I'm a new bloke in this forum, 28yrs old and I came from overseas but now I live and work in Sydney. I have been in the stock market for almost a year now. I have failed many times previously. However since I found this great forum, now I'm really willing to learn many things, especially in relation to mining stocks from so many great investors in this forum.
I have a heap of questions to ask but I think I should start with how to read and to understand the following sample of announcement that I picked randomly from one of the mining stocks, "AUZ".
"Australian Mines announced that recent resource definition underground drilling at the company's 100% owned Blair nickel mine near Kalgoorlie, has resulted in significant nickel intersections on E03C and C01C shoots.
Two diamond holes drilled below the current workings have returned the
following high grade down hole intercepts:
• AMUG 223 :4m @ 10.60 % Ni from 375m RL
• AMUG 252:5.9m @ 4.30% Ni from 350m RL"
I do not understand with the line that says: AMUG 223 :4m @ 10.60 % Ni from 375m RL.
What do 4m, 10.60% and 375m RL really tell us?
How much lb is this 10.60%?
AMUG 223 and AMUG 252 are two different holes?
Considering 1lb is US$22.50 today, is this company going to make a large amount of revenue from this project in the near future?
Your answer to these questions is greatly appreciated.