News: VMM Viridis Mining And Minerals Ltd says Viridis Completes A$3.1 Million Placement, page-32

I mean the evidence is that the grades will be largely similar. Even if they were 2000ppm that's a vastly economic project. given the lithology and profile is consistent across tenement they may be largely similar to Mei.

If they are similar to MEI and given the spread and depth of holes I see the potential for a similar tonnage in time. might not be in the first resource upgrade but certain in future ones.

for example
45m x 2000 x 2000m x 1.8 (not sure what the SG is here) ~ 320mT and If say @ 2000ppm there's a justification for 1/3rd Mei MC (given more advanced)

If by chance our grade equals or exceeds MEIs then we may infact be talking between 1/2 or higher. that's 5-10 upside from todays price.

You'd only then need to look at what people are forecasting the future MC of MEI to grow to. but as a like for like comparison on grade, depth, scale and discounting for Mei being maybe 6-12 months ahead there's a potential instant justification for a multiple high MC. the grades at depth will confirm this. met work at depth will derisk it. then we're on parity.

expecting a JORC might be able to be punch out late Q3. Probably sometime in FY24 we're then significantly higher and doing a raise with 150-200M+ MC which will fund us hopefully mostly through to decision to mine. (aka post PFS/DFS)

doing great here. hope everyone is well.
still holding all mine. might take profits on the JORC release or if the MC gets to ~half MEI which is still around $3-$4

SF2TH