculation of resource is nudging Aud $450m

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Actually the base case was 65% recovery which was only70,000oz. But that still equals $257m at todays $3679 price.

https://www.superiorresources.com.au/wp-content/uploads/2021/07/New-Table-1-1140px-1024x684.jpg
SPQ Price at posting: 1.1¢ Sentiment: Hold Disclosure: Held
5 Upvote

0 Great analysis

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Last 0.9¢		Change -0.001(10.0%)		Mkt cap ! $18.01M

Open	High	Low	Value	Volume
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Price($)	Vol.	No.
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No.	Vol.	Price($)
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Price($)	Vol.	No.
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Last trade - 16.10pm 03/05/2024 (20 minute delay)


Last 0.9¢			Change -0.001 ( 10.0 %)
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