@ChinaSyndromeThey probably have enough resources for 10 years...

@ChinaSyndrome

They probably have enough resources for 10 years at 10Mtpa at 3500ppm. Fine but that is not the point.

Exploration of parts of the concession outside the resource areas may be obligatory if they are to be retained and may turn up better resources which could be slotted into the 10 year plan or the 20Mtpa plant. If they're snot they could be relinquished and save money.


As an aside, the headline VMM results look great but if you look at the plan showing drill results across their leases there is nothing in there which is better than those of MEI. What else would you expect when each company is drilling leases dotted around in the same geology and in some cases contiguous with one another. One sees the same trends in data too, for instance disproportionately higher MREOs with increasing TREOs.

Furthermore the landholding of MEI is significantly greater when one takes into account leases yet to be granted. The VMM releases show only MEI's granted leases which misrepresents the potential of each.