If you guys had read further into yesterdays announcment you would have read:
"The Alliance Shoot, which is in a similar structural position to the Alliance South Deposit, was between 35 and 60 metres wide and extended over 230 metres down plunge. It is possible that the Alliance South Shoot could be of similar dimensions"
so instead of just looking at 3 metres going by the height of the drive as the vertical dimension , I am seeing 230 metres as the vertical dimension So potentially 77 times as many ounces as you calculated 230/3 =77 77*600 oz = 46k ounces
That was the reason I bought on market yesterday.
You can see from the veins in front of the jumbo photo the subvertical veining going from the hanging wall to footwall why would you think it is only 3 metres high ? You are limiting your calculations on just the drift vertical height. In theory I Would be looking at eventually 16 levels (drifts) say each 50 metres long over a 230 metre sub vertical height connected by a spiral decline at the North end with sub vertical long hole stoping taking out a 3.5 thick metre blocks between the levels. Just my novice interpretation and not a mining engineer.
ORS Price at posting:
6.4¢ Sentiment: None Disclosure: Held