GREY:ALXDF - Post by User
Comment by
goldhunter11on Sep 13, 2018 11:15am
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Post# 28612204
RE:A million bucks
RE:A million bucks cruise,
Interesting observation. But, it 's cheap enough to send the cores out for assaying, just get them out of the way, and management can claim that they are active in producing "resuts" (assays) for shareholders without having to re-do the RE right away. Similarly, in-fill drilling will take some time to produce the results to be used the new RE, but this would also give shareholders (and potential suitors) some indication that the future prospect for a better RE of Orenada (without actually doing it) would be rosy enough.
One of the key reasons for a reduction of the 2018 RE compared to the 2009 RE was the compliance with the new regulations. Apparently, a good chunk of the RE (for Zone 2?) was disqualified in the 2018 RE was a more restrictive application of the data in the Whittle model). Further in-fill drilling, or additional assay results, would bring back some significant number of ounces (in the range 0.125-0.250Moz) to a new RE for Orenada.
Cheers,
GH
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cruisemissle2012 wrote: If these guys were to send the idle core samples to get assayed and revise the RE to a very attractive positive it could easily be linked to Owens’ doing and give him fuel to file an I told you so lawsuit. Current board needs to poke a few holes of their own to legitimize the program as being the work of them and no one else. Covering their butts.... and this could be the most fruitful million bucks this company will have ever raised and spent.