This really is a significant announcement for an $8m MC explorer.
Focus on the high grade 20-24Mt at 110-120g/t AgEq = 81M Oz AgEq at the mid point.
Shallow, open pitable with upside.
Peers
IVR 24Mt at 73g/t Ag MC $82m
SVL high grade 30Mt at 101g/t AgEq MC $250m
ILT also has room to grow this target and, eventually the high grade resource, by the addition of Orient East which already some very high and wide grades returned from 2023 drilling.
So whilst ILT has flagged an infill drill out and MRE for the balance of 2024, what is a fair value? Can't stay at $8m.The exploration target has very strict parameters so I would expect an initial MRE to be within the ranges quoted which would then put us in a very close ballpark with Bowdens.
Well done team.,
This really is a significant announcement for an $8m MC...
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