Aren't we drilling the mid-point between North and North Uphill,...

Aren't we drilling the mid-point between North and North Uphill, for the purposes of upgrading North's shallows in confidence, upgrading the Inferred to M&I?

It would be hard to miss and hit nothing.

I think we're unlikely to miss, but also unlikely to have any big surprises. It's mainly drilling to upgrade confidence for PFS. Any 'big hits' promoted on ASX will likely be within known North/North Uphill resources.

The North Uphill MRE update is where there's some potential for surprises (though they already gave guidance of their North M&I target - 500koz from memory).


Drilling here, which is already inferred


Here it is showing M&I only, and with no MRE update for North Uphill drill results yet.


It's all about creating enough proof so PFS is possible to complete, including both North and North Uphill in the pit design and financial calculations.

With PFS complete, a starter pit would be more viable to finance (especially if the road happens), but probably still needing DFS, I'd guess.



Raising: if a raising is inevitable, then it may be preferable to expand the US raising on fairly similar terms, rather than wait some months and hope that the SP rises, but have to offer a new discount.