Here is my final analysis that should help point out the absurd valuation LMR currently has...

 

 

Cost Analysis (BC2010 vs QM 2012)

Bisset Creek – Pit Shell

Quartre Milles – Central Pit location

Area

750m * 500m

500m * 500m

Holes

51

15

Average Depth

17.42 meters

2.78 meters

Average mining width (individual horizons)

16.4 meters

29.55 meters

Average aggregate width (stacked zones)

25.1 meters

47.28 meters

Average Rating Per Zone

33

71

Average Rating Per Hole

50

114

Average Grade of Drill Programs

2.00%

2.42%

 

 

 

Probable Mine Reserves

18.8Mt @ 1.89%

N/A

In Pit Shell Measured and Indicated – No cutoff

22.1Mt @ 1.78%

N/A

 

 

 

My rough estimate based on drill programs

24.5Mt @ 2.00%

30.7Mt @ 2.42%