RE:RE:RE:5 pounds of gold per ton over 2 meter: shares downTomgranite:
According to the PR you provided, It took a whopping 138 holes of infill drilling (or some portion thereof) to take the Lynx zone from 1,254,000 tonnes "indicated" in the May RE as compared to the 1,746,000 tonnes indicated in the November RE. This is an increase of 492,000 tonnes.
OSK says that these holes will all drilled since March, so granted, some of the 138 holes were probably already included in the May estimate. I think it would be generous to say that one third the holes (about 46 holes) were drilled between march and may and included in the May estimate. The balance of the holes( 92 holes) i'm assuming here were drilled between march and whatever the cut off date was for the November estimate.
As can be seen from table 1 of the PR, 252,000 of these tonnes were not "new or deposit expanding" tonnes - they were shifted from inferred to indicated resources so new tonnage added by these assumed 92 holes was 492,000 - 252,000 = 240,000 tonnes. It's possible too that some of these infill holes had an element of "step out" characteristics to them even though they were identified as infill.
So an assumed 92 "infill" drill holes, moved 252,000 tonnes to indicated from inferred and added 240,000 new tonnes.
All i'm saying is that, had the company stepped out say, 200 meters with 5or 6 drill holes (a lot less than 92) and been successful in inferring a block say 200 m x 10m x 10m x 2.8 SG for 56,000 new tonnes of mineralization the market would have taken it better.
(Not critical of the company here, i know nothing about the geology and the potential for step-out mineralization)
I know this 56,000 tonnes is substaintally less than the apparent 240,000 new tonnes from the assumed 92 holes but i think the market would have taken the 56,000 new tonnes( or some larger amount) from step-out as a reason to move the stock higher as opposed to what did happen when the infill news hit the wire yesterday. Just sayin' and fully admit that i'm not as savvy as many guys on here and that there is a lot of what if in my rambling and probably incoherent post.