The Wolverine orebody is 15% bigger. Hooray!
It is much better understood and activity can proceed with more confidence.
However, and this is the kicker, with the orebody now defined, we can see with certainty there is no more. This is the downside of resource definition drilling.
Sure, the ore continues at depth, where access tunnelling costs more, temperatures become extreme and the trucking costs to lift ore blow out.
Anyone expecting this to lift the value of the asset by much will be disappointed.
This morning's trading - a giant $2,750.00 worth - reflects this reality.
Ash
The Wolverine orebody is 15% bigger. Hooray!It is much better...
Add to My Watchlist
What is My Watchlist?
