RE: RE: Why? Important to remember that the timing and the content of the PR are controlled by Aurizon.
The choice of "cutoff grade" and "capping grade" are directly reflected in the amount of $$$ that they will need to pay NOX at the end of the this years drill campaign based on final resource estimate.
This N43-101 included the 1st year's drill program - it does not include the incredible assay results received over the past 12 months during the 2nd year campaign - and - the "capping" reduced this report by high percentages (-19% M&I and -60% inferred).
IF AurizonvIS going to make an offer to buy Niogold - I would think that it would happen soon ---> while shareholders may think we "only" have 1.5M ounces and thus be willing to accept a lower takeover offer.
SO -- add in last years drilling --- lower the cutoff grade to reflect $1700 POG -- remove the 25g/t cap (this is an open pit scenario - it ALL gets mined) --> I would not be surprised to discover that we are already at 2.5-3M oz -- double the resource estimate released today.
So why is the SP down on such an excellent report ----> some may be buy the rumour sell the news but I ask myself -- whose "interest is it in" to keep the SP under control?