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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: LoneClone	4/1/2022 3:53:02 PM
	of 78405

OGC Oceanagold aka OGC released an extremely detailed update on their Resources and Reserves today. Set aside an hour if you want to go through it in detail, but the bottom line is that Proven and Probable Reserves company-wide were down about 7% in the last year, primarily due to mining depletion, while Measured and Indicated Resources were down almost 10%, partly due to mining depletion but also reclassification of some former Resources at Macraes in New Zealand as no longer considered to be economic. As well, their much smaller Inferred Resources declined almost 10% as the result of conversion to M&I through drilling. These declines do look alarming at first glance, but much of the decline is due to exactly where they are in the development and exploitation of each of their mines and prospects. Resources and Reserves will start growing again, or at least not declining, when planned exploration and development ramps up, particularly at Didipio when exploration halted altogether during the licensing kerfuffle. That said, I would not be surprised if they are looking for acqusiitions as another way to bolster those numbers. Message 33783682

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