OTCPK:HCGI - Post by User
Comment by
JRaffleson Mar 29, 2017 12:30pm
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Post# 26046810
RE:RE:About reserves..
RE:RE:About reserves..
We note that the Canadian assets saw their resource base contract by 7.2%, but much of that is due to conversion of resources to reserves at the Macassa mine.
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With regard to the above paragraph taken from the Louis James comments, I cannot see any reference to a contraction in the Canadian Resource base, in either the 28 March press release, or alternatively, the MDA also published on SEDAR on the 29 March.
Page 9 of the MDA states “…. The 2016 Mineral Reserve and Mineral Resource estimates will be filed under the SEDAR profile of Kirkland Lake gold Ltd on March 30 2017….”
Could Louis James have access to Mineral Resource estimates before it has been released on SEDAR?
Notwithstanding the above, the conversion of Resource to Reserves results invariably results in a contraction, using industry benchmark conversion ratios.
Furthermore, since the Macassa gold ounce Reserves illustrated in the MDA (page 10) is 2,010,000 ounces at 20.8 gt grade, this amounts to nearly 7 years of Macassa sales.
…… in conclusion, does Mr James’s comment in this regard have any relevance to investors?