RE: Barruch, please enlighten Us on Nri SpruceBruce,
First of all by referring to me as "smart guy" you are either trying to indicate disrespect, or admiration with a poor choice of words. Which was it?
Now then you ask, "how many gold ounces of proven reserves do they have?"
Resource ounces are put into the reserve category after sufficient drilling, and after atleast a preliminary feasibility study. Not before.
A preliminary feasibility study for Donlin Creek has not yet been done, so all estimates are still in the resource category.
Here's the most recent:
Table 1. November 2002 Donlin Creek updated resource estimates:
2.0 g/t cut off grade
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Resource Tonnes Grade Contained
Category (Millions) Gold g/t Ounces
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Measured 5.093 3.81 623,000
Indicated 68.124 3.49 7,636,000
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Total M&I: 73.217 3.51 8,259,000
Inferred 132.628 3.48 14,829,000
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1.5 g/t cut off grade
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Resource Tonnes Grade Contained
Category (Millions) Gold g/t Ounces
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Measured 6.684 3.32 713,000
Indicated 96.520 2.97 9,220,000
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Total M&I: 103.204 2.99 9,933,000
Inferred 186.716 2.97 17,849,000
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That should answer your question.
Barruch