That I could understand, it is called development (targeted) drilling, but they are still doing exploration drilling. There were sufficient sweet spots known, twelve months ago to start developing the first mine. Adding 200Mt to the Ore Resource to be mined in 20 years time, adds nothing to the NPV.
The Geo's are too busy trying to meet their bonus triggers, so that they maximise their shareholdings, for when they can sell out to the engineers / financiers. The last thing they want is for the project to become production focused!
MEI Price at posting:
6.5¢ Sentiment: Buy Disclosure: Not Held
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