Great and very important point J4K - upvote from me. The market may look at Ularring that way and yes it is so important to get into production. Getting the share price up is one way to achieve this.
My thinking is that the market loves discovery. If BRB can get some solid hits with limited drilling at Ularring we may see speculation that BRB can then do a Peter Cook Manna type deal. That funded the gold exploration (and probably more) for BRB right after Peter joined so I am taking that timing as a partial cause at minimum. Tom has said Ularring and Manna more than justify the market cap. So lets poke a few holes in it and generate some excitement into a commodities bull. In any case diversification is essential and so that could add support.
Discovery using a cheap RC rig peppering in around areas of specific interest can do the same in my opinion. But just to incorporate your point; probably not as important yet. Once GL1 is over $3 and we can raise another $8M selling another 40% of the shares it may be more affordable.
I like the idea of toll treating the high grade area of the north end of the pit early. One would not want to do that if the pit was all we had. However these UG studies show a robust ore source or three could replace that high grade OP ore to boost the head grade early. The initial pit gets us down to a portal from where UG mining could be incorporated earlier in the LOM plan. It still needs more work but that would be exciting as it would avoid dilution getting us to permanent cash flows from our own mill. Sentiment on the sector will change once gold gets going because the upside is massive now.
Cheers CW, just sharing some thoughts.
BRB Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
