RE:RE:Funny the beat down the day before There was a lot of talk about 2 million ounces, and the estimate comes in at 1.4 million M&I. Looks like Mr. Market was not impressed.
OTOH, there's that .7 million inferrred. In the past these guys have drilled the resource enough to get almost all of it M&I. This time they sped up the schedule on an estimate, while the drilling campaign was ongoing, and one result of that is that a significant chunk of the resource still falls in the inferrred category, which Mr. Market tends to ignore. Inferred ounces generally are not included in a PEA.
The gold is there. I expect that the ongoing drilling will convert all that Inferred to Measured and Indicated, and add some ounces before the PEA is done.