RE:RE:RE:RE:RE:RE:Interests and conflicts...Terrebonne--I'll answer your questions the best I can but you should know that I am not a 43-101 compliant person, or even a geologist. I was an accountant.
I did read the Windfall tech report on SEDAR when the first Oban consolidation deal was announced with Ryan Gold, Eagle Hill, etc. Your engineer buddy echoes my thoughts exactly.
When I read a 43-101 report, first I go the executive summary statements, which are frequently good at highlighting key issues but are also a "soft sell" of the project in that almost all of them are at least a "project of merit" at a minimum. I then decide if the rest of the report is worth reading, but in most cases I at least skim through the entire thing, and spend extensive time on the caveats listed in the details of the work perfromed and its limitations, and the list of work required to achieve the next step in the 43-101 report progression.
My observations from the report filed on SEDAR by Eagle Hill on June 10, 2015:
1) At least half of the intended mining plan resources are Inferred. Actually, 56%. Ever heard of Rubicon?
2) The ore bodies are indeed scattered, fractured, and derived from several events. Different types of ore exist, have different levels of sulphur, orientations, dips, etc. This can increase the level of complexity in milling/recovery, mining methods, AND tailings management.
3) Look at the pictures of the core that they show--different rock types and mineralizations.
4) Grade capping is WILDLY variable for the different types of ore. Caps of 100, 200 and 250g/t?!?!? On Indicated and Inferred resources?!?!? A red flag to me.
5) Look at the Longitudinal Section Views for Zones 27 and the Caribou Zone--I see lots of development work and expense for scattered ore bodies, just like you engineer buddy did. These two ore bodies are a major portion of the intended mine plan.
The PEA technical report lays it out, but you have to actually read it and understand it, not just put on the rose colored glasses and join the cheerleading squad.