RE: Near term Resource Upgrade14 Oct 2021 11:33
Iain, the Research note gave an upgrade to 700,000 oz where they described 400,000 being in the bank (indicated) and the remaining 300,000 being inferred
Doesn’t necessarily mean that’s going to be correct but they obviously know their stuff. It’s very clear it’s going to be a lot bigger than 265,000 and eventually it looks like a Moz deposit. A chunk of this drilling has targeted deeper areas like I posted in my original post which I think will need further drilling to prove up. But all in all I think 700,000-800,000 would be sensational. 150% increase would broad scope to open it up beyond that. Would I be surprised to see 1moz on the upgrade? Not really the campaign has delivered at every turn. I’ve just seen of posters on Twitter expecting Havieron style numbers and 2-3Moz.
The resource upgrade will compliment the feasibility study. Which Bert has already described, they want to fast track production targeting the high grade shallow zones to generate fast cash flow for the company, no further dilution beyond the term sheet. Then they have expand from here