sorry berbouy,just saw your post-still holding.and just time will tell from here.
from what i,ve read on ogc i feel their dept may be clear by next year.good Q2 results out.some news on didipio would be good for a change
regards-roy
i have told myself that(money banked)well i,ll pull if gold starts to fall or ogc not profitable.i,ve really been waiting for their Q2 at the end of this month.
i think i,ll pull at 130 as mentioned in previous posts.
The increased mineral reserves are reflective of an increase to the gold price assumptions used to
calculate reserves from US$500/oz to US$800/oz. A small contribution also came from resources at the
Panel 2 Deeps deposit (Macraes Project) that have been upgraded from the Inferred to Indicated category
following a diamond drilling program and subsequently put through an economic analysis.
The increased gold price and improved economics will result in an expansion of the Frasers North and
Frasers South Pit at the Macraes operation as well as an expansion of the Globe pit located at the Reefton
operation.
Paul Bibby, CEO commented, “The reserve increases at both the Macraes and Reefton operations is an
important milestone towards our objective of extending the mine life for our New Zealand operations. This
update is particularly pleasing because it reflects the first reserves to be calculated for the Panel 2 Deeps
deposit which was announced in April this year and is a deposit that remains open in three directions. The
brownfields exploration program embarked on in the September quarter has now been ramped up with
seven drills currently operating at our New Zealand mines.”
Table 1 below outlines the Macraes and Reefton updated reserves. This does not include allowance for
reserve depletion due to mining during FY2009 which is expected to total approximately 300,000 ounces
from Macraes and 100,000 ounces from Reefton. In accordance with Company practice, a final end of year
resource & reserve inventory calculation as at December 31, 2009 will be undertaken which will account for
reserve increases minus depletion during the year.
A big move is coming. I say this once again. A big move!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
A big move is coming. I say this once again. A big move!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
That is more than textbook Joe. That post needs to be gold plated and hung on the ASF head office wall of shame. An absolute classic!!It is a classic, textbook example of a no content worthless ramp.
Wonder where this one will go now? I had it on the watchlist at 1.55 when it started moving up...
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