Balmoral Resources Ltd BALMF

Personal estimate

[PVNasby]

All this complaining that we haven't seen an estimate yet ...  
Why haven't any of you punched any numbers yourselves?  I worked on it over the weekend, at least to have something to toss out as my best guess (and as a good reason to not sell):

I have pages of notes that I won't go over here, but this is based on both Balmoral's drill results and the bases for Detour Gold's proven, probable, & inferred.  My first estimate was 2.13 million ounces, but I thought that was too conservative.  My latest (revised) number is 4.3 million ounces, which I would be VERY happy to see verified (or exceeded!).  Can't wait to see if I'm in the ballpark.

I pooled my separate estimates for high grade drill results plus the main ore body.  I worked with a range of volumes for ore body (roughly 80 to 320 million metric tonnes) as well as a range of grades (mostly 0.3 to 0.9 g/t, excluding the high intercepts), and tried to stay conservative/realistic.

Bottom Line: Using 0.6 g/t and 184 million metric tonnes, I came up with 3.6 million ounces, and then (somewhat arbitrarily) added 700,000 ounces of high grade, for a total of 4.3 million ounces.  A higher grade along with lower volume could also hit that estimate.  I do believe that should be in the ballpark. If not, I hope my estimate is way low.  I could reasonably multiply my total by 1.75 based on an optimistic/realistic grade increase to 1.05 g/t, which would bring my estimate to 7.5 million ounces - but I don't expect to see that.  Obviously my estimate only goes down 300 meters, and my model box is just a small part of the System dimensions.  Potential multipliers for (eventual) higher ore volume include (4X E/W length) times (8X N/S width) times (2.3 X depth) = nearly 74X (which would be a very unrealistic maximum limit, but 6X might be possible).

So - will a best guess of 4.3 million ounces win any prizes ???

Whatever Balmoral has, does anyone else believe that the "Abitibi Premium" for Balmoral could approach $1 per share per million ounces?  Is there any argument to suggest a different (higher or lower) valuation?  It amazes me that volume remains in the doghouse, and nobody seems aware of any potential here.  Please tell me - what am I missing???

[cadaval]

well done,sir

[Chaulkdust]

Nice work there PVNasby. Looks like you have put consierable time into your personal projections. I will be interested in what some of more knowledgable folks have to say about your estimate. I think only going down 300 meters is correct for the initial RE. While BAR didn't say exactlly how deep the RE would go they did mention shallow somewhere. Hopefully we won't have to wait until the

[chaney]

[chaney]

Second attempt to post. I like the numbers and it would be great especially with all the postive talk about gold.Question is what exactly does this RE encompass?

[goodtoreadthis]

The only thing u are missing is what all the various commentators at PDAC talked about -lack of investor interest in PM juniors. If Trump keeps up with his bizarre behavior those investors will show up here. 

[Hawaiii]

Very optimistic estimate. Based on the info i have, expect this estimate, to 300m depth, to come in at 225-400k ounces. Total resource, full depth, is estimated to be 1.5-2.5 M ounces. Cheers

[kbagai]

Well expect the stock to do nothing or go down if that’s the case.  

[chaney]

Regarding David Efrile, about a month ago I posted an estimate of about 500k to 600k and on March 26 as you can see below Hawaii posted 225 to 400k. So just why the hell was David so surprised when a couple of posters on this board were better informed than him? Maybe these so called experts aren't really experts at all.  As Hawaii stated below full depth 1.5 to 2.5 M ounces, I say