RE: Potential resource estimates25 Jan 2020 10:54
Certainly nothing formal manfromU,I think it’s all speculation /educated guess, the closest we get to formal is the sprott report and numis price target which was estimating 3moz or more,since then we’ve had HAD 23 in the last update which is a huge step out and grade,couple that with GH comments of exceeding our initial expectations and having still not found the edge,and I think that’s where the 5moz plus speculation comes from,I personally think it was totally irresponsible of prim to state 20moz,10 moz would have had same effect,but since then there has been a lot of ramping and joining dots wrongly like the 27moz for telfer suddenly being applied to have. The simple fact is that “even” 5moz will likely double our SP from here. So I think it’s warranted excitement,but personally I feel the actual chances of a 20moz find are no better than 1/250 odds,whereas based on the facts so far,it certainly should be more than 3moz as NC walk away anything under that really,and they certainly arnt walking,quite the opposite. That’s my take on it, I’m trying to manage my own expectations as the thought of anything over 10moz is so exciting,but equally unlikely,not been many of those finds in the last decade.
There is one thing (certainly not deramping here) but maybe DJ/paddy/apple of one of the regulars can comment on for me,the last exploration update said we had 4 zones of high grade in amongst mixed other stuff(can’t remember
Their exact words) so personally my only worry atm,is that we have 4 veins and the continuity between them,that could go the other way two and there could be 4 ore bodies with gaps in between that stretch way outside the initial area,but that’s one bit I haven’t been able to visualise from core box or our actual drills to date,I’m hoping next update may clarify this point as if it’s not a continuous deposit,is there a chance it’s high grade but just in veins and the total mass isn’t what we are expecting. I mean I’m trying to find something negative to manage my own expectations which are way way to high at the moment.
At the end of the day,as all the good posters on here say,pick your strategy, stick with it and your gut and research and whatever happens happens,don’t be greedy,don’t sell to early,base your decisions on your original strategy and adjust for the quality of results next week and going through the year.
My strat for anyone who cares,is to wait for maiden resource before selling,buy on any pull backs (bought at 2.27 coupe weeks ago with a 1.61 average) and trust melt research over the last three years. I’ve bet money I can afford to lose,but I have bet it all and ignored the golden rule of investing,diversification,but I’m in a unique position with a little inheritance this year so suddenly my 15k life savings can be risked,of course I really hope I don’t lose it,time will tell,weed out the good from the bad on this board,but generally ignore most,especially around results time when they all crawl out the