EC, many thanks again, you have gone beyond the call of duty! Just to make sure I got this straight, in order to be called "reserves" they must meet the criteria of being a "measured resource", is that it? And if they don't meet that criteria then they are not "reserves", but only indicated or inferred resources, right?
Assuming the above is correct, let me use the following example as my last question (I promise!). Let's say a company gets a 43-101 compliant study done, and it shows some "reserves", and also some "indicated resources". Let's say that the quantity of the "reserves" alone is not enough to make extracting the gold economic, but if you added the "reserves" plus, say, half of the "indicated resource", you would have an economic quantity of gold. Do you think the market would place much value on this kind of report or would it instead wait until such time that work was done to convert some of the "indicated resource" to "reserves"? In other words, do these stocks move more on the sizzle or the steak?
Thanks again for all your help. BTW, if you ever want to learn anything about energy stock investing, by all means fire away! |
