GREY:BPMSF - Post by User
Comment by
miningman3on Jul 30, 2011 7:01pm
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Post# 18890717
RE: There may be a bigger problem
RE: There may be a bigger problem Altho comments about 43-101 reserves / resources are valid, IF management could produce gold on a regular basis , month after month , the market might be prepared to overlook 43-101 issues.......... knowledgeable mining personnel are well aware that narrow gold veins do not lend themselves to analysis by 43-10-1 standards.
Howver theres an even bigger issue hidden away in the annual report. One of the two stope raises that were driven in the BK vein has collapsed and has been abandoned. This is really bad news. These raises were less thab 18 months old. In good rock , I would expect these raises to remain open for 20 years+. This implies the BK vein will be difficult to mine safely and inexpensively , and many ounces may have to be abandoned if conditions deteriorate. Plus such ground conditions make planning and scheduling extremely difficult.