Geology perhaps or with a combo of the gold price? Yes you are...

Geology perhaps or with a combo of the gold price?

Yes you are right on both counts. There is a gold price assumption in determining the cut-0ff grade, hence the reference to qualifying "as economically mineable" in the JORC definition that mainholm posted. All of NTS's mines are high grade underground operations so the scope for bring ore with grades under the cut-off into the mill feed if prices rise is less than where you might have a high tonnage operation where the gold mineralisation is more diffused through the host rocks. That's the geology aspect. Where you have a very sharp fall of (such as in high grade vein deposits) between mineralised rock and unmineralised rock the flexibility in altering the size of the resource by lowering the cut-off grade is less.

As far as suggestions by some posters about going short NST, I'm flabbergasted. Surely on the whole of ASX there must be better opportunities to target than a best in breed gold producer operating at some of the highest margins in the business. It would seem that that poster only arrived after a few disparaging comments where passed about certain IO company directors. I'd say that poster would know very well what a hard bear trend looks like. Esh