My concern was that the maiden resource would strictly cover the shallow / open pit portion of the Cayley Lode which may be perceived to be suboptimal in terms of tonnage of contained metal, despite being of high grade. Following the recent revelation from CC that the maiden resource will include an underground component (albeit I think this will be an inferred resource), I now believe that we will see around 200,000 tonnes of contained Cu eq. for the Cayley Lode (OP + UG based on drilling completed to date), and a probable total of north of 300,000 tonnes of contained Cu eq. when including the chalcocite blanket. Combined with the tantalising upside of a possible further 1,000 metres of Cayley Lode depth potential, this ought to make the project eminently financeable as an independent development proposition and probably of even greater interest to a strategic acquiror.
All IMO. GLTAH and long live the Queen!
SVY Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
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