While Gob smacked by the grade being returned, I feel there a few concerns that Mr Market has.
From the scoping study, to paraphrase "there is the reasonable possibility" of economic recovery of materials. I was not aware that having super high grade actually made recovery more difficult. Learn something new everyday.
From what I can see, none of this current drilling has expanded the size of the strike, effectively it's all infill drilling. While this does increase and upgrade the size of the resource it doesn't paint a "blue sky" picture.
Fully funded for this drilling campaign... But then what....?
Fully diluted MC is about $50M. Looking forward to the JORC, expect a moderate upgrade in resource size and increase from inferred to indicated but prob not a game changer. Think a positive PFS with solid MET work would be the bigger SP motivator.
Will be interesting to see what the SP does today. Hope my order gets hit GLTAH
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