RE: BP resource prediction and NAV
Larix, I would not claim to be even an amateur geologist never mind providing accurate resource estimates, however bear in mind the following info. gleaned from news releases in the past few months.
There were 17 holes drilled this year at Bobby's Pond, of which only three were classified as infill holes, two of three appear to have long intercepts of high grade ore. 5 holes were undercut holes; 2 holes to assess potential for open mining: 2step out holes; 3 to establish direction of faulting and 1 abandoned.
It is impossible to determine where these holes are in relation to the 2005 composite level plan on the MOA web site or the exact relationship of each hole to other holes. If one focuses on the best undercut holes 06-020 and 06-021 and the shallow hole 06-013, the intercept length and grades would indicate a sustantial upward revision of the resource. A prediction of 2.5 million tons is total guesswork, a more realistic guess might be a doubling or tripling of the tonnage at a slightly higher grade. I include infill drilling which as you say puts the resource to indicated from inferred but no other holes in my guesstimate. With the success of the infill drilling perhaps there will be fewer than 8 lenses i.e. larger continuous lenses.
Total garbage, maybe, but it is fun to speculate; we will know in Mid-January!!