BUX 3.92% 5.3¢ buxton resources limited

Ann: 6m @ 2.51% Nickel Equivalent at Conductor H, page-13

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  1. 1,102 Posts.
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    In order to state that something is "mineable" you should have a costed mine plan.

    Looking at the history of discovering and drilling an ore body, you would progress from
    - having a series of isolated drill intersections, (where we are now) then
    - with further drilling, an understanding of the shape and extents of the mineralizations, then
    - with even further drilling and mapping (and probably trial mining), a concept of how you will access and mine the deposit, then
    - after lots of metallurgical test-work, mine designing, costing of infrastructure, consideration of market forces, and financial planning,

    you will finally have a beast that you can call a "reserve" and is "mineable".

    To be fair to this announcement by BUX, they are not even trying to pretend that they have a costed mine plan. No *"reasonable person" is being mislead by their announcement.
    --------------

    * "Reasonable person" takes the meaning from a beautifully simple centuries old British legal definition, as one who "has an understanding of the ways of life and is not inordinately stupid". In a court of law a reasonable decision is a decision taken by a "reasonable person" having full access to the relevant facts available.
 
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