Hey punters, don’t mean to reign negative vibes on all the positive party mood but the results to date are just in-fill drilling. Granted a significant amount of the higher grade material has moved from inferred to indicated ( still way short of reserves) but half of the total resource is still sitting in the inferred category and 470,000 ounces of the total inferred ounces is tied up at the lowest grade material of 1.5 g/t at Selene.
There’s no new discovery here and I would imagine the last owner did sell it with the view that the orebody boundary size was known.
I would imagine if further drill results are about to be released, they will again be in-fill.
You dont see a stock go beserk very often off the back of in-fill drilling. Its got me scratching my scone.
What did they pay for this? I would imagine that given the low grade, tough economics of mining and processing such low grade material, will test the skills of management.
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