To be specific...
Exploration fieldwork (outside of SBM mining leases) has been suspended. SBM are still active in analysis of earlier fieldwork, and still active in the field within their own mining leases. The lifecycle from exploration, through development, to production is long. Dialling back fieldwork for a few months is not going to cause major issues in the larger scheme of things.
Regarding the PNG lease - SBM's lease for Simberi was extended last year (see Sep-2019 quarter announcement). It now runs to December 2028. Who knows what the attitude to leasing will be by then - or indeed what our life-of-mine will be.
$3.90 valuation by GS updated, page-428
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