Sabodala Resource Estimate Update
I have been getting a fair number of questions regarding the timing of the resource update. The word is “soon”. My thought is that it will come out before the INDABA show in South Africa which runs Feb 9th to the 12th. Companies that co-ordinate a big announcement with their attendance at a major conference can garner more attention than the rest of the pack at the show. The office is busy in preparation for INDABA and the PDAC in Toronto in March. More interesting to me, than the additional ounces added to the resource, are the additional drilling results from Kerekounda, I really think that one deposit could overshadow everything else we have to date. With many more targets to drill, any one of those could outshine Kerekounda!
Thanks caliche,
Looks like things will get popping real soon….Should be a fun ride!!
GREAT website!!!!!!
With drilling the second half of 2008 focused largely on Masato, should we expect at least a double of the Masato deposit since the initial resource calculation last year? Should a resource calulation come back at 2M ounces, what is the CURRENT value of each ounce if a major came in and made an acquisition? Realizing, of course, there is a lot more drilling to be completed and ounces to be added from the six identified deposits. Thanks for this wonderful venue to discuss all things Oromin!
My data analysis as follows.
Pre Jul 07, 2301 strike M ave 13.09 g/m
jul 07 to Mar 08, 3482 m ave 15.77
5 may 08, 941m ave 0.06
5 jun 08 to 12 jan 09, 3785 strike m ave 7.83 gm
Total 10,509 strike M for ave 11.44 g/m
Now I know this is not scientific, its a seat of pant thing….but….
over area extrapolation you get the following
5m x 5m yeilds 3,005,574g = 96,623 oz
10 x 10 yields 12,022,296g= 386,519 oz
20 x 20 yeilds 48,089,184g = 1,546,077 oz
30 x 30 yeilds 108,200,664 = 3,478,673 oz
now the drill spacings are 20 to 40M, so I will punt it will be between 2.0 and 3.5 M oz, pushed I make my estimate 3moz as there will no doubt be some further excellent results pending as well…..
Hey Muttley,
i would tend to agree with your estimate, i think anywhere between 2.3 and 2.8, not to put too fine a point on it..lol…a surprise to the upside would be very welcome!! Fingers crossed for 3 million
Given that Masato was responsible for more ounces in proportion to the number of drill holes i think a double of Masato is possible!! Please see my last post regarding valuations. Thanks for your comments!
So will it be relesased today….will there be a steady climb in the price this week and release next…..
Remember, the statement was “completed”
RESOURCE UPDATE FOR ALL DRILLING TO END OF 2008 TO BE COMPLETED IN JANUARY 2009, INCLUDING 375 DRILL HOLES COMPLETED SINCE INITIAL RESOURCE CALCULATIONS
Do we think we’ll get the Update today…. or this week.? Ole is always really late w/ the News. But they did say Jan 09…. do we feel the Update today? Just hoping it is close to 2.5
That would should get some attention
Im hoping this week, i have 2 calls into the office and will report back as soon as i hear..i think most of the team is off to africa later this week..so im still calling for a release either before INDABA or coinciding with it .. we will see..
the poll i put up says 75% of the voters think it will be 2.5 or over .. i hope we are right!!
caliche
I think we’ll be pleasantly surprised by the resource estimate. Let’s remember we’ve had another release of drill results in January that won’t be included in this one. I’m now thinking (hoping) it will be above 3 m oz and possibly as much as 3.75 m.
the last batch of results WILL be included as will any released with the update, the cutoff for inclusion in the updated resource calc was the christmas break. The drills re mobilized in january and have been drilling ahead full speed but any holes drilled after jan 1 wont be back from assay yet.
Hi, cool site, good writing 😉