I doubt the plan will include anything on restart of the plant given they are still very much assessing how deep the NN, 4P and WW deposits are and if they potentially join up. Rather I am hoping they will set out plans for the timing of a FS - will it still be mid 2024 or will they defer it and the FID date as well. I am expecting they will defer the FID until they have results from the directional drilling.
We may see an updated exploration target given the inclusion of “growth” in the plan and if so the target will be very interesting as I anticipate it maybe conservative like the first ET. I assume any ET will include 4P, WW and Gilbeys.
I am also interested in when they may decide to do the exploration decline and where, and also details on the directional drilling campaign (if they latter is very successful, it may be a game changer for SPR).
I also noted this statement as well “This gives us a really good understanding of the potential strike length of ore drives into high-grade goldmineralisation as we go deeper at Never Never. ” It’s not really clear what this means. Maybe other posters are clearer.
The following statement was if interest and not sure why it was highlighted - “We also see exciting potential to the south of NeverNever towards the northern end of the Gilbey’s/Four Pillars mineralisation and we will be drilling this areaintensively during 2024.”
They have 4 rigs drilling and more to come.
SPR Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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