Finally... some results from Ok/Star, which overall look great, though the amount of NSI implies it's not as successful as at Scotia South.
These results are mainly infill drilling, though they imply it's extensional (some of the results are outside the MRE, but most inside, which is fine, as that just ensures they will convert more ounces to indicated and into reserves, which I think gives OK/Star a 4 year LOM which IMHO, is excellent)
With extensional drilling now becoming the major focus with a dedicated DD rig.
As usual, PNR provides some clarity of production, without.... giving the full picture. Though Ok/Star are arguably very important, because they are the highest grade tonnage of the project right now. Having confirmation that things are ahead/on track is welcome.
Perhaps sellers are wondering if this announcement is... to soften a poor quarterly result? I don't think anyone is expecting an amazing quarter as the MD has already explained, but... it will still be a profitable one, unless something has gone amiss with the Scotia ramp up....
Either way, OK/Star is going to be mining profitable for years to come. Results are impressive, but... perhaps the market just expects more? Green arrows are outside the current MRE of 218k...
PNR Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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Though Ok/Star are arguably very important, because they are the highest grade tonnage of the project right now. Having confirmation that things are ahead/on track is welcome.
(20min delay)