Wondering if someone with a better understanding of mining than myself can assist. Apologies upfront for my ignorance.
EXS said back in Jan that the resource at the Vertigo deposit was as follows: - 1.22Mt Indicated Resource grading 1.18g/t containing 46.2k oz gold - 1.229Mt Inferred Resource grading 0.91g/t containing 35.9k oz gold Therefore, total resource of 82.1k oz gold
In the last quarterly, they then said Vertigo had: "A mining inventory containing 12.5k oz gold from 470,000t at 0.83g/t"
How do you reconcile "total resource" with "mining inventory"? Does this mean there is less gold that can be extracted economically than was originally hoped, i.e. is the 82.1k oz resource figure now irrelevant and the max we can get from Vertigo is actually 12.5k oz?
The next question is whether the increased gold price may change the "mining inventory" figure.
EXS Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held