RE:next quarter report for Brigus. Josa:
RE:"Next quarter report for Brigus to be released November 12 I am told"
Jul-Aug-Sep (Q3) numbers are actuals so there is no potential for use of "delay tactics".
RE:"Also the scoping study(SS) that was supposed to be released this week is still in the hands of the consultants and no date for the release could be given. I suppose it is better not to promise, than not meet the date that was indicated."
In my own personal experience, a scoping report is an Excel Spreadsheet dressed with boiler plate verbage. I would SPECULATE that present POG volatility is the real reason for the delay. If we look back to when the SS was originally promised and superimpose the EXTREME VOLATILITY of the POG, the changes to the Excel Spreadsheet being used for the SS could be below the POG used for the Ore Reserve calculations. Meaning an Ore Reserve needs to assume a realistic POG going foward and this is not possible in the present POG environment. Thus in the last CC, WD suggested that it would be "a couple of weeks". In a typical NI 43-101 SS, PFS & FFS we can look for a Sensitivity Analysis to see how the present POG would impact on the SS.
An Ore Reserve (OR) calculation uses many parameters, not the least of which is the POG. This lets the OR program know what is Ore and what is not ore in order to come up with the inferred and indicated ore classifications. Point being, we saw $1325 being used in a recent company presentation and we have a POG below that. Thus it is my SPECULATION that the "board" is waiting for "the bottom" or rebound in the POG before letting the consultants know what POG to use for their spreadsheet calculations.
BWDIK? Last week, in the MACRO world economy, there appears to be a race to the bottom whereby the currencies of the larger trading countries are being debased in order to support their exports. e.g. despite continued QE, the recent rate cut by the Euro saw the $US appreciate, and since the POG has a negative correletaion to the U$, (the jobs report not withstanding), the POG gets rerated downwards.
Cheers
Stanley