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The proven economically recoverable reserves of the mine is 69 Mt of KCl at a grade of 28.9% There is another 122 Mt of probablereserves grading 27.5%. The mine is expected to have a life of 23 years at this rate based on drilling only a VERY small portion of this potentially massive potash basin.
Oil and Gas Reserves: The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose not only proved reserves (i.e., quantities of oil and gas that are estimated to be recoverable with a high degree of confidence), but also probablereserves (i.e.,
The combined company will be led by Whitecap’s existing management team under the Whitecap name with four Veren directors to join the Whitecap Board of Directors, including the current President & CEO of Veren, Craig Bryksa. Under the terms of the Agreement, Veren shareholders will receive 1.05
So these two management teams bought their mines for SUPER CHEAP. The lack of capital has had a direct impact on reserves.Proven and probablereserves at major gold miners have been in decline for years. the first case, Heliostar Mining (HSTR TSXv) purchased two mines for under $300 per producing ounce.
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