RE:RE:Updated Resource Estimate
Shylock that's why we invest in miners .... the leverage it has when the POG takes-off, and I'm in your camp, as well as most everyone here, the belief that the mining stocks are so depressed, that when the POG takes off, the sky's the limit for solid companies like Integra Gold.
We all understand Gold is being manipulated, and also understand that at some point the law of nature, the supply & demand equation will ultimately set the price in the end. Is Gold breaking out now, or is it just another wash & raise play by the bullion banks? There seems to be a shortage of deliverable Gold at the LBMA, (thank you China, & India) and on the COMEX, that has only around 5 tonnes available for delivery, with over 5 tonnes standing. December's delivery month on the COMEX will be the largest month of the year for those standing for delivery. Both LBMA & COMEX need to find more deliverable ounces, and I would think that TPTB will need a higher gold price, so as to free up some of those ounces that are being held tightly by others. Perhaps the fat cat plutocrats that stand behind the curtain will allow gold to find it's bearing and raise in price, or will there be another late night dumping of paper shorts so as the masquerade can continue. Let's see if gold and silver can truly break out from here.
On Another Note -
As far as projecting near term, and even more so long term, one should have a solid basis of facts that underlay his or her future forecast that's presented.
With that said, I do apologize concerning my previous post projecting what I had believed the upcoming resource estimate would come in at. I misinterpreted the drilled meters that were to be used in the upcoming resource update.
The basis of my projection was the information contained in October's corporate presentation, which stated that "88,076 METERS of drilling in 216 holes at Triangle to be included in Q4 2015 resource update".
What I got wrong was that the 88,076 Meters of drilling that will be used in the upcoming resource estimate for the Triangle Zone will be from the first meters drilled at Triangle, up through the April/2015 meters drilled, in other words the whole kaboodle.
This upcoming resource estimate appears that it will be completely remodeled, using different estimation parameters. Primarily with the C-Structure now carrying 70% - 80% of the resource estimate, along with the wedged drill holes which allows a much better grade for geostatistical analysis when determining the resource.
Without going into much more detail, here's my back of the envelope estimation of what we might expect using a 3.0 g/t cut-off for the indicated resource at the Triangle Zone.
ZONE TONNES GRADE G/T INDICATED AU OUNCES
TRIANGLE 3,608,000 9.5 1,100,353
That would stil represent an increase of 112% representing 579,723 additional Au ounces.
Bring It On!