Re: Consistancy..... Cliffs jv estimate... note the highlight! 15% cutoff
posted on
Dec 22, 2010 02:04PM
Not only that but do the math on the figures given in the 2 news releases...
The strike length was increased 115 M considering this alone and leaving the width and depth as previousely reported and assuming the width and depth continue then this amounts to about 10.7 MM tones.
This last drill program also proved additional depth... if this additional depth is consistant then the tonage would increase to almost 19 MM tones.
Not only that the original 43 101 had a cutoff of 30% which is double the cutoff of the FWR/ spq/ kwg resource est @ 15%.
Something just doesn't add up here!
The new holes incresed the M/I but did not bring in any additional resource in the inferred catagory...... how the heck did that happen when the length and depth were increased? Looks like the new holes did very little increasing of the overall resource especially when the cutoff was reduced from 30% to 20%
Looks like the number was predeterminded to indicate $125 MM in value from the onset... Maybe the chromite is flexable and shape shifted since the first round of drilling... LOL
Seams it got longer and thicker therfore it must have slimed down in the past 4 months..... our chromite's on a diet!