RIO just MASSIVELY EXPANDED WINU resource (remains open), and...

RIO just MASSIVELY EXPANDED WINU resource (remains open), and says project continues to ENJOY SUPPORT FROM RIO BOARD, as it PREPARES FOR FID. Recent STUDIES POSITIVE.

-Massively expanded resource by c40% to an ELEPHANT 608Mt at 0.4% Cu and 0.3G/t Au (indicated 249Mt).The resource is said to remain OPEN: at depth, to the north, south, east.

-Rio says ‘Project continues to enjoy support from Rio Tinto board which has approved additional expenditure to progress early works at Winu, and further prepare the project for a final investment decision’. ‘Recent technical and commercial reviews, independent of the study team were positive’.

It adds: ‘the presence of copper, gold and silver mineralisation of a similar geological style and setting at the margins indicates that the Winu deposit is not, at this time, limited by geology’.

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To me, the READACROSS for Citadel/Caliber is POSITIVE .
1) It is becoming increasing clear that Winu is an elephant and more importantly it has full support of board (this is key since remember, Rio had changes at the top!), meaning the chances of Winu becoming a mine has increased significantly. Recall, Rio can process our ore at Winu - that’s what our Chairman has been repeatedly saying => this massively enhances the economics of Caliber and therefore raises the chances of Caliber being mined too as a satellite deposit.
2) The idea of progressing our ore is even more evident when looking at Winu grades. Caliber grades are actually higher - and it is also a large tonnage resource.
3) Rio’s board’s support for Winu is key, particularly at time when interest rates are expected to rise. This suggests that they are comfortable with the project’s economics even at potentially lower gold prices.

The market keeps beating down the Antipa share price all while gold price keeps on rising and hitting new highs and while the fundamentals for the company are actually improving daily. Recall, Rio had singled more exploration for Citadel, meanwhile the other Jv parties all opted to continue exploring our lands, and Newcrest remains a key shareholder in the company. Meanwhile, results at 100% Minyari grounds have been very good, with excellent grades and intercept lengths - all signalling a massive expansion of that resource expected any time This quarter! This is a catalyst for the shares - and the market continues to overlook any of all this. This makes no sense. And it will be rectified, as fundamentals always win. Shares are now only within 10% of where CDFund bought in…
BUY Antipa