At least the title hasn't oversold results... "Confirm Regional Prospectivity" is about the best you can say.
"received a selection of expedited assay results"... so these 10 holes were the best bet expedited for speedy turnaround
Here's the results tabled with REO product prices, IXR type REO recoveries, mixed REO-carb payability, IXR opex/t ore feed and an extra 2:1 strip penalty to put grades into rough economic context. US$12.50/t Makuutu opex is from IXR scoping study, traditionally an optimistic document aiming for +/- 50% accuracy using some loose assumptions. Of course, AR3 haven't reported any decent recoveries without very low pH and high acid consumption so jury is still out if these clays are even in the game.
I'm looking for both sensible, potentially leaching results and thicker clay intersections before taking the project seriously. 1-2m even if at surface doesn't make sense to me (zero strip) still has the problem of very high 'footprint' overheads per tonne of ore (land acquisition, compensation, rehab, permitting etc). Still scratching my head over the share price...
(20min delay)