Hi SpeccyI agree a total joke. Funny, but I don't feel like...

Hi Speccy

I agree a total joke. Funny, but I don't feel like laughing.

My very small envelope on which I have done a few calculations puts the "resource" numbers in perspective. Over the Vardy/Marley resource of 3.6km the company says the resource contains: 224,000t Cu, 306,000t Pb, 315,000t Zn, 30 mozs Ag & 44,000t Co.

Assuming this converts at say 2/3 resource to reserve, the numbers are approx. 150,000t Cu, 200,000t Pb, 210,000t Zn, 20 mozs Ag and 30,000t Co.

Can we assume that the 5.7km of resource to the west of Marley is the same grade/thickness? No we can't, but what info says there is a better assumption? None, so we can add about 1.6x to the above numbers to get the new total: 390,000t Cu, 520,000t Pb, 545,000t Zn, 52,000 ozs Ag & 78,000t Co.

At spot prices (another big assumption, but what better numbers do we have?) the metal in the ground is worth a lazy $7.93 billion. Oh, and it is open in both directions along strike. Mkt cap $161 million at 27.5c per share

Whoever ends up with this resource will certainly be laughing.

DYOR