Excellent if simplified theory on the tipping of the 'black smokers'. Thanks for explaining it to all.
Separately on Reserve definition drilling.
Usually as one goes from Resource to Reserve. The tonnes go down and the grade goes up.
That's because you use the drilling to exclude blocks that are not a mineable grade.
In this case, both grade and tonnage have gone up. Which means more metal to be mined quicker and should mean a higher valuation in the DFS.
It also explains why they have concentrated on the main Antler orebody. It's a combination of the quickest and lower-risk way of adding mineable tonnes. the other targets aren't going away.
Why the SP has gone down over the last few days I have no idea. What I do know is it's raining my belief in the orebody which will be important (to me at least, in allocating capital) later. Not least because gold and now a couple of my REE's and U, are showing promise too. the fact the market is showing short-term thinking is perhaps an opportunity. Certainly selecting my "batting lineup" benefits.
All IMVHO.
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