RE: RE: RE: I also spoke with Mark @ 1:30pmIf I would have to guess, I think that the report is so good that they really want to make sure that they didn't make any errors. They can't announce a 4M Oz resource unless they're absolutely sure. The nugget effect seems to be causing them trouble. I think they have something really big but they need to present the report in such a way so that the nugget effect on the overall resource is quantified correctly.
Drill results are showing something like 1-3 g/t of Au. The selective bulk sampling showed results in the 5-7 g/t for Au. This was verified by Placer Dome when they agreed to invest 30$M and become partners. I think if they're going to approach it conservatively, they will announce a 1.5M-2.0M Au resource.
Now if they want to be more agressive and take a more optimistic estimate they will announce 3.0M to 4.0M Oz Au.
Of course for the later they will need to justify their assumptions and consequently the nugget effect on the overal grades. The rumour is that they found some nuggets the size of golf balls. How do you incorporate these findings for the overal grade.
Either way we're looking at the following scenarios:
1.5M-2.0M Au resource (Conservative Estimate)
3.0M-4.0M Au resource (Optimistic Estimate)
The optimistic estimate will make the stock price explode, however they need to justify their reasoning. I think that they're scrambling to find ways to justify and determine the correct scenario. They're probably consulting experts in this area and not companies that want to do future financing. I find it hard to beleive that Mark went to Europe to look for financing. Finance deals are done here in N.A. not in Europe.
Either way this stock will explode as they will likely announce different scenarios leading up to the 4.0M Oz Au resource.
Withiut a doubt, OX has the goods.