Prof was talking about Wits 1.0, where they have managed to find 50Kt of gold so far. So even though the gold is not absolutely everywhere in the 1.0 congo, its still bizarrely extensive. And its the extent of the gold which is the eye popper for 1.0, not the grade...
My interpretation (happy to be corrected) is that the africans can find it by drilling for fines which we dont seem to have so far. The 1.0 <> 2.0 connection is based on extensive conglomerates of the right age hosting similar styles of gold in a couple of places that we know of so far (due to fossickers)
As far as I can tell, the ultimate grade is a bit of a red herring right now. Its the extent of the gold and how to find it which will ultimately put a value on this 2.0 thing.
Moriarty reckons 'stuff proving up a reserve', just keep mining it until you cant dig up any more gold. Thats fine for Purdys near surface stuff over a couple of kilometers, but I cant imagine its practical once you go underground, unless you want to confine yourself to chasing surface tells downdip. That leaves a lot of prospective basin invisible.
KAI Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
