Menu

Australian Shares.com is the world's biggest free online database of information on Australian resource companies.

This website has up-to-date details on over 1000 separate listed and unlisted organisations, including what they mine (or explore) for, how much of any given resource they have in the ground, or in reserve, the location of their operations, corporate details, news, links and history. Find out more

Australian Shares

Australian Shares Sparty's Blog

Comments on this blog should never be taken as investment advice


Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. Sparty's posts nearly always relate to companies that he either holds, has held or intends to hold.

Main ForumMineMakers ASX MAK resource upgrade -inferred 1.6bt phosphate (P2O5)

  • MAK and its partners ASX: UCL and Namibian partner Tungeni Investments cc have announced that the results of the Definitive Feasibility Study (“DFS”) resource sampling programme in the initial target recovery area of the Sandpiper Project area have resulted in a substantial upgrade to the Indicated Resource Category as well as an overall increase of the total mineral resource tonnage estimate.

    The upgrade confirms that the Sandpiper Phosphate Project offshore Namibia is one of the world's largest and when comparing EV/Resource one of the world's cheapest.

    mak-dso-p2o5.gif

    As can be seen from the image (above) there is a very high rate of conversion from Inferred Resource to the higher confidence categories of Indicated and Measured Resource. Within the sampled area, the previous 109.5Mt Inferred Resource estimate has been replaced by estimates of 146.4Mt Indicated Resource and 4.1Mt Measured Resource. This greater than 100% conversion rate can be attributed to a 1:1 conversion of the Inferred to Indicated category Resource combined with a greater thickness of the resource due to deeper penetration into the mineralized sediments by an improved gravity coring system. It increased penetration from the previous 1.45m to 1.93m depth in the recent programme. Phosphate mineralization is generally still open at depth to the west and south of this newly tested resource area.

Want to take part in this discussion? Click one of these: Sign In Apply for Membership

Australian Shares Forum Options

 








Howdy, Stranger!

It looks like you're new here. If you want to take part in the discussions, click one of these buttons!

Sign In Apply for Membership