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Re: Tamaman post# 3896

Wednesday, 02/27/2013 9:12:51 AM

Wednesday, February 27, 2013 9:12:51 AM

Post# of 14330
If you go back to post 3194 Tamaman you will see me original post on Pascua Lama - "Barrick has spent decades bringing that up to the point where it is still not in production, and the resource is 17 mm oz thereabouts (granted that is all proved and probable category with huge silver byproduct credits). But, my point remains, decades and billions for a very remote and technically demanding project."

I did make the distinction on PL that the resource is mostly in the reserve category of proven and probable - which in large part means that the ore body there has been extensively infill drilled, and it has not been at Burnstone. They are not comparable on a P&P basis - but they are on a total resource basis - ignoring the silver component which I also noted - and it's the relative extreme rarity of a 20 mm ounce ore body that leads me to believe Burnstone could attract serious bidding - there just aren't that many sites that of that size - to wit Barrick had to go to a very remote location for PL. And Burnstone, unlike Hollister, has a 5000 TPD mill already in place.

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