Some infoI sent an e-mail to MrEvans regarding the news and here's his comments:
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"Our last resource was 46.6M carats and the new resource is 61M carats. A hefty increase.
Attached is the valuation news release we issued last November. You will see that a distinction is made between “modelled” and “actual” values. In coming up with the modeled values, all the large stones (including the 25ct stone) are discounted. So, you will see that the actual value for the Tuzo diamonds recovered so far is $252/ct, while the modeled value is well below that.
We are hopeful that the feasibility study, which is currently under consideration by the JV, will commence shortly. The JV agreement specifies the circumstances under which the project has to proceed to development following the feasibility study, so I’m not concerned about that.
Basically, all of the previous inferred resource is now in the indicated category. The new inferred resource is additional material that was previously not included in the resource, but which AMEC believes no has a reasonable probability of recovery.
Patrick"