RE:PRB, New resource estimates
Correct me if I am wrong.
On a initial look this estimate looks disappointing. However, when comparing with the Jan 15 2013 report, I find some positivies.
a) This is a more accurate and yes conservative report - meaning banks will look at this report a lot closer than than the Jan 15. Also it leaves room for more ounces to be "found" if not defined.
b) the good part is the grade are substainually higer. indicated (1.6. million at 5.39 g/t + 2.3 million @ 1.03 g.t) 39 versus 3.6 million at 1.02 g/t.
c) the inferred is 400 thousand at 4.37 g/t versus 600 thousand @ 1.08 g/t
No the number of ounces didn't increase but we have a lot of drilling yet to do and hopefully by the end of June we should have a report on the follow up drilling in the high grade zone.