Ok thanks for clarifying. I still don't see how it could be negative? Let's say your right and that the current Ore Reserve of 1.3 million tonnes at a grading 11.2% zinc was cut 20% say or 260,000t, you still have an additional Inferred resource of 2.0 million tonnes grading 14.0% zinc that is being targeted for an upgrade from inferred to reserve status. If just 50% of the inferred was upgraded that would equate to:
1. downgrade - 260,000t 2. upgrade - 1,000,000t
Balance 740,0000t added to reserve status...
I don't see how that could be negative given the grades are well above 14% on average. In the EMZR I count over 70 metres alone at an average of 24.55% zinc.
Yes I agree that LL is a 10/10 when it happens but for now it only has a 3/10 impact. This will increase 1 point every week for the next 7 weeks until we approach the end of March.
KZL Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
