Exploration success isn't the only game in town here. There reserves (460kozs @ 2.4g/t) are low compared to their resources (2m ozs @ 27.g/t) maybe they need to do more in the way of converting resources to reserves (infill/grade control drilling) which is a lot lower risk than "exploration". Sand King (@ 3.4g/t) is also now being pre-stripped and should help the head grade. Also the drill results from the Victoria working 38km north of Davyhurst (announced 25/10/21) look very promising:
It's not just a stab in the dark = Hawkes Point must have been convinced it was an "odds on" bet
Share Price Torpedoed, page-7
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66.5¢ |
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