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12/4/14

The Aurcana (AUN.v) 43-101 resource for La Negra: Caedite eos, novit enim Dominus qui sunt eius

The more you look at this NR out yesterday from Aurcana (AUN.v), the more you realize how worthless the whole 43-101 system truly is. Consider this chart that shows the 43-101 compliant report results for the company's La Negra mine in 2012 and then in 2014:

  • In 2012, Behre Dolbear told us there were over 115m ounces of silver in Measured and Indicated resources at La Negra, held in the tonnage of rock and the grade you see there in the table.
  • Yesterday, 2014, AMC told us there were 11.558m ounces (and no, I haven't put the decimal in the wrong place there) of silver in Measured and Indicated resources at La Negra, again held in the tonnage and grade you see in the table.

Just let those two statements sink in a little. And before you ask, in the period between those reports less than 3m ounces of silver was mined from the resource in question. And once it's sunk in you're left with the question of whose ass to sue:

Do you sue Aurcana's ass? 
Do you sue Baltazar Solano-Rico and Betty Gibbs, the people who compiled the Behre Dolbear 43-101?
Do you sue Behre Dolbear? 
And while you're at it maybe you sue AMC for underestimation, just in case
Or perhaps we should cut out all the middlemen and sue CIMM for trying to make believe its 43-101 system is something we can rely upon.

I say kill 'em all Amalric. Kill 'em all.