You realise they were always going to ‘prove up further resources’ its just that it was deemed unimportant what with the slow Phased ramp up, and a 23 yr LOM? You’re trying to make it sound like they are back to day 1 searching for a resource.
A 23 yr mine life was enough and they were able to secure previous funding based on it. Unfortunately Covid has had a larger impact than any of us could have thought.
So running concurrently with everything else they have a chance to increase the resource size for a minimal outlay. Increasing the resource size will be used to increase the life of mine which in turn makes it more attractive to US investors.
ABR Price at posting:
$1.36 Sentiment: Buy Disclosure: Held