Re: Upgrade.25 May 2021 11:57
The cynic in me would say where has this extra 19 million tonnes of iron ore actually come from?
A 12.5% increase is not an insignificant amount and is explained by further test work by a different company (Baker Geological Services), so it now appears that Geovista got it wrong.
However on closer inspection it is reported that Davis Tube test work results vary considerably depending on the actual equipment used and the way the test is implemented.
Also are there any differences between the two (PERC and JORC) resource standards/reporting methodologies? Who knows?
I was skeptical about Budge's announcement at the time where he said Beowulf are in the process of upgrading the resource at Kallak, I thought how, but he must have known at the time that Baker Geological Services results were going to show an improvement in the overall resource size.
All this added value with no extra drilling, who'd have thought it, but like I said, it's the cynic in me.
Saying that, his comments at the end generally and about the CAB's findings resonate well with me. But the wait continues.
GLA.