Bob, your post is so damn rational it is painful.
I think I have misjudged your past posts and if so apologize. I was going to skip answering the poor guy who posted about licking his wounds -- and IPM being a shell in days... but you inspired me. I was going to say to him that while the short may may some money on Monday, actually, IPM is looking more and more like a mine not a shell. Not sexy, not flashing neon, not internet hypey of "the greatest this, and highest that, zillion$-a-share overnight" but a boring old mine with grades typical of Nevada material -- that if it is to work will be processed cheap by some variation of heap or CIP.
I've been told by a metalurgist I trust, once you can consistantly fire assay metal -- it can be extracted. IPMs fire assay is new, has only finally after 4 years come into being after Bateman came on the scene, and I do expect it to improve. IF (big caveat emptor IF) IPM does become a mine, I bet just like Barrick on the Carlin Trend, recoveries will exceed fire assays.
As a cautionary note, I think it is too hypey when you write about .036 x grids and call it a resource -- we are not there yet -- long way to go -- but it does seem from the PR that if we assay enough Bateman is disposed to declaring it a resource. I rather you describe this as have the potential of x resource at these grades. But, yes, through my frustration with this PR, I do see the obvious potential you point to.
Lew Green |
