GREY:ARGEF - Post by User
Post by
morriconeon May 18, 2011 8:16pm
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Post# 18597538
I'm puzzled ....
I'm puzzled ....The historical resource estimate was 79 million tons which is the number the company has been throwing about all along including March presentations. The NI 43-101 estimate from today is only about 44 million tons. The gap is huge. Why?
I realize that the old estimate was non-compliant, maybe a bit rough and drill data may have been limited but this is nonetheless a very significant difference and impossible to ignore. There has not been the slightest indication from the company that the 79 million was so inaccurate other than the standard boilerplate disclaimers.
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On the other hand the 44 million tons is certainly very acceptable. Good enough for 20 years production and my time line being what it is I'm not certain that I'll still be alive out then or even holding Argex if I am. The real money will be made in the next few years by Argex shareholders, or not at all if things don't work out.