I'm not clear on the meaning of the statement. But if we had 0 drilling so far in 2024, then it may be right - a late-2024/early-2025 MRE? It maybe cheaper to do the MRE once rather than twice.
Eg. if MRE was already delayed due to the IPO, and 2024 will only have a few months of drilling, then maybe just delay a bit more and combine them into 1 MRE.
Otherwise it would mean calculating North Uphill, then re-calculating it again after a few months (otherwise any new data gets delayed a year for a second MRE). And maybe the North Uphill upgrade with shallow drilling is exactly what is needed for PFS (more shallow M&I for the starter pit, to make a high grade starter pit higher confidence and realistic), so might as well wait for that data.
Ann: Estelle Gold Project Drilling to Commence & Company Update, page-6
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