A new Sprott report was put out today following the announcement.
More speculative than binwood re. the resource - nice to see their continued confidence in the team.
211207-scp-emr-bullseye.pdf
Assets:
"Most of the existing 276koz lies at Bungarra, where Figure 1 shows mineralisation defined to just 100m below surface, with two satellites. The 35,000m drilled since has defined two more satellites while soils delineated five more undrilled targets ranging in style from granodiorite to basalt and BIF hosted. All prime WA greenstone ingredients.
On that basis, one could thumb-suck ~500koz of drill-derisked ounces already. Pro-rating that to 300m could thus take this to 1.5Moz, which we think may take only 100-130,000m for a 1Moz reserve. A 3Mtpa CIL at 1.5g/t would support 130koz pa at grades well over the 0.8-1.0g/t local peers consider economic, exemplified by the A$424m that peer Capricorn’s market cap has grown since acquiring a past-mined 2.1Moz @ 0.8g/t for A$40m."
Ann: Recommended Takeover Offer of Bullseye Mining Limited, page-24
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