OTCQX:BGMZF - Post by User
Comment by
hammer161on Oct 17, 2014 3:49pm
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Post# 23038989
RE:Odd Wording Wouldn't you Say?
RE:Odd Wording Wouldn't you Say?
Yap - what make you think they need a scoping study to consider and open pit as an option? The resource reporting pit itself, which has to consider economic parameters, indicates that there is potential to open pit mine the 5Moz resource. You don't need a scoping study to have a resource now do you? No wrist slapping needed or warranted. 2.5 grams is high grade for an open pit gold operation and a 5Moz total is reasonably large. The mineralized material in situ would be worth $96/tonne at $1200 Au - lots of room there IF the ounces are actually there, IF the conversion to indicated happens and IF more refined studies (scoping, PFS, etc.) prove it economic. BGM's main problem in my mind is that many do not trust their data, resource modelling or resource numbers at this point. Items that should help quell these fears are not available in the latest 43-101 report as they are either missing or illegible.