Ann: High-grade Intercepts at Bulletin Mine, page-18

You spot on it!
BLK has no issue on the resource/reserve side, and apparently market doesn't take any of this kinds of updates seriously.
Rather, operation is the tricky part of the story, BLK has never delivered any meaningful progress in the past.

What always make alert is the way and timing the management select to announce those "market sensitive" news regarding drilling or study of "200k production expansion", and normally followed by an ugly operation drama.

I can't make any assumption that the business has indeed turned around, until I say a very solid production qualter.