RE:RE:RE:RE:I only fear now that tax loss selling could hit KL eatmorefiber2-(12/4/2019 2:12:00 PM)
RE:RE:RE:I only fear now that tax loss selling could hit KL
I will wait for the year-end resource report before making a decision. Shorts can have their day today, but they might need to cover at much higher prices end of year.
The drilling has now defined continuity of mineralization between the Swan and Lower Phoenix South Resource blocks (Swan South Zone) and, with a high frequency of 30 gram-metre intercepts, it is anticipated that substantial additions of Inferred Mineral Resources will be realized in end-of-year model updates as a result of this program.
and...
A further 11 drill hole intercepts from this program are greater than 30 gram-m and it is anticipated that Mineral Reserves will be extended down-plunge of the Swan Mineral Reserves in the end of year model updates.
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Thanks eatmorefibre for posting that. I hadn't read the report really carefully. If the rich zones as found at the SwanZone can be shown to connect with the Lower Phoenix south with lots of grades near 30g/ton as this indicates. This has great potential re increasing the reserves at Fosterville , even if only inferred at this point.
I agree with peep's comment that the news release could have been worded better. I know they don't want to mislead or get ahead of themselves and then have to backtrack, but a few more comments on what these interscepts may mean would have been welcome.
If Lower Phoenix and Swan connect and go deeper as well this could lead to a major resource upgrade maybe not at the extremely high grades found a couple of years ago but still very rich and profitable.