Correct me if I'm wrong but the JV with Saracen (now NST) was for the Pinnacles project.
The NXM update mid Dec 20 stated 609,000t @ 4g/t for 78Koz and feasibility was delayed.
In mid Feb 2021 the feasibility showed the best option was to "box cut" and go directly to underground (i.e. no open pit).
As a result, the project was shelved to concentrate on the developing Wallbrook story.
I'm not sure if money spent digging up the gold from underground at Pinnacles will help or hinder ..?
We are a small company with finite resources.
We will have a clearer idea of where we are at once the MRE is released.
I think a MRE of 1Moz is achievable. We will probably see a combine figure which will represent an open-pittable and underground operation based on the density of drilling. Hopefully at least half the figure will be in the "indicated" category. I've been wrong before and Whittle pits and blocking does my head in. I have found consultants love to err on the side of caution. I would also think we will see some commentary on an updated figure come the end of the year.
One thing is certain, we need good news and a sp that is tracking significantly higher if we are to avoid an overly dilutionary CR to advance things.
POG may be ~USD1850 but that's almost A$2700. Processing some shallow stuff at these prices may help raise money without going cap in hand to the market.
Anyway, time will tell as always.
Perdy
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