russet,
Even IF there is a geological resource of 10 million ounces, how many will be mineable and at what cost? This deposit is in a faulted graben full of porous clatic sediments, in a valley bottom with a river running through it. Ground water problems WILL be horendous.
First, ARU has to get enough drill holes completed on a tight enough spacing for a 43-101 estimate of proven, possible and probable gold mineralization. Second, geotechnical studies must be done so some sort of pre-feasibilty study can be completed. THEN, it is likely that some test underground work must be done to gather emperical data on actual ground conditions underground. Once those results are in, a better idea of recoverable ounces will be available and what it will cost to mine them.
If a promoter or company representative made the kind of statements that the analysts are making, and with no 43-101 in hand, at the very least, they would be hauled up on the carpet and be requested to clarify their statements. Apparently, all the news rules and laws are for only the companies and their consultants. It appears that analysts can make any bullsh*t statement without risk of liability for themselves or the brokerage firms and banks they work for. Oh, I forgot, these brokerages and banks regulate and oversea themselves. |
