One of my favorite pig in lipstick press releases was from Cordoba Minerals (link), not only announcing an updated resource for Alacran, but telling us that theyz got cobalt az well, m8.
|Fuk uz Forst Cobalt
We'll ignore that and look at the resources.
Original, Jan 2017 resources
|hard to read, but resources calculated at $1300/oz Au and $2.50/lb Cu
New and improved resources:
|@ $1400/oz Au and $3.15/lb Cu
I liked the interesting metal prices used, Cordoba was a little generous with the gold price, but why don't we do some maths and see how the project has grown with another successful year of exploration.
I mean, look at that, they increased resources by ~27%. That deserves a good hug and a nice pat on the back, we'll ignore the fact that as the tonnes have increased, those nasty little copper and gold atoms have been efficient with their New Year resolutions. Those pricks have been on a diet!
and given the deposit a stunningly unimpressive negative increase in contained metals.
- Grades dropped by 22%
- contained metal stayed essentially the same
- Grades dropped by 32%
- contained gold dropped by 15% or 94,000 ounces
So, basically you've made Alacran worse. Well done!