Great news - and if I'm reading that correctly after this resource announcement it's STILL open at depth, with grades increasing.
It's the Reserves upgrade that's more important though, not the Resource. It'll be interesting to see whether the increase in grade offsets the increase in cost of going deeper - I suspect it will, so I am expecting a nice Reserves upgrade here.
It's also interesting what they say about the semi-massive sulphides being more prevalent - it's very common for computer models which use krieging to 'smooth out' a lumpy deposit, they don't handle them very well. So nothing to worry about there, in fact it's good news IMO. The more SMS the better.
AOH Price at posting:
16.0¢ Sentiment: None Disclosure: Held