Sibanye Stillwater (SBSW)

[goldenpolarbear]

Where did 4 million Gold OZs in Burstone reserves go....? Hmmm?

http://web.archive.org/web/20120909191532/http://www.greatbasingold.com/burnstone.cfm

Several years ago it was stated:

"...

Burnstone

The Burnstone Property is located in the South Rand area of the Witwatersrand Goldfields in Mpumalanga Province, approximately 50 miles (80 kilometers) southeast of Johannesburg, South Africa.

Investment Highlights:

100% owned and operated property
Initiated commercial production February 2011
Production ramp up to a potential 200,000 Au oz/year at a cash cost of US$600/oz over 26 year mine life
6.4 M Au oz Reserves (Proven & Probable), 12.6 M Au oz Resources (Measured & Indicated)
Full conversion to new order mineral rights and BEE requirements, mining right granted Nov 2008
Burnstone Mine Overview :

Location : Witwatersrand Basin, South Africa
Commodity : Gold
Ownership : 100%
Property Area : 134 sq miles / 347 sq km / 34,654 ha / 85,633 acres
Infrastructure : Close to a major paved highway; power from national grid (Eskom); two rail lines & water pipeline
Mine Neighbours : Harmony
Burnstone Project Key Information (Areas 1 & 2) :

Reserves : 6.4M Au oz @ 4g/t Au cut-off (Proven & Probable)
Production Rate : 5,000-6,000 Ore tons per day
Recovery : 95% Au
Production : 200,000 Au oz (Targeted Annual Average)
Life of Mine : 26 years
Cash Cost : US$600/ Au oz (ZAR 8 exchange rate) LoM..."

https://www.sibanyegold.co.za/investors/news/company-announcements/2016/item/download/11_c537ff1d84f53665036717514c640062
Now, Sibanye is stating there are only 1.8 million AU OZ
"....A maiden gold Mineral Reserve of 1.8Moz has been declared at the Burnstone project, following completion of the detailed feasibility study, and the subsequent commencement of the project development phase...."
WELL, what happened to the 4 million+ Gold OZ in reserves? Hmmm? Either Sibanye is being extremely conservative in their Burnstone Gold estimates or should I state ore...

Well something is not adding up IMO!