RE:So Here is my reasoning!So now keeping in mind what I said about the spread or differential of cutt-off grade versus gpt to be mined. Here is what the company said. The company says because they have 4 million ounces of 1 gpt it is robust. However, look at the spread. They have to use .60 gpt as a cut-off or break even cost so the spread is still only .4 gpt in my book that is not robust. Look at the Moss Lake project they have almost 7 million ounces of gold of which they have about 4.2 million ounces if they were to use a .5 gpt cutt off and those ounces would be 1.22 Gpt much higher than the 1 gpt at Aumac and what does the market say about that project? Well Goldshore is trading at less than 20 million market cap or 1/4 that of Banyan. In other words there is alot more to mining than just how many ounces you have and Banyan is fairly priced given how early stage they are. Remember all their ounces are inferred so there is an even chance the grade would be consitent with infill drilling or a chance the grade will be slighlty lower or slightly higher. Slightly lower would be a project killer. There is also a chance all the ounces may not be their. Long way to de-risk they need a big infill program this year to de-risk followed by a PEA.
" Looking at the grade sensitivities, at a 0.60 g/t cut-off there are potentially 4 Moz at a grade of 1 g/t across AurMac, which highlights both the robust nature of the deposit as the cut-off grade is increased along with the potential for higher grade zones."