I stipulated in the past that the are around hole 1 and 2 is homogenous (as probably is hole 7) so the latest hole simply confirmed that view. In effect they are probably thinking there is a sufficient resource there to sustain a mining operation of 5 mtpa for 20 years, 10 million tonnes per annum (ore feed) for 20 years. I spoke about this under point 3 of the post I did last night - seePost #:
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Obviously proceeding to mining, if this is what this CR is about, requires bankable studies, offtake agreements (presume that if it is a JV will be equity lifting based so whoever is the JV is essentially providing to AVZ its future share of mining development costs IMO to gain access to a equity liftung stake assuming the JV partner is an vertically integrated entity operating in the lithium carbonate and/or EV space etc. Bankabl studies will determine mine feasibility, and I think as long as scale is here this mine will be feasible IMO as I stated last night (point 3 of the above embedded post).
The other aspect of the CR could be about further funding of drilling around holes 3 - 6 (see point 1 of the embedded post above as not clear whether we had the funding to go to beyond the 20000 metre program envisaged etc) (i.e. last night I said current program will get them to a measured and indicated resource in holes 1 and 2 and possibly 7 but the rest of the deposit will remain inferred).
It could also do with some infrastructure developments around the mine (i.e. the transport corridors - given what we found out in terms of delays in getting rigs onsite through poor roads from Manano to site that could be a target now to improve infrastructure from and to site). Pure speculation but a CR based on a JV partner bodes very well here.
All IMO
