On first view I had a similar opinion to you, but when I looked further into it I might have to retract some of my negativity about Dargues once I had a good look at that long section.
Whilst I accept that there are some infill holes in there - the infill holes aren't drilled for fun - they just give more confidence to do the development and upgrade the resource in these areas.
I have drawn a red outline around the areas where it looks like they have some decent grade and thickness (e.g. intervals like hole 45 with 1.6m at 2.8g/T Au maybe isn't going to be economic from underground, but the 5.3m at 4g/T certainly is EX338).
Anyway - looks like they have added to the volume of the Plums Lode down dip and the Main Lode down-dip, and there is nothing stopping more down dip plunge towards the East at depths in that big blank undrilled area on the bottom right of the long section with the dashed red outline.
I agree they paid too much for it, but it might turn out to be okay in the end. I'm holding for everything except for Dargues anyway pre-acquisition and have almost written off Dargues in my own investment thesis.
AMI Price at posting:
44.0¢ Sentiment: Hold Disclosure: Held
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