Stanley? Waiting for June's Updated ORR?Oilslick9:
RE:"Why do you think BRD hasn't updated the resource report?"
[S] Taken from my post on Nov 27th:
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BWDIK? RA c/should be in the process of identifying all BRD's options (both internally and by third party independent consultants) at the scoping level before deciding on his final three options to take to the feasibility stage. It would take this long to investigate all plausible options. With the recent buy in by those whose business it it to know and understand LONG RANGE planning, will the next six months be worth the "aggravation". Was the Q4 pre-announced? Then way was it "inferred" in the most recent presentation? Point being BRD is being repositioned to ensure the best chances for success, hopefully on an NPV basis."
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Thus a company like Mintec will (they use the BRD drill data and assume certain parameters (including, rock type, rock strength, faulting, fracturing, POG, etc) to) come up with a basic resource (Au OZS). Thus we can have a resource using different grade cut-offs. This data is then used by the consulting engineers (or T1's & T2's in-house) to prepare a Mine Plan. This Mine Plan seeks to produce the most ounces at the cheapest cost.
Then the consulting engineers (like Micon, SRK, etc) sit down with management to review the three best options. Management then gives the consultant the OK to take those three (or could be more or less based on the review) best options to a more indepth study. Then the best option is then take to the PFS or (full) BFS. It is at this juncture that the Ore Reserve Plan can be released as the resource or reserve report. In the US the SEC wants the company to only report economically feasible ore. Thus we will (may) only see the updated Ore Reserve Report after all plausible options have been investigated. And yes while resources can be property based a full BFS could involve OP & UG of Timmns and Sask properties (300k by 2015? maybe; maybe not). A full (complex) feasibility could run into "six figures".
BWDIK? I did not understand the motive behind releasing the PR & GF numbers and not the updated BF numbers. They've been a long time coming. Sandstorm must have had access to some resource numbers to fork over $56 mln for 12% of BF & the BF extension into Pike River. Even though BRD announced that they want more data before producing a report. Thus Sandstorm could be confident with what they have seen thus far (okay to Canadian standards); but this same data is not suitable for release to the US investors as they need to meet a higher level of economic evaluation.
GLTAL-GLAP
Cheers
Stanley