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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Claude Cormier who wrote (1006)12/27/1996 3:51:00 PM
From: TrueScouse   of 35569
 
Claude:

<< keep a close watch on the reserves, they are the key>>

Couldn't agree more. All of the estimates so far are based on an assumption of 50 million tons of ore to 100 feet depth on the first grid. I am curious to know if you think that BD will insist on a re-assay of all the samples to date before signing off on a reserve estimate? From what I see on the website, the company tested samples from every 5 feet of the 121 drill holes -- or about 2,400 samples. The results by the previous methods seem to be very consistent across the entire grid. Is it possible that BD will simply extrapolate from the previous figures, using the results from the new assay procedure? I'm sure that they will want to do quite a number of check assays on some of the previous samples, but is it really necessary for them to re-assay all 2,400? I would not have thought so, but I would be interested in your opinion.

Also agree with your comments on the platinum. The implications of a find of this scale should not affect the price of gold much, but platinum is another story. However, as CL points out, industry may rapidly find many more uses for Pt if it was in plentiful supply.

Exciting times! Happy holidays to you and your family,
Howy
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