Chinguetti was discovered in 2001, and has proven and probable reserves of about 120 million barrels of oil.
Massey now has a third of Central Appalachia's proven and probable reserves.
Proven and probable reserves of natural gas rose 2.7% to 22.5 trillion cubic meters, from the 21.9 tcm last year, the company said.
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Accordingly, probable reserves is when deliverability has been demonstrated, and proved reserves is when production wells have started or been completed and deliverability has been demonstrated.
Hellas Gold holds mining licenses for an area covering 317 square kilometers (122 square miles) with proven and probable reserves of lead, zinc, silver, gold and copper.
Milligan project has proven and probable reserves of about 2.1 billion pounds copper and 6 million ounces gold, and there is a huge likelihood of finding similar reserves in the Serengeti properties.
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At the end of last year, it had the largest reserves of all gold miners with 138 million ounces of proven and probable gold reserves, 1 billion ounces of silver reserves, and 6 billion pounds of copper reserves.
The Renard project has probable mineral reserves that total 18 million carats, with 17.5 million carats inferred.
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Goldex had an estimated 1.6 million ounces of proven and probable gold reserves.
The project has probable mineral reserves of 18 million carats and a further 17.5 million carats in the inferred category.
Proven and probable mineable reserves total 2.018 million ounces at an average gold grade of 2.06 grams per ton gold.
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Furthermore, proven and probable gold reserves have doubled at this project.
Oil is a touchy issue in Mexico, whose constitution bars ownership by anyone but the state of even a molecule of its 30 billion barrels of probable hydrocarbon reserves.
Probable mineral reserves stand total 18 million carats with 17.5 million carats as inferred mineral resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside with an initial 11 year mine life.
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Meanwhile, Pan American more than replaced the proven and probable silver and gold reserves mined during the last year through its exploration campaign, said Michael Steinmann, executive vice president for corporate development and geology.
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To this day, the company has no proven, probable, or even possible reserves.
Based on reserves alone, the bid is priced at 1.5 times proven and probable ounces!
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