Hi Bill
you are correct, there is no point just drilling and drilling endlessly. However, for now I would expect Stellar will need to continue drilling. If you look at the latest resource update, the total resource has increased substantially - mainly thanks to Severn. However, Severn is all classified as Inferred at this point, and you can't convert an Inferred Resource into a Reserve. At this time, there is no Reserve. The only Indicated Resource (could convert to a Probable Reserve under the right conditions) is Queen Hill, which hasn't grown in the update (in fact it looks to have shrunk slightly - not in total, but in terms of the Indicated portion). So, I would expect more infill drilling will be required for Severn to convert to Indicated or better, and a combined Probable Reserve for Queen Hill + Severn could then be derived. However, that is down the track a little way.
They clearly have enough information now to work on the pre-feasibility and mining study, since those are underway. A positive outcome from the PFS would normally lead to a full feasibility, probably in parallel with infill drilling, and then funding and construction. So production is a way off, and more drilling is required before they can get there. All in my opinion of course.
- Forums
- ASX - By Stock
- Ann: 49% Increase in Heemskirk Tin Resources
Hi Billyou are correct, there is no point just drilling and...
-
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SRZ (ASX) to my watchlist
|
|||||
Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $42.71M |
Open | High | Low | Value | Volume |
2.2¢ | 2.2¢ | 2.2¢ | $50.28K | 2.285M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 893 | 2.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.3¢ | 2599999 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 893 | 0.022 |
3 | 1500000 | 0.021 |
6 | 2847411 | 0.020 |
5 | 1344999 | 0.019 |
4 | 1432501 | 0.018 |
Price($) | Vol. | No. |
---|---|---|
0.023 | 2599999 | 3 |
0.024 | 2665215 | 8 |
0.025 | 4515133 | 5 |
0.026 | 1632590 | 3 |
0.031 | 393880 | 1 |
Last trade - 13.16pm 11/07/2024 (20 minute delay) ? |
Featured News
SRZ (ASX) Chart |