well the reserves to date are lacking and the $9m exploration spend will cover reserve depletion and potentially only incremental growth.
you and I both know from SPR experience they type of spend required, and the type of orebody required to get up the curve.
I know the NST story well, rode it from 2013 to 2019 merger with SAR. It was an incubator of talent during a downturn, of which LC played a key role. But they also brought Tier 1 assets dirt cheap off the majors and drilled them hard. Had the choice of drillers, miners, labs, suppliers. It's the opposite situation today.
OBM has none of those ingredients, other than a great leader in LC. The next NST is probably BGL or SPR. Both are incubating talent from NST, and are sitting on Tier 2 possibly Tier 1 assets.
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well the reserves to date are lacking and the $9m exploration...
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