Lindi has an expected 24 year mining life based on its current mine plan of 40ktpa @17.9 TGC feed and has already detail it has 4.5mil tonnes at a 10.8% TGC.
Now they are are using more funds to drill to confirm a large resource?
This makes no sense what so ever, There is no need to define a larger resource when the company is currently meant to be building the Lindi Jumbo Project, why dilute shareholders more by paying for expansion of the resource when they have a 24 year mine life and a payback period of under 2 years.
IMO this sounds like additional verification of the ore body to satisfy the Tanzania Bank.
Ann: Lindi Jumbo assesses in Country Growth Potential, page-3
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