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Barolobill

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18/04/18

12:19

Post #: 32524573
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Originally posted by Barolobill ↑

Apologies to those who are colour blind, this will be of no help at all.

The Bell Potter had a great key to help unlock the understanding of the Bombora deposit. So many dots, but what do they all mean? Well, here it is:

It's all very mind-bending, but i can see a nested 2.2km long open pit, with the open pit resource being highest in the northernmost 800m, followed by the middle 600-700m and lowest in the south. A minimum 1.5mill oz in my book, with another 1mill+ oz potential from underground. All with favourable strip ratios and excellent gold recoveries. So my patented 'half bottle of wine' valuation is a MC of $187mill (2.5mill oz x $75), or about $1.30 in the short term and about $2.50+ in the medium term, as the project is de-risked.

My guess for the maiden JORC is about 1.35 mill oz @1.9g/t. And it is a guess.

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Hmmmm...100% margin of error...Still think they can get to 2mil oz, but will take quite a bit more drilling. The grade was particularly disappointing. Market expectations were low coming into this, a good case of the market is right, although the result is below even those expectations.

BRB Price at posting: 37.5¢ Sentiment: Hold Disclosure: Held
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Connect the dots..., page-6

Top Stories

Cosmo Metals confirms broad mineralised zone at Laguna Verde within the KGP in WA

Red Sky Energy takes off on Yarrow drilling plans at Innamincka Dome

RBA's rate hold widely expected, but eggheads are cautious on future decisions

ASX Today: XJO shrugs off oil price surge for moderate Tuesday gains; RBA holds rates

Sun Silver wraps up high-resolution airborne geophysical survey at Maverick silver project in Nevada