Ann: Norseman Project Growth Plan Presentation, page-30

Hey Kip, not long until we find out how close to the pin you got with the June Q production. Though my guess is closer to 21-22k for the quarter.
As for guidance. hmm..

I was looking at some old reports in regards to another company and whilst PNR and the Norseman assets overall have a huge amount of ounces, the one thing it does not have is a large open pit with a low strip ratio, which currently is not necessarily an issue, versus the justification to upsize the plant earlier rather than later.

In any case, Just to the south of the PNR plant, lies the Mt Henry complex, owned by Karora Resources (in 3 weeks it will be an enlarged WGX).
Within the Mt Henry complex, lies the Selene deposit, with an MRE of approx 620k ounces.



Karora had planned to truck the ore 75km north (literally past Norseman), but with their main U/G mine expanding as an ore source, it is simply not needed any more. Though I suppose in 10+ years that might change.



While the grades are nothing special, it's the low strip ratio that makes its viable.

In any case, I think this map clearly shows the logic of.... further consolidation.



As for the share price, nothing goes up in a straight line.