I agree with Johno that this is looking like it could be a tier 1 asset.
"Tier 1 mine" definitions might vary a bit but this is one which I believe TTM's Dynasty project will fill either with or without contribution from nearby Copper Duke.
"Using long run commodity prices it generates >$300-600m pa of revenue (i.e. >200 kt pa Cu or >800 kt pa Zn+Pb or >5kt pa of U3O8
or >250 koz pa Au) for >20 years and is in the bottom quartile of the cost curve.It has very robust economics and will be developed irrespective of where we currently are in the business cycle and whether the deposit has been fully drilled out. The resource is of a size/quality that it creates multiple opportunities for expansion."
https://minexconsulting.com/definitions/tiers/250,000oz/yr over 20 years would need a deposit of at least 5mill oz reserve but that could start with a 3-4mill oz reserve with ounces added or converted from resource to reserve over time. A 5Moz reserve would need a resource of perhaps 7-8mill oz. I think Dynasty has short term well demonstrated potential for 3-5mill ounces with strike extensions of multiple zones of high grade veins that are yet to be drilled and depth extensions from the current 100ms to say 150-200ms (currently at 2.1mill oz @4.5g/t to around 100ms depth) and it could go much higher than 3-5Moz, e.g. to 6-9Moz, with depth extensions beyond 150-200ms. The deposit could potentially go much deeper than that. The high grades from surface to 100ms (open pit) should easily satisfy the lowest quartile costs requirement. Whether it ends up being tier 1 or not isn't going to matter to investors getting in at this mc. Gains should be very strong regardless if drilling confirms the likely potential.
This all takes time to prove up so I'm looking for the sp to continue to trend up and go through periods of consolidation. Despite the current 3 month long consolidation, the stock is in a strong medium term up trend. I have traded part holdings with the larger swings and brought my average price down to 9.8c. In 3 months that is a 35% gain overall so I'm happy with my investment here. I'm not trading now because I'm expecting a bigger rally in the lead up to assays next month.
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