RE:ounces at comet wellAustrian007 wrote: This is the way I see it..
Strike length of 2500m and a width of 500m. Assuming an average depth of 10m for the ore body though else where I have seen reports that it could be upto 30m.
applying a density of 2.5t/m and a grade of 10gm/t (which I agree is possibly on the lower side).
So this will give us about 10MOz at comet well... which I think is spectacular.... especially given than their cost of extraction would be minimal at $200 to 250/oz.
So we can expect a jump to atleast 10+ if not much higher when the sampling results are announced by mid-April... Even this would value NR at about USD 2B and remember that CW is just a small piece of the Novo pie at Karratha.
So great times ahead..
I think CW has around 6km of strike length (and the layer is around 15m thick). Powerline (part of CW) is around 2.5km.
I agree that the 10 g/t could be light, and the 500m also (its probably gonna be tens of km's).
So my napkin resource calculation for CW is (6km - 15m - 10g/t - 500m) 37,5M ounces.
Worst case (imho), its only 3m of 10g/t, so 7.5M ounces. Imho novo is way undervalued based on CW alone.
Novo has a land package of around 10 000 square km's. CW in this calc is only 3...
When i projected the Purdy' style conglomorate over Novo's land package, it was still undervalued. CW's geology appears to be 6-30 times better!!!
Remember this when novo reaches 5.5 - 7 or 9. It will look and feel like novo is getting expensive by then, and many will sell.
But always remember where this COULD be headed!