For an incredibly small team, they've accomplished a great deal and are poised to deliver a near-term high-grade robust project that can produce strong cashflows in a strong copper market with exciting exploration upside.
Great to have John Levings on board leading the excitement engine on exploration of the mega-scale J-fold and surrounding areas.
But the priority now is to complete the FS which requires about 6-8 weeks with both rigs completing infill drilling and geotech drilling so we can move to complete the reserve model, financial model and financing. Offtake discussions should line up with that timing. No shortage of interested parties apparently. Price should start to move once offtake is finalised and financing is in place.
Once the infill drilling and geotech are completed, John will be "let loose" with the two rigs which should add further price action.
DHEM scheduled for August which will provide strong momentum for drilling in Q4.
Three holes including a deep hole (1000m) are scheduled for Bellbird South before the DHEM team arrives.
Most drilling has been shallow. It seems the deeper you go the higher the grades...Rockface stopped at 800m with DHEM confirming strong conductivity continuing below.
Infill IP scheduled for Reward North and J-fold in August which will help define Q4 exploration drill targets.
With average grades of 2.0-2.5% (Rockface 3.0%), Jervois will have a significantly smaller carbon footprint and lower power, labour and water use than most projects at 0.5% grade.
Labour shortages across the board and some cost inflation noted.
Would be nice to see some political leadership on this front at both state & federal levels if they hope to maintain above average GDP growth of 5%+ without expanding the workforce.
Finally, John's comments, noted above by dhc.mvltd, relating to the prospectivity of Reward North at depth adds to the excitement that we could see a material move higher in price over the next six months.
IMHO. DYOR.
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