First resource upgrade for this year due in about one month.
If it only doubles zircon, I will be a little dissapointed, however I am sure the SP will strongly reflect it.
Take a close look at the quarterly report, if drilling up to 30 june produces the same results as Andranangoo, for each m drilled, it would add at least 2 times the current reserves.
Drilling has continued since June 30 to recently, almost doubling the drilling up to June 30. Lots more potential there.
Drilling to continue on other sites later this year, more potential upgrades...
An optimistic estimate of reserve upgrades up till end of the year would be 6 times current reserves. Doubling the current reserves is a very pessimistic estimate.
Remember, drilling has been targeted this year by the reconnaisance, so we expect results to be at least as good as last year per m drilled.
MAL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
