Inventus Mining Corp V.IVS

Upsides to Mini-bulk sampling at Pardo.

[goldfinder21]

There have been concerns about the chioce to do a mini-bulk sample as opposed to the long-awaited 50000-100000t bulk sample at Pardo. Here is my take on why mini-bulk sampling is a more effective exploration strategy for Pardo. 

A large bulk sample is ideal, it carries potential for profit from the bulk sample itself (as in the last bulk sample in 2018). However, it is more costly and less effective in generating overall interest in the deposit as a starting point, for a number of reasons.
1) It is hard to find a mill, especially now, that will set aside part of it's time to process a 50000t (multi-day) bulk sample.
2) It only gives a resource estimate for a single area. The primary control on bulk resource estimates for a PEA in Canada is traditionally drilling (DD, RC), which is shown to significantly underestimate grade at Pardo. Starting with a single bulk sample location, although good for determining grade upside locally, does nothing to expand the upside potential for drill data at the deposit scale. 
3) Money to do a large bulk sample has to come from somewhere... dilution through PP more likely as (despite good results throughout the project) it is harder to attract partners based on (2). 

Inventus is actively (as we speak) processing mini (1t) bulk samples at the property. 
IMO this is actually better than a large bulk sample because:
4) It is lower cost, both to execute, transport, and process.
5) It should give relatively similar results to a large bulk sample, assuming relatively homogeneous grade throughout the unit, and should therefore still show an upside from drilling  as 2018's sampling did.
6) It doesn't require a production-scale mill. Of course, the potential profit to be gained from each tonne of extracted material is lost this way, but many analytical companies have the capacity to process these quantities of material (e.g. SGS).
7) Already knowing the recovery and waste ratios from the 2018 bulk sample, this is a more effective way of extrapolating grade and upside potential across the property, something that a large partner would require (see 3) to better estimate risk. This will be more effective than drilling, as has been previously shown. 
8) This will allow for larger, potentially profit generating bulk samples to follow.

Look at the SP prior to the past Pardo bulk sampling in 2018 (low gold price) and earlier, prior to good results in the early 2010's. Many investors have forgotten about Pardo (one could argue, rightfully, so given the delays since 2018), so IMO we are currently in one of these pre-result lulls. With gold near ATH, and the easy  extraction and processing potential for Pardo, good news from these mini-bulk samples could act as a major catalyst for future partnership at the property. In the case of many gold-hungry mids-majors that are struggling to meet processing and exploration capacity or are seeing the eventual decline of many historic Tier 1-2 resources, Pardo could be a potential buy-out opportunity to meet these demands, once risk/ potential is better understood. 

Give me your critiques, I'm keen to discuss. 

Goldfinder21

[shneps]

You are bang on Goldfinder. No discussion from me, I completly agree wih all your statements.

[ggrellette]

Excellent promotional post Goldfinger21 Sadly enough time has past, TIME TO EXECUTE