“The data from this drilling program helps improve the current deposit model and will support the completion of an updated mineral resources estimation." [page 1 of today's announcement]
I would expect the current Mutooroo MRE to potentially double going forward, not just from the resource expansion potential to the north of the MRE envelope.
On the basis that lower grades of ore can be profitably treated if metal prices are higher, it is reasonable to assume (even if cost inputs have increased in the interim) that they would result in a larger open pit and hence improved mining economics and a longer mine life.
Timing is everything. Copper and gold are forecast to see unprecedented demand and market pricing in the short, to medium and longer-term. Cobalt, not so much.
Duration: 27 minutes
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
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