RE:RE:RE:RE:This might be too perceptive but...You studied them?, so why is it you never refer to them, or make use of them? Yes, reports are not new, however, being based on 140,000+ samples they will always be of value. Yes the grade came in lower and it seems they dilution is higher than was expected. However, we are not told how much of the observed change is due to each factor. With longhole stoping with 30 m length holes, there is going to be dilution and some difficulty following grade outlines, that is a well known trade off related to this low cost high productivity method. The entire market knows the mineral reserves are going to be adjusted down due to the combined effect of both, maybe as much as 25%, that is why the shares are discounted, reflecting the actual grades. The share values still work out to be very reasonable, people need to understand the revenues and cash flows that are set to occur ahead. As mentioned by Fleckenstein investors should relax on their pre-occupation with grades, and focus on revenues.
Anyone can post on Angry Geologist blog, (even me!) Tom has called things wrong every step of the way for years now, so I would hesitate to tell others to pay attention to him,,,