My thinking has been that the delays have 2 likely reasons, and neither of those could possibly be about lab delays. They have deliberately thrown out the stated timeline on multiple occasions, so it is obviously a strategic decision.
Either the initial numbers were way below expectations, and by that I would think only around 200koz or a little more. So they have delayed it to allow as much as possible to bump up the numbers.
Or initial numbers have been good but they wanted to really smash it with a bigger number. If this is the case I hope that number is 350k ozs +.
Another factor could be macro, and they wanted to be releasing in a bullish period, but they will have to delay again to see more than a single green day now obviously.
I am really putting my hopes on the pit optimisation study and the language they use around it. The actual ozs that we have may be what the market will look at, but our numbers will not indicate the real value fully, as we have a soft, shallow portion that can be dug up very easily.
This can and should be dug up and trucked to a mill in a toll treating arrangement as soon as is practicable, and I dearly hope there is mention of them seeking such an agreement in the next announcement.
Still need a little raise or some debt funding to get us to a pour (even if they do as I hope), but that would be a whole lot better than funding the next year of operations with a big raise.
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