RE:Stanley - how are you at X's and o'sOn listening to Leigh on BNN he sounded like 25 metre (cutting the 50 M step outs in 1/2) was the plan - did not indicate he would go smaller than that. i have no idea if that qualifies it from a resource estimate standpoint to qualify from inferred to indicated, or not and whether the pounds can be used in a formal Economic analysis. I think Quakes mentioned 8 meters on average has/does. Leigh said he felt that the hit rate was high enough when doing drilling that he was super confident that prettymuch every hole was hitting in the infill drilling. I have never seen anything official cut off for distance between holes for economic reports like that - I would imagine each deposit is different to some degree....
I also suggested that maybe NXE won't ever care, so to speak, about indicated compared to inferred - maybe somebody is confident enough from their own investigation that the inferred pounds are all actually there, and more (Leigh basically said the infill drilling grades were higher than the step outs), so wasn't concerned. If they hit 400 million pounds with 300 inferred and only 100 indicated - maybe someone buys as is....? Has happened before with mixed success I guess.
Dev seems to suggest lately that the last few basin purchases ended up being bad deals for the buyers....I think he is saying that partially because FCU has such great indicated pounds as a %of total.
These 2 deposits are very different - shallow and wider dispersal partially under water,
Versus more concentrated and deeper not under lake.
Each company seems to be taking different approach. FCU has drilled a lot more holes and puts all data out to public and results show on corebox.
I haven't seen NXE on corebox, and they have drilled a significantly smaller number of holes.
Yes, if they infill drill to same degree FCU does I imagine they will face the need for more cash injection via financing or a partnership/partial sale too - BUT, maybe they won't drill as much or don't need to drill as much - like I said, I don't know if there are rules as to how turning inferred into indicated works....
Maybe they will produce themselves anyway, so why do they care about drilling 4 times as many holes to get inferred moved to indicated. Hasn't seem to stop anyone from estimating a NPV etc....just not "official" calculations in a PEA I guess...
I find it all fascinating.