RE:RE:RE:RE:They won't ever see the 16.5 g/T Including dilution properly, brings the shortfall versus life of mine average down to 35%. Nobody has every said that this deposit will be homogeneous and uniform throughout, very much not the case. When they wrote 20 - 25 %, call it 22.5%, what they are saying is that the projected grades where they have mined to date were at below life of mine average locations.
That is 8.9/0.775 = 11.5 g/t. So they have mined 210 cubes, 10 metre dimensions, which were only hoped to be 11.5 after dilution, so what they did mine was 2.1 g/t below diluted average. Thia may turn out to be reasonable, for level development and establishing the base at 1200 level, without their grade control system in place. The 22.5% difference will reduce with grade control system, and perhaps with mining higher up into more representative zones.
I am not saying people should invest based on an assumption the grades are going to start coming through at 13.6, matching projections, it may well happen that grades will always be 10 - 15 % below the original projections. If so then what should the share price then be. I think it should be far higher than where it is trading now, the exploration potential can also be factored into the share price as well.