MRE Update15 Sep 2023 10:47
Shaun has mentioned although they have drilled another 80,000 meters since the last MRE, which in fact is another 30% of total drilling to date. Don’t expect to add another 30% to the 6.2 million ounces that have already been proven.
He said, because of the lengths of the drilling over the last 18 months, it doesn’t necessarily mean it will correlate to the upgraded MRE figures to be announced in the December quarter.
So, even though they have had excellent results, don’t be getting your hopes up that the next MRE is going to blow the bloody doors off.
As Bamps has suggested, once they can start the fan drilling from the top of the orebody, that’s when you will be able to see some significant upside to future MRE’s.
I think a lot of investors are thinking it’s a given that 10M Oz’s will be reported in December, but reading between the lines I think it’s going to be more like 8 million oz.
I hope it’s more, but I’m more of a patient cautious type of investor when it comes to expectations.
Long and steady as she goes, I think is the order of the day.
Not long to wait now.