43-101 etc We're wandering away from the main purpose. I don't care what any of you think of each other, or me for that matter. So what if soime of you are deficient in the grammar department in German and Latin, or English too for that matter.
What is critical is what the future contains for FAU. All we have to go on are press releases most of which dont tell us much but some like the news of the Sprott loan, are alarming. We also a bunch of '43-101' reports. These reports follow the format with chapter headings as listed in the regulations. The whole intention of the regulations, which came out right after the Bri-ex scandal, was to give shareholders comfort about ore reserve estimates.
If you have read these reports, as I have, you will note the complete absence of any reference to reserves. All we hear about are 'resources' - which is not the same thing at all. This means the mine has not drilled off mineral so that there are enough samples to justify transferring the mineral into reserves status. It is generally considered poor practice to start up a mine withour proven reserves. If you do, then be braced for surprises. At Nixon Fork we have the surprise that after six months 'ramp up' (a buzz word for 'commissioning') gold content of production material is persistently below the average grade estimated in the 43-101 by Giroux for 'resources'.
This history tells us the mine went into production too soon before the ducks were in a row. The company was running out of funds so felt obliged to make the decision, right or wrong, and had to borrow from Sprott to do it. Ore in the 'hoped for' category makes poor mill feed. and talking of mill feed, there is something drasticly wrong with the leach circuit. This stock has SELL written all over it. I'm out - there is too much risk and not enough pizzazz.