RE:RE:RE:RE:Spin it all you wishFast
I am not sure about getting to the 8-10 million ounces. It was definately looking very possible prior to the latest batch of drill results which were not good. Alot will depend on the next batch! I have heard the 8-10 million number including a possible large drill program following the current one. However,based on the technical report the next phase of drilling will likely be mostly infill stuff rather than expansion drilling so the 8 is more likely than the 10. The 8 will be tough based on the last results. Heck look at some of the holes! One of them you need to go 3 football fields deep to access the ore and even then it is like a strip ratio of 4 to 1.
Remember these ounces are all inferred so the level of confidence is low as to the economic viability. Personally, I question the economics of Aurex so I discount the ounces applied. I am not sure how they can make any money on .60 gpt at a .3 cut off grade. Further I suspect the actual cut off would be higher. My reasoning is based on what Victoria Gold is doing. Check the grade of the ore they have been stacking much higher and they have been struggling to make money. Additionally, they are using a lower gold price for the pit design. On top of that the latest Victoria Gold in their latest technical report show a much higher mining and processing cost than what Banyan is using unless I am reading something wrong!