Thanks for the reply with information Dingoheeler.
I assume you mean in normal conventional mining co's they can take up to 2 years to complete all drilling / assay / survey results to update a JORC - then Feasability reports then lastly the BFS
However, am I correct in your posting that BMV/SAU will not go through this long drawn out route & complete the JORC - Feasability report in 6-9 months only. As it seems to mention they will take up to 2 years?
"The rest of the mine's (conventional) ore bodies can be initially categorised into inferred and indicated categories. I don't think that will be a big focus with BMV until later on in the process (1-2 years maybe)"
It would be interesting to see what is in the JORC regards to Indicated & Inferred resources.
It's also a positive that they can from their experience complete a JORC & Feasability report within 6 - 9 months - subject to once they enter the mine & they don't come across any major issues - e.g part of the mine collapsed in the past which may require large capital to rectify it. I assume Doug & Colin have read all the historic reports about the mine & nothing was held back from them!
But can the deal turn sour once they get in the mine & perhaps find certain issues unpredicted, maybe or maybe not. It's quite gratifying to read the below from the recent rns:
"The ***ong area has been acknowledged to have the potential to develop into a multi-million ounce orogenic gold district."
"This existing development represents tens of millions of dollars of value in today's terms"
" In those days substantial blocks of ore would have been ignored as their grade would have made mining them uneconomic. Many of the areas declared 'un payable' in those days are expected to be economic because of the higher gold price, more efficient mining techniques and better recovery technology"
