Ann: 10m at 54.2 g/t Au including 2m at 247 g/t Au at M1 South, page-14

I'm no fan of Macquarie.

Looks like a bit of old fashion buy the rumour sell the fact.

What I like about these results is that it looks like its going to be a very long lived shoot. Potential when it comes to mining is that it will continue for another 500m or as deep as the economics and geotechnicals will allow it to be mined. That's what these results are saying to me. They just need to decide how deep is deep enough when it comes to the feasibility. I can't see much advantage in drilling it out very much deeper than the planned level as I doubt it will have much impact on the capital costs. Given the extreme vertical geometry of the shoot and its limited strike extent the annual tonnages coming from M1 should be pretty constant.

A few deeper holes as teasers for any predators out there are enough IMO.

This will rerate IMO when they lock in some finance for construction, until then they will need a new discovery to move the needle or some results that are even more eye popping. Just a matter of waiting it out. Esh