RE: Drilling29 Sep 2020 10:32
Not really right Scotty WK has been expanded a lot and is in production they have focussed on that operationally and the placing went largely towards that. They have inherited lots of old drilling data with newly granted licences so its the equivalent of a massive drilling campaign, and they did masses back in the day with Anglo Platinum too. And then it seems like Absolute Precision have been doing some work for us, using their whole skillset they tweeted. So there's probably more chance of a resource upgrade then were we drilling just now. When selling a mine it is advisable to leave some on the table and not let resource figures become stale.
I do share some idea that if nothing happens with a deal this could have been a year wasted for MT but what would COVID have done for it anyway and if NN buy they will shave that year off quickly by already having infrastructure nearby. Likewise if some joint deal is done to use the spare capacity in their plant. Even if we triggered the EPCF deal with Sinosteel the project could still be sold but they have left it clear for the buyer. Perhaps because in reality with all the data our original licensed areas may not in fact be the optimal place to start (with Palladium, Rhodium, Gold and Nickel now being more prized than platinum which pre 2016 was more favoured). Or just that the large buyer will have the capex easily covered anyway its not Sirius its only 200 million dollars.
I expected a small drop this morning with the large spread last night. I see it as about 3 to 4 percent up over the last 2 days just now.