Absolutely - the middle of the three targets looks very juicy. Will be interesting to see how the re-processing has affected estimated resource levels too. The BYE SM71 drill resulted in reserves that were multiples of pre-drill estimates. The secondary take-away for me is that they have already identified a follow up target that looks better (on a quick glimpse basis) than the 40BCF field production two blocks over (SM76?). Hoping that we hear something regarding rig availability in the next fortnight, with anticipation of a late Feb drill.
Will be interesting to see if we hear anything regarding Cooper farm-outs prior to the quarterly, as we are getting close to the end of the indicative timeline that was displayed in the last relevant announcement.
MEL Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
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