The size of the landholding is largely irrelevant, given the...

The size of the landholding is largely irrelevant, given the only importance is the mineralised ground.

Compare it directly with AR3 for example (all this is per the slide in the presso)

AR3 has a 81m/T JORC but it needed to drill 28.9km2 to get it. Also it's resource intensity is 2,200 tonnes TREO/km2

HRE has a 28m/T JORC and only needed to drill 2.2km2 to get it. It's resource intensity is 7,950 tonnes TREO/km2

In other words, AR3 had to drill / explore 13x more land to only get 3x more JORC than HRE

The scope to expand HRE's JORC to many multiples of it's current size with little additional drilling is very large given it's resource intensity and this for me is a huge appeal.

As I was commenting yesterday, it was the perfect start and this story isn't widely known as of yet.

Word will slowly spread and all the while the register will get tighter and tighter. It will become harder & harder to lock away a decent sized parcel of stock as there are so few on issue & already appears very tight.