OTCQX:BGMZF - Post by User
Comment by
ovison Sep 23, 2012 5:09pm
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Post# 20404816
RE: RE: Fact: BGM Lost More Than 4M Oz Indicated
RE: RE: Fact: BGM Lost More Than 4M Oz Indicated >>>wel i guess if the 4mil oz was reverted to infered and lies in it arms for further up grading who's to say that wont become obease and turn into 6mil ozs with more drilling?<<<
gobby, I totally agree that in a vein Canadian gold deposit continued drilling / production usually allows miners to replenish their resources and reserves. Just look at the history of Goldcorp's Red Lake mine. 75 years of production, usually only had 2 to 6M oz of reserves yet has produced over 25M ounces and still have 6M ounces of reserves (very roughly).
But the important point is that NI43-101 which relies on CIM standards is very precise about allowable resource estimates. A change of 4M oz of indicated between June 28th and August 12th is huge and should be reviewed by the BCSC. IMO a change of 4M on 10M is outside of the normal range of expected errors for an Indicated resource. Why was the first model so far off? Assuming the August 12th numbers are right, the numbers released on June 28th were measurably misleading.