Elizabeth,
You have a funny habit of never answering other people's questions. All you can do is criticize and ask more questions. Kindly respond to my questions from other posts, which answers part of your present questions.
The drill inferred resource at TG-1 of 42.3 million tonnes of 2.04% copper, 1.47% zinc, 37.7 g/t Ag and 0.36% is taken from Manhattan's news release dated March 12, 1997. It is repeated in the news release of July 20, 1999. This resource is also published on page 1 of the Northern Miner from the July 14-20, 1999 issue. This is published information from the company. If you have a problem with it, call the company. As I stated in my message:
>>FACT 5: TG-1 represents a resource of 42 million tonnes averaging 2.04% copper, 1.47% zinc, 0.36% Pb, 37.7 g/t Ag.<<
The specific word used was RESOURCE.
Manhattan is still in the exploration stages at Tambo Grande. According to the classification of reserves and resources published by various organizations (e.g. CIM, OSC), being at the exploration stage means the best you can get in terms of resource definition is inferred resources. If Manhattan goes to the development stage, which will begin with a feasibility study and definition drilling, the resources can then become categorized as proven, probable, mineable etc. Manhattan is not conducting definition drilling nor is it conducting a feasibility study. IMO, the TG-1 resource has been shelved by MAN until they receive permission to move the town. Whether or not they get permission to move the town depends solely on the residents of Tambogrande and the Government of Peru. Until that time (if it ever occurs), TG-1 remains as an unmineable resource. It is a logical move for a resource company to stop working and spending money on something that can not be mined such as TG-1.
Please post the message number where I stated, "the grade distal to the vent would be higher than the first holes published on TG-3". First of all, any VMS deposit represents several vents. It would surprise me very much if TG-3 was distal to a vent. TG-3 mineralization is the accumulation of sulfides from several vents over 100,000's of years. TG-3 is the sulfide accumulation that was "exhaled" from the vents and the stringer zone beneath it is sitting within the syntectonic fault system that hosted the vents. Secondly, the drill results will be out soon on the remaining holes for TG-3. THE ONLY THING THAT FURTHER DRILLING ON TG-3, AND ANY OTHER EXPLORATION PROJECT, CAN DO IS IMPROVE THE STATISTICS. The drilling can not guarantee higher or lower grades, larger or smaller widths or anything else. MAN can only get a better estimate of what is at TG-3. And there is a sulfide body at TG-3. Neither you nor I can conclude a thing on the average grade of TG-3 yet. We can only speculate. The TG-3 lens is still open on all sides except at depth. Your speculation is obviously that TG-3 will prove to be uneconomic. My speculation is that TG-3 is undefined. I am also speculating that where there are 2 there are more and by the time MAN has drilled all 15 gravity anomalies, there will be at least one economic massive sulfide deposit. Take your short and I'll take my long. Contact me when you cover. I'll definitely contact you when I sell.
Bruce
PS: Several analysts are going to visit the project. Perhaps this will give everyone a more objective opinion of the current situation. I am sure you will have something to say about these analysts as well, Elizabeth. You have already cued it up by saying your guy isn't going. |
