Oct 30 news release is great news"Testwork at an independent, certified assay lab has determined from check screen fire assays that coarse gold is reporting to the flotation concentrate and therefore the mill may be under-reporting the grade of gold in the flotation concentrate. Accordingly, screen fire assays will now routinely be completed on all flotation concentrate samples, and the final mill results for the bulk sample will be available after all testwork has been completed. Pretivm is targeting a total of 4,000 ounces of gold to be produced from the 10,000 tonnes of material excavated for the Program."
My interpretation is that the results of the bulk sample so far are under reported and that Snowden's model is even more valid. I don't remember seeing any mention of fire creen assays until now and they have been sure to include it as an important item in this news release.
I also like the fact that the news release specifies that they are looking for 4000 ounces from the bulk sample. I see the only reason to reiterate that as confidence that they expect to make themselves look good by reporting more than 4000 oz in the end. After all, they will know by how much the inital assay under-reported the actual values. Also, I am guessing that "coarse gold in the float concentrate" means significant improvement in the grades.
I think if you are considering tax loss selling you better do it now so you can get back in before the resource estimate upgrade they are projecting for year end.