Your thinking is correct. The average grade of the entire ore body will be less than the reported resource. That said, is also means that there is more gold in the ground (than the reported resource) but at a grade below the cutoff (of 2 g/t). We’ve already demonstrated that we can be marginally profitable with grades of less than 2 g/t. How many tonnes of ore do we have of grades of 1.5 - 1.9 g/t?? Could be a lot, could be a little, but I’m going to guess it could be a lot
WWI – the multi bagger small cap gold producer?, page-159
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