Originally posted by eshmun
I think I’d be more worried about where RMS will be in a few months time.
Hopefully EXU shareholders will see out RMS soon and welcome ALK onto the register and we will take advantage of their balance sheet strength.
As for your comments about the Mace sampling I’m not going to trust a physicist who doesn’t work in his own field somewhere in Germany over experts that are working literally in the field and on the ground in Western Australia who have told us that
“The results show that the RC results are biased low above approximately 0.6 g/t Au, with the diamond control samples being higher on average than the RC drilling. The means of the two data sets (with diamond data set capped at 63 g/t, the maximum grade in RC population) are markedly different (9.4 g/t for diamond and 4.1 g/t for RC), which is due to the several high-grade ‘outliers’ in the diamond control data set that are not present in the RC dataset.”
We have got a mean diamond drilling grade of 9.4g/t and considering the problems described about the splitting of the clayey RC samples on pages 11 and 12 of the announcement, I’m convinced with the competent persons qualifying statements that are described as follows
“In the Competent Person's opinion, the sampling and sub-sampling were not always accurate (leading to lower-grade bias), and often imprecise. However, based primarily on the results of the diamond control drilling, the methods are considered marginally fit for the purpose of resource estimation. The likely under-reporting of Au content provides a potentially significant upside to the project but can only be proved with better-quality drilling or mining.”
As per the competent persons statement the methods were marginally fit for purpose, ie pretty useless in layman’s language.
The company has clearly and honestly stated that
“It is clear that the RC drilling does not efficiently recover coarse gold, likely due to a combination of drilling type, splitting process and analytical process, whereas in the diamond core drilling and sampling, apart from perhaps minor plucking effects, all gold in the primary sample is reported in the final assay. Sonic drilling, followed by whole-sample leaching would be the best drilling and sampling method for this type of mineralisation and host rock.”
You either believe the announcement or you don’t. In my own experience I tend to believe this announcement and I think that what we are dealing with is an easy to mine very high grade and extensive layer of coarse supergene gold that is likely to be replicated over areas greater than the 700m that has been captured into this intial resource estimate. I honestly believe that the economic value of the Mace deposit alone in the final analysis will be worth more on a cash flow basis than the entire value of RMS offer. Just look at the results of the diamond drilling, they are the most representice results. Mace is a very high grade layer of supergene gold at very shallow depths in a soft clay which is easy to dig. The metallurgical results so far are also showing a 96% recovery at low cyanide amd low lime consumption with low concentrations of deleterious elements.
I feel sorry for people that can’t read the English language and who think this annoucemnt stinks.
Eshmun
Look at how far you've fallen. Drinking the kool aid and actively passing it on to others.
You'll excuse our ignorance though right? After all we've just read the long awaited Mace announcement tucked away on a Friday afternoon which tells us Mace is small and low grade, but you are telling us that is actually big and extremely high grade. And if we don't agree it's big and high grade even though the report says it's small, then we don't know how to read.
Anyone concerned that the Mace announcement comes out directly after the "Independent" report and after shareholders voted on the ALK deal? Seems like they delayed it leaving shareholders dreaming over the Mace deposit to get the voting they wanted.
