RE: RE: RE: RE: RE: RE: Some English Major Has ProMountaineer,
Just a few points of clarification:
1. I used the South African article to point out that the cut off grade calculation uses model parameters that differ quite a bit from the ones being specified by Graham on his site. The example of the South African mine is just that - an example.
2. The resource estimate does use a statistical algorithm so you are wrong in stating that it is not all about statistics. Think about it. The writers of the estimate have to extrapolate on the basis of the drill holes. It is like taking samples from a population and then making inferences about the population at large. So it is about statistics, and the Kriging algorithm is a statistical device (see the previous post from the Coffins)
3. Graham obviously got it right with regard to EAS. But my point is that he got it right not because of some profound statistical analysis that he completed. Most likely he was influenced by what the previous explorers at ES had said.
And while he could well be right with regard to SA I would not rely too much on the highlighted parts on his site. He has after all just highlighted (in yellow) the pronouncements that the company has made regarding the results from their drilling. See, for example, the text below from his site:
"From President and COO Mike Andrews, "It goes without saying that we are very excited with these results. These first few holes have already demonstrated down dip continuity of both grade and width. It's important to remember that this Central Raja zone represents less than 10% of strike length established to date for Pelangan alone. Drilling will continue to step out on 50 m spaced sections at Raja to identify further high-grade shoots for aggressive infill drilling. Drilling at the 600 metre long South Raja Zone will commence shortly."
I do agree with you that it is worth taking a look at SA and wish you the best if you decide to buy.