Your summation is reasonable based on this one announcement. Things that could change the equation are further drilling, the 3 nearby pit shells already evaluated, and the higher viable strip ratio made possible by local factors such as flat land and lower in country costs.
It’s definitely wait and see at the moment.
Until this announcement I was not expecting a new resource statement until the end of the year. It now looks like we won’t have to wait that long. I am expecting a reasonably solid increase in tonnage but in my opinion management is displaying much more optimism for this patch of dirt than seems to be justified by the latest drill results.
XAM Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
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