With the busy weekend I've had I've had some time to do some thinking and research and would appreciate to hear some thoughts on what I've been led to.
The "Teaser Presentation" that was leaked was probably not leaked on purpose (that becomes important in the 2nd chunk) and it stayed 2.5 M Oz of gold proven which we are not necessarily thrilled about. However here comes some optimism, if it was truly a teaser presentation as it was suggested yesterday then that is great news, historically speaking teaser presentations don't show the full picture and generally the final number is UP TO (not guaranteed) 3-5x more than the shown number (for gold only right now). If you think about it it makes a lot of sense because if you are teasing someone or something you're going to give them a small taste to lure them in and then once they sign NDAs you give them the full picture, look at it like a bakery giving a sample to try to get you to buy the full thing. Real world examples look at Microsoft buying LinkedIn or Apple buying Beats, the teaser presentations that were pitched didn't show the full picture, they showed a small portion of the picture or extremely conservative estimates. This leads me to believe that the LME teaser was only a portion of the property. Realistically I wouldn't be surprised if it's the most heavily mineralized zone as that would truly lure someone in so maybe 5x the 2.5 is a stretch. Another thing to consider is that the 2.5 M Oz or however much we want to go to looked to be Gold only and it was mentioned months ago that GEOs are lat a minimum 1-1 ratio, sure you probably won't get the $350 per oz for GEOs and we can argue about prices and numbers all day but for now I believe this is something to be optimistic about as at a minimum you're looking at 5M in gold and GEOs.
As to why the 2.5 M Oz was removed from that same presentation there are several different routes and not all of them are positive, the first is that it was a legitimate leak of a teaser presentation so they had to go back and make edits due to 2.5 M not necessarily being publicly disclosed information. The 2nd is that it is possible that the estimate was wrong and if it's wrong it's likely to have been an over estimate but if that's the case then it likely wasn't a "teaser presentation". Lastly it is possible that there are some compliance laws and regulations that forced that number to be taken off to avoid any legal issues.
Just my own opinion through my research, would love to hear thoughts and spears. God bless!