1. Most Discussed
  2. Gainers & Losers
  1. Members, Techs apologise for the loss of thread titles, and are currently working on restoring them. They will be back asap. Thank you
BGS 32.0¢


  1. sydneysider

    3,362 Posts.
    SIR has gone ballistic on finding gold at Polar Bear in Western Australia which equates to 411.9M shares increasing for $0.85 for an increase of $350.2M.

    They have identified a near surface ore body that extends over a strike length of 500m, width of 50m and open below depth of 60m.

    BGS has identified 3 gold targets that include (1) Ntiola over a strike length of 400m, width of 40m and open below 150m (2) Viper over a strike length 1,200m, width of 40m, and open depth of 50m, awaiting assays on completed DD hole to 150m (3) Koting over a strike length of 200m (open), width of 200m, depth of 50m (open) within a surface anomaly that extends for over 1,000m.

    Polar Bear currently represents a rock volume target (carrying gold mineralisation) of at least 3.75 million tonnes and is open along strike and depth.

    Rock volume targets carrying gold mineralisation at Massigui include Ntiola with +6.0Mt, Viper 6.0Mt (may triple rock volume on release on DD assay) and Koting 5.0Mt (only about 20% of strike and depth drilled) for a total of 17Mt drilled. Upside here is a potential triple or quadruple on rock volumes to 51 - 68Mt.

    Conceptual gold guesstimate target at Ntiola Trend on 52 - 68Mt at 1 g/t au - 2 g/t au is 1.7M - 3.4M gold ounces at 52Mt AND 2.2M - 4.4M gold ounces at 68Mt.

    So BGS reports the discovery of 17Mt of gold mineralised rock volume at 3 prospects (out of about 20-30 targets) with massive upside conceptual potential of up to 4.4M gold ounces on only 3 targets. Reported grades and widths are reasonably similar between SIR and BGS.

    SIR increases in value by $320 million, BGS by about $5 million.

    SIR needs to bring in expensive diamond drills to cut through the hard ground because the rotary core drills cannot handle the hard ground. BGS uses auger and Air Core drills to cut through the very soft ground.

    About 80% of the gold discovered by BGS can be recovered using non chemical, gravity separators from the soft rock whereas SIR will need to do build and deploy some heavy duty rock crushers and expensive CIP plant?? to process gold.

    BGS discovery is adjacent to a 4.5Mtpa process plant in a jurisdiction where ASIC costs are around US$750 per ounce of gold produced.

    I report you decide? where is the speculative value???

    Warning, these are very speculative guesstimates and are meant only to define size of conceptual and speculative target sizes using currently generated drill data. Ongoing drilling may change conceptual target size and grade. Good luck to all longs

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.