SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Golden Eagle Int. (MYNG)
MYNG 0.0700+5.7%Feb 21 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Claude Cormier who wrote (30591)2/23/2003 5:01:49 PM
From: ubetcha  Read Replies (1) of 34075
 
Claude,
"They could decide to prove reserves because there are methods (although expensive if not very expensive) to do it including processing thousands of mini-bulk samples all over the property. But that is not what they say in their business plan."

This is one part that I do not understand. If in two-two 1/2 years they get 10 plants operating, and are pulling earth (ore) from several parts of each location, why does this not in itself prove reserves? As each plant comes on line in the long term scheme of things, the "older plants will be pulling ore from differing layers of the area that they are sampling (mining!).

If I have a lake, and I pull water from 10 different locations and multiple depths and all is foul, is it not conceivable that I would say that the entire lake has the same degree (%) of foul?

The way that I see it is that once they get a number of plants going, and they all yield certain grades of gold, that it is possible to assess reserves for the area. This to me would "end up with enough samples to statistically prove that there are a specific (large) number of ounces in a specific area of the property."

Makes sense to me, but then I am not a mine statistician! Is that kind of like a lawyer?
Terry
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News