RE:RE:RE:RE:RE:RE:FVL Mentioned on Sprott Today
Lester55 wrote: They have a high level of confidence that within the 40,000 meter hole program that there will be a monster hole that will greatly increase this resource.
I for one agree. All this going to happen during the time that gold will rise $$.
I heard the podcast however take it with a grain of salt. First of all you all know what I think of FVl and I have detailed it many times here. However the guy on the Sprott webcast was silly on a few points:
1. He stated FVl "proved up" 6 M ounces. No they have not. They have about 1.5M indicated and 4.5 M inferred going back to an old outdated 43-101. However that is what they have. Now of course they have the 16 deep holes from FY 2020 program and now some released in the FY 2021 program. These are all very deep large intercepts and will add a lot of gold ounces in a future updated 43-101 in the indicated and inferred categories. A lot meaning several million in my view. They do not miss a hole. Not proven and probable reserves at this point since you need a PFS level 43-101 for that. Long way off. I do not believe this story is about "waiting" for some type of hole since a single hole is not how a resource is put together.
2. He also ranted about that FVL if they end up with 15M ounces (I am paraphrasing), that maybe 4-5M is 20gpt then the market will get it. Something like that. That is not what the market or long investors are expecting. That is pie in the sky type stuff.
He is right that the market will get this story in due time.
BC
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propnote the