I suspect a reason why the SP didn't react a lot to the MRE increase is that it was factored in already.
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MRE originally expected months ago but they added 10+ Kms of infill drilling which combined with snail pace lab turnaround at the moment has delayed this announcement. May be other factors as well.
On a 'busier' forum there would be posts calling for management to be held account for an "unforgivable" show of incompetence. Lol
. Good to see the SS. Today's presentation mentions PFS AND DFS in 2022! Ambitious? Perhaps, but they wouldn't make the statement without some justification. The 2019 scoping study and the recent one were apparently pushing towards PFS level in some areas - from memory of comments at meetings.
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Corporate activity or some form of funding arrangement will be IMO the major triggers for any share price appreciation.
At the recent Newgen Gold conference I chatted with someone from Newmont who had access to the data room. Cone of silence type stuff - confidentiality agreements etc - so no real details other than he liked what he saw. Just not enough gold for Newmont.
Also met Michael Outhwaite at the conference. He did his masters on the Calingiri copper deposits and was rather surprised to meet someone who had taken a look at his thesis.
He does some ongoing consulting work for CVV apparently. Likes the potential. His conclusion that the deposits were related to porphyry coppers fitted the data with quite a large but over whether that is the actual mode of occurrence.
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A stopped clock is right twice a day so maybe more luck than careful calculation led to
this estimate a month ago.
Expectations?
Bindi to 300+Mt at a smidgin under 0.4% Cu. Indicated/inferred 80% with perhaps some measured/highly probable included in that. The 0.15% cut-off grade may reflect another 100Mt or so from Bindi getting contained copper up towards 2Mt
Not too much for Dasher or Opie.Comparing with the actuals today the above estimates are OK and show that it wouldn't be too surprising better resourced investors were closer to the mark and factored in the nice increase announced.
The big question now is: Will this announcement attract an offtake partner or JV or something else?
The MRE moves CVV beyond Hillside (RXM) in terms of contained Cu. Neither project seems to be getting too much attention on the ASX. Some feel the large, low grade, bulk tonnage Cu +- credit deposits are not well received by Ozzie investors, CVV did well for awhile but has stalled in recent months. Hopefully some spark comes along to reignite the SP in the near future.
(20min delay)