PRX 0.00% 0.2¢ prodigy gold nl

The royal "all" shareholders, page-12

  1. 1,038 Posts.
    lightbulb Created with Sketch. 17
    It would have made no difference where the ore was treated, as you point out, they got the reserve model wrong. Modelling an ore body like this is extremely difficult, with high variability, high nugget effect and complex vein structures, they were bound to get it wrong. That is why they went with the trial mining approach and this showed that they had issues and actual performance was well below expectations. I still believe they didn't carry out a correct reconciliation process and blamed all other aspects for the low recoveries (gold lock up and the like). The fact is that they spent the time and money to conduct a trial mining exercise and then ignored the results. They needed to understand why the performance was so poor. Was it dilution, was it ore loss, was it that the model was wrong? These questions should have been answered before a commitment was given to start to full scale (?) mining. As you say, if they achieved what they planned, we would not be in this situation. No one is saying why we didn't achieve what was planned, just pointing fingers. The real issue is that producing a reliable model (JORC Compliant) is all but impossible for this type of ore body. You need people like Bob to sniff out where the gold is and follow it, not a computer model.
    Just my thoughts
 
watchlist Created with Sketch. Add PRX (ASX) to my watchlist
(20min delay)
Last
0.2¢
Change
0.000(0.00%)
Mkt cap ! $4.236M
Open High Low Value Volume
0.2¢ 0.2¢ 0.2¢ $359 179.5K

Buyers (Bids)

No. Vol. Price($)
11 6251188 0.2¢
 

Sellers (Offers)

Price($) Vol. No.
0.3¢ 21628958 28
View Market Depth
Last trade - 15.10pm 27/06/2024 (20 minute delay) ?
PRX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.