I sent JZ an email this afternoon
Me: Nice announcement today Jerko. I was expecting the increase in the JORC overall due to the extra land holding but I didn’t expect the whole lot to be moved from the inferred to indicated category so that was a nice surprise. Looks like the drills have been very busy. Is there any plan to drill the new tenements soon as I noticed that the drill holes further away from the salar sides had much higher lithium ppm levels or is there no need to do that?
JZ's response this evening: The latest round of drilling served its aim, to increase resource size and category. We feel pretty comfortable atm with that, knowing we can buy more land or drill deeper to increase the resource size, if required for future needs.. So no plans for any drilling soon, it’s not required.
I especially like the words "if required". IMO this says they are very confident in the PEA results and that it is sufficient already to sustain a commercial operation but again there is still the potential to increase the resource by buying more land or drilling deeper if they want to.
Very positive announcement today IMO as the upgrade of the WHOLE resource to indicated was a big step forward and I look forward to reading the PEA very soon.
AGY Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)