The reason for the tight drill holes is, like Heisenberg63 says, to take the resource from inferred to indicated. Why do that? My understanding is that an inferred resource isn't bankable and couldn't therefore be used in a feasibility study whereas An indicated resource can be used as justification to build a mine.
Imo EL8 are basically making all the right moves to turn Koppies into a mine.
Can they do it? - i.e. do they have the expertise to build a mine.
Do they want to do it? - i.e. do they want to progress to a certain point before selling
Will it work? - i.e. will Upgrade work at scale?
For me; They'll get taken out if they prove Upgrade works at scale. (probably by CNNC)
The reason for the tight drill holes is, like Heisenberg63 says,...
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Last
46.0¢ |
Change
-0.010(2.13%) |
Mkt cap ! $141.8M | |||
| Open | High | Low | Value | Volume |
| 48.0¢ | 48.0¢ | 46.0¢ | $223.7K | 478.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 243696 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.5¢ | 6499 | 1 |
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| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
46.0¢ |
Change
-0.010 ( 3.16 %) |
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| Open | High | Low | Volume | ||
| 47.5¢ | 47.5¢ | 46.0¢ | 122273 | ||
| Last updated 15.56pm 26/04/2024 ? | |||||
| EL8 (ASX) Chart |