Actually my comment relates to Danoz's comment above, if you'd taken the care to see that the comments are linked. FWIW the classification of Tansey being worthless could also be made as it relates to the annual report - there was no value attributed to it in the accounts in the 25FY statements. Also, LKO shares were previously valued at zero in the 24FY statements until 25FY statements, when they re listed LKO and value came back.
As for research, yes I've done a lot and discussed it at length with CEO and I see plenty of value in it.
I've assessed the Historical data from both the South Burnett mine operations in the 1930's, 1970's dewatering operations, raw exploration data from the Qld government in the 1970's and the analytical methods and commercial processes used to derive the historical grades.
Historically, South Burnett didn't go deeper than ~80m due to inability to dewater effectively.
Historical cores maxed out at ~140m, with ~120m directly below the Burnett mine.
Lithology - much of the resource came from a combination of heavy metasediments and mixed granite, but most in the metasediments.
Very important to note that the 1930s South Burnett operations and the analytical methods for quantifying resource estimates in 1930's and 1970's used mercury separation, which is notorious for giving ~30% recovery.
Modern analytical techniques and processing techniques use cyanide leaching/washing, which provides ~90% recovery grades in metasediments.
- There's a sneaky chance the grades come in much higher than expected due to these upgraded techniques.
Also note that the surface contours and vegetation lead the selection of the current drill sites as being prime targets - they denote change in water availability and subsurface river systems that accumulate gold into the metasediments.
My bet (which is a big one on this company) is that tansey will surprise on the upside.
DYOR
Add to My Watchlist
What is My Watchlist?
