Typical. Nothing for ages and then this comes along *and* I've just had the PFS for one of my other stocks ping up as an RNS today! Argh.
- additional drilling has trebled the resource in inferred/indicated categories - pit shell design will allow a potential increase over that by drilling, so if they discover more the pit would be closer to 5-fold bigger than the previous value. - all this doesn't include the alluvial deposit at Buenavista, which we know is big but different. That would be a different plant anyway due to the distance. - Previous NPV was around $2bn so we're now talking closer to $6-10bn for the La Ventana/JV1 cluster
On a more subtle note, it's nice to see La Ventana and JV1 both being included in these calculations - the first real confirmation to me that BCN won't just develop La Ventana first and leave the JVs for a second wave. Having DL on the Board of BCN will no doubt have helped make that argument. It looks like that cluster will be a single aggregated resource of considerable scale. Capacity wise 7Mt LCE could support a plant producing 350,000 tap LCE for 20 years, which is a 10-fold increase on the original La Ventana PEA!
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