reely - I am not speculating. The mine life will at least double with the updated NI43-101 and with the continuing step out drilling it will go up further (that last part is speculation, but based on a rational assessment). All one has to do is carefully read the press releases for the past year. In this case, only one is needed. GWMG's Sept 18, 2012 press release.
Click on the link to the high resolution map and look at the shaded indicated and inferred mineralization area that is reported on the NI 43-101. Then look at all of the drill holes that have encountered monazite outside of that. Note as well that the shaded grey area is stoped (previously mined and filled in). Interocular inspection shows that the resource area will at least double once these new drill holes are included in the updated NI 43-101. That should take us to at least a 12 year mine life. Read the press release carefully. Just from he Office Block extension: "Step-out drilling continues along strike and down-dip in this area with mineralization open to the East, South, and West."
Another important bit of information to consider is that GWMG has had to move the proposed location of the chloride facility TWICE as sterilization drilling found monazite under the proposed location. This means that they have hit monazite in two further locations near the mine that are not on this map since they would not have proposed placing the chloride facility over where they were actively drilling to extend the resource.
In a longer-term note, the approval to explore in the expanded area ouside of the current mine is important. You have to dig years back to interviews to find out that there are known monazite outcroppings in the area. Wwwater was the one who brought that to the board's attention.
As an aside, GWMG is extremely careful in how they release and discuss information. They really follow the rules. I am in Australia this year and have begun to appreciate more the relative freedom that the JORC model allows. Companies here can discuss what they have found (inferred and indicated) as well as discuss what they expect to find with continued exploration and why that is. Canadian companies cannot do that so you have to do the digging yourself and piece it together.
nebbya: I've admired your posts over many months however I note the following:
[ The updated NI43-101 will likely double the resource. Over time this may go up substantially. Our 6-year mine will go to 10-20 years]: At this point this is pure speculation, nothing more, nothing less. Unless of course you have information the rest of us are not privvy to, which I doubt because you are too smart to advertise this on a public board.