Pages 11 to 16. Reserves are economically proven ;resources are estimates
Australasian Code for Reporting of Exploration ... - JORC Codewww.jorc.org › docs › jorc_code2012
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Pages 11 to 16. Reserves are economically proven ;resources are estimates
Australasian Code for Reporting of Exploration ... - JORC Codewww.jorc.org › docs › jorc_code2012
Yes worth look at the history of WWI ... the project use to be owned by DRD Gold and when they were producing Gold back in the early 2000,s I think it was they had 12Moz resource with further exploration upside but was on old JORC code so needed to be infilled drilled to a much higher standard to reach latest codes requirements... but as WWI had been a nano cap funds were tight and hard to raise funds without the mining right to mine the area investors didn’t like the risks.., seems like only yesterday the Mktcap was under 10mill with only thousands in the bank account ... how the EA approvals have changed that now having millions in cash and a cap 70mill .. we LT holders all knew about Resource upgrade and just look at the market response... MR will be the key to see WWI well over 200mill cap
I'm in a few Gold Explorers -Gor being my best (now a producer), MEI (Speccy)
Seems to be hundreds of Gold explorers on the ASX, so can be hard to compare/rank as to whether to invest. I think management (experience, skin in the game) is really important, no debt if possible, "promising results/drills" and to a lesser extent nearology to other finds (although not something I put toomuch weight on). Interested in what other ST's look for when investing in an explorer.
What does 12Moz translate to now @ 2020 JORC code?
Also check NVA's grades released today.
https://cdn-api.markitdigital.com/ap...df02a206a39ff4
Some juicy grades, and the lengths of some of those strikes is juicy as well - Remind you of DEG with their HEMI reports at start of this year?
I understand they have to infill drill to a higher degree via DC drilling to bring up more of the old 97 JORC resource ... aka they can't just get it added etc ...we are talking down to 3km in depth below water table etc so don't think its WWI goal to spend the 10's millions in drilling costs to add more resources at this stage ... but to get MR then BFS funded and complete with a plan to toll treat at Sibanye's Ezulwini plant - 45km away..
IMHO WWI will be taken over by Sibanye or will give up control of the project for a cash payout mid next year etc