Wardley Report - WOW, page-7

That's great but does anyone actually have Appendix 3 of that report where the details of the resource calculation are?

From the part of the report that I could see, you can tell that this promotional/sales material uses different cut off grades, resource calculations/estimations techniques etc as well as the different economic parameters compared to the realities of 2020. It was interesting to see that they noted the discrepancies between the percussion, RC and diamond drilling results. Pretty poor RC and Percussion recoveries in the ore zones which raises question marks about the QA/QC of wet RC and Percussion samples and sample quality, note how they had to ignore any RC and Percussion assays from under the water table, and were reliant on what would have been wide spaced diamond drilling at depth. The drilling industry has come some way since the 1970s and 1980s. Without seeing Appendix 3 it's difficult to say what (if any) down hole surveys were done to track the trajectories of different drill holes.

Not much interest in 1989 in Mt Freda and the price of gold only got worse by the time DMR ceased mining in 1991.

Anyway, how relevant is this 1989 report considering that QMC did another resource estimate in 2009-ish then AMG have done another resource estimate in 2020 ? Each of the more recent resource calculations would have had access to more recent drilling and more numerous data points with better sampling quality , more drilling coverage and better geological understanding, and both 2009 & 2020 estimates produced roughly similar tonnage and grades (give or take some variation for slightly different geological interpretations).

If it were my money being invested I know which resource estimation I would be using as a basis for decision making, probably the ones that are JORC compliant with more recent data supporting them.