Diggers n Dealers 2023, page-23

I have no axe to grind either, I am an interested observer and previous holder, with significant industry knowledge. Some readers will know me personally.
Little doubt LC has invigorated OBM, also little doubt operationally performance is shaky at best. No doubt filling the mill whenever possible with higher grade underground is optimal and was always the desired path forward for Davyhurst, but some of the underground opportunities are variable in cost and risk, particularly on production profile, and dare I say it, dilution. 600kTPA of quality material out of Riverina UG is problematic in my opinion; and I have seen other knowledgeable opinions also question this figure as very top end. I rate the ore body, have even milled UG from it 30 years ago, it was a 15gm ore body all day long- but at that grade could only sustain very small tonnages with the mining method- it was and remains very thin. Getting a balance right with multiple headings and in an out of development and stoping will be complex, and take a while to impact bottom line, certainly much longer than the first sugar hits. IMHO. I'd probably be pushing forward on Callion UG ASAP, but any development is expensive, and I feel their resources are fully committed .