BNR 2.50% 4.1¢ bulletin resources limited

Ann: 31 December 2015 Quarterly Report, page-15

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  1. 284 Posts.
    lightbulb Created with Sketch. 10
    Hartley says are probably more than just 4 years ...

    Pantoro
    "We see potential for immediate extension to the known orebodies at Nicolsons. An independent evaluation has concluded that the total resource potential of the Nicolsons mine is ~500-750koz (currently ~163koz). This independent evaluation and our site visit suggests the Nicolsons mine will most probably be similar to other underground gold mines in Western Australia which continue to operate with a rolling ~3-4 year minelife for ~10 years. It appears that the current reserve has been doubled on the currently developed levels by virtue of the reserve overcall achieved to date.
    Initiate coverage with a Speculative Buy recommendation"
 
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