Thanks for the detailed insight Myles : I guess after obtaining the geological data from the drilling programme they will have to refine this imformation further in order to determine the potential scale and grade of any such deposits or deposit . The modelling process does take considerable time and if you look at the initial estimates of 50 - 100M t this is possibly confined primarily to a particular area and from what I have heard these estimates are fairly conservative with a possible view towards 300M t as you suggested previously . It is difficult to estimate how much they will recieve per metric tonne and this figure will be determinant on the subsequent grade and underlying scale of any deposit located so much more work is required in this area to achieve jorc . Yes there is a Chines consortium looking at an offtake agreement once these parameters are met but it is difficult to conduct a preliminary estimate on the value of this deposit . They are located very close to infrastructure so this will be a key element . I dont know about Graham , he seems fairly genuine and conservative director working within the alloted budget and conditions . what more can he do under current circumstances , once GLM achieve jorc compliance and have a definitive resource estimate then they might be in a more advantageous position . but who knows .
GLM Price at posting:
5.0¢ Sentiment: None Disclosure: Not Held
