good analysis and proves my point that ALK should have been more...

good analysis and proves my point that ALK should have been more active in exploring outside Boda and Kaiser.

or when I criticised them when they took around 8 months to drill follow up holes around 094.

they seem to be addressing the issue now but more and more looks like they care about milking wages rather than growing the company.

But yes, other companies offer better return in this environment simply because their management and BoDs are more active, competent and work harder instead to be in lifestyle mode.

One strength ALK has is the exploration team - and on this front they can make a difference but this effort has nothing to do with their MD who, even after all these years at the helm of ALK, still lacks the very basics how to explain the exploration potential ALK has. So he is not pushing to take advantage of the only strength they have.
Even during the Crux interview (IF I UNDERSTOOD RIGHT) he said something along the lines - only production matters and everything else is fluff. dear me...

Nevertheless, they did start exploring outside Boda/Kaiser. Small budget for now as they need money to ensure TGOE is completed but higher POG may offer some relief on this front.
so..
On the bright side ALK is now exploring number of projects and may generate news that can move the SP higher. There is real potential the area around 108 and 094 to become another resource adding to Boda and Kaiser in volume and grade and that will enhance the economics of the project further - especially the UG prospects when many think (myself included) the grade to fall as the project matures. This orebody can add higher grades to those late years make the operation lot more profitable over the LOM.

Also to note - if ALK makes a discovery at Allendale then the TGO will have LOM well over 10 years and will be adding Cu module and be Au and Cu producer.
Peak Hill may host massive porphyry deposit at depth and ALK only needs one hit to make big news from that area.
Peak Hill already has decent deposit and the only reason why ALK is not mining it now is because the ore is refractory but new metallurgical processes for treating such ores are bringing the costs down and I think Peak Hill could be profitable these days. I think ALK may be looking at this too.

If ALK does make discovery around 108 and 094 and Allendale then it's SP will move lot higher. Any other positive news from any other project will be amplifier.
And Kaiser may also print better than expected numbers.

On McPhilamy's:

The difference between McPhillamy's and NMPP is the size. McPhillamy's is around 2.6Moz @ ~1.1g/t while NMPP is looking to be around 15Moz @ ~0.6g/tAuEq with around 5Moz at ~1g/t.
McPhillamy's will be mined using around 7Mt plant while NMPP will start with 5Mt and ramp up to 10Mt and then 20Mt which will be bringing costs down.

Also, NMPP is most likely to be JV with a major that will get things moving with both the Gov and on the ground.

And to note - we are sliding into recession and any jobs will matter so even the Lab will be approving mines in NSW. And next elections Lab will lose even unless Peter D finds a way to hand the victory to Lab which is possible. But if he only shut his mouth and say nothing between now and the elections Lab will lose. Meaning any mine anyway will fly.