GREY:VMSTF - Post by User
Post by
Furlouieon Apr 27, 2011 12:11pm
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Post# 18494795
43-101-Reed Lake reserve estimate
43-101-Reed Lake reserve estimate
Very interesting information on HBM's Reed Lake 43-101 reserve estimates !
The reserves were calculated using the following parameters;
-Cut off grade-1.5% copper--- (AVERAGE GRADE- 4.52 % copper )
-Gold price $900/ounce.-----------( ACTUAL CURRENT PRICE--$1500/ounce )
-Silver price $15/ounce------------- (ACTUAL CURRENT PRICE.--$43/Ounce)
-Copper price $2.50/lb---------------(ACTUAL CURRENT PRICE--$ 4.25 /lb )
-Zinc price $1.00/lb--------------------(ACTUAL CURRENT PRICE--$ 1.20 ?lb)
Anybody who knows anything about ore reserve calculation will know that these numbers are totally conservative.There is a lot of built in FAT !
Tha actual grade and tonnage are probably much higher!. How much--25% ?,50%? Who Knows ?
The truth may only come out when they start mining.
Furlouie