They could be picking up nuggets all over the mine and this sucker will still continue south with all the other miners. Purely manipulated market with horrible auditing and all these 2 bit miners are in on it. Tell me why a miner with growing operations with Gold and Silver in a tight trading range for over 3 years can continue to go south. Miners are not buying shares on a regular basis with the growing reserves they have. They should be selling some of there reserves at the top of the range around $1325 and buying shares near the bottom around $1250. If any of the miners did this they would never have to worry about revenue and cash flow...BUT THEY DON'T!!! I believe one of the reasons are terrible accounting practices without auditing and the anticipation that Gold and Silver are going up substantially soon. It makes no sense to sit on Gold and Silver when the chart shows the same pattern for over 3 years.
I tried to understand the Grey Fox drill results. Here's what I came up with.
Copy all the sample drill results data from Appendix A into Excel.
Remove the "Including" lines, since they highlight only part of a sample that's already counted.
Add up the total drill width (218.2 meters)
Add up the total "Metal Factors" (841.7 (grams/ton) * Meters)
Divide 841.7 / 218.2.
This results in an average for all the samples of 3.87 g/t
My two question are:
Are these results all drill samples they analyzed or only the decent ones?
Is 3.87 g/t good for a collection of drilling samples?
Unfortunately its not that easy. This is probably all the drill results. Even so, they will only mine the parts that have high gold. They won't send a shaft after all of it. Just where it is concentrated.
Usually about 5 g/t is worth dropping a shaft into. Even so, that is a very very rough guess that is
strongly dependent on depth.
If you already have a shaft into 5 g/t and 4 g/t is right next door - you might just go get it while
you are there. So it depends a great deal on how everything is distributed.
For stuff near the surface - you just dig it all up. And g/t works fine as a metric.
Then the only real question is how much dirt on top do you have to move to get at the