RE:RE:I will be very interested in the reservesI've pointed to this blurb from Kirkland's website before, and maybe helps to alleviate your concerns with respect to depletion. Based on the below, Kirkland has explored approximately 2% of their Fosterville property.
The Fosterville property includes approximately 1400 km2 of additional land package with numerous brownfield and greenfield exploration targets which are forming a key aspect of the Company's ongoing exploration efforts. Exploration programs to date have traced only 20km of potential gold bearing structures, highlighting the exceptional exploration potential of this premier gold district. Drilling continues to intersect high-grade gold results in multiple zones and reaffirm increasing grade profiles with depth. https://www.klgold.com/assets/operations-and-projects/australia/operations/fosterville-mine/default.aspx
subopolois1 wrote: goldstd69 wrote:
proven and probable...for every ounce a miner produces they have to find or replace that ounce to stay in business...that was from an uncle who was a very good geologist in Montana and Nevada....jmho
This is just the ideal situation. In reality it never happens unless you go out and buy more mines. One thing that people seem to forget when they say things like this is that ore deposits are not infinite. They deplete and eventually mines close down