Originally posted by TrendTracker
So what were the estimates for Mace before the announcement? I think Pints had 100k and enough profit to pay for the mining plant. What happened to the 5 g/pt?
Well here we are with a Friday afternoon release which pretty much means that you don't even have to read the release and just assume it's a stinker. It goes past a stinker though. 20k INFERRED and at a 0.1 cutoff which isn't far away from the low grade stockpiles Esh keeps reminding us of being fed into the mill.
1.4 g/pt is worse than the main deposit.
But hey when reality differs from the expectations you've been dreaming about i'll leave you a couple of Esh quotes to keep you all on the bandwagon.
"The mining cost will be practically zero..."
"Say the real grade is 5 or 6 times higher than the grade estimated in the infered resource..."
There you go 1.4 g/pt becomes 5+ g/pt and instantly we get to 100k and perhaps it will pay for the plant as well. Sleep tight Esh and remember "dreams are free".
Shows you haven’t read the announcement.
This is not 0.6 g/t marginal hard ore that needs to be ground to an inch of its life to be processed, it’s highly valuable shallow soft ore with a grade estimation issue, which in the end will likely return more to EXU shareholders, once properly evaluated and mined, than the whole of the RMS offer combined IMO.
The diamond drill results and panned samples point to what we are dealing with here, not some statistical estimate based on flawed sampling techniques. If RMS would just clear off and leave this company to its own business they will get on with the job in the honest and methodical way they have been progressing so far.
RMS should be concentrating on how they make a buck from the Marda purchase. The fact that project is being bought from a liquidation might have something to say for how profitable that project might be. That purchase also seemed pretty rushed IMO. Hope for your sake that they did proper due diligenece on that one. Esh
