Hi Toma. I too am waiting for the GE people who "assume" they know all, and love the stock to answer his questions. We will see !!
If I may be critical for a moment;
For example, he estimated the total volume of the ore bearing body at only 30 to 40% of the volume that could have been estimated based on topographic data. As far as the existence of a Trites report - I don't have that information.
Are you aware of any company that bases any calculations of resource on "topographical data"? I haven't either, so my assumption is that you feel the topographical data can be used to produce inferred and indicated. I do not share that sentiment, in fact it is a concern. Topographical data can be used in concert with widely spaced drilling or trenching. The stated "third dimension of depth" has been a concern of mine from the get-go!!This goes back to my Hemlo statement, just because you have a huge find in one place, you cannot "assume" it is contiguous, nor can you ssume that it is consistent! The only thing you can assume is that you have more work to do!!
Anyway, reported values aside...the nest a critical step is the verification of these reports by another firm. Although they already have data to look over...this firm will have to collect confirmatory samples, check Mr Paravicini's statistical analyses, check the analytical laboratory's QA/QC results and certifications, etc. They (the "third party firm") will have to be extremely careful in their analysis of this deposit. We can't expect this to be turned around quickly. While I want GE to respond quickly to quell all the negative press, I desire a thorough, quality-minded investigation, that will stand on it's own merits.
Excellent summation, and if I may add... The confirmation will only extend to the "proven" category and not extend to either the indicated or inferred. Therefore, "for the speculators", the confirmation of proven, will "insinuate" although unsubstantiated that the indicated and inferred "maybe correct as well"!
Excellent post Toma, respectfully
the Chief |
