OTCQX:BGMZF - Post by User
Comment by
GoldExecuteon Oct 09, 2013 10:19am
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Post# 21802645
RE:Proven ounces
RE:Proven ounces
Bluejay, None of these ounces are proven yet! none! They have 1 Million indicated and the rest inferred. To take this to a "proven" they will need to do a feasibility study. to convert the inferred, they will need to do much more drilling, hopefully create a geologic model for the deposit and then convert those inferred to indicated.... if they can be. Once the feasibility comes in, I would expect to see a 20 - 30 % cut in actual oz's that are economic, especially with the depth indicated on the few diagrams that were provided in the last 43-101. The overburden on the majority of the ounces will most likely really kill the existing 1 million indicated.