Exactly agree no problems in delaying FS a little if it will mean incorporating substantially more resources into reserves and extending LOM.
Look what happened with BGL 3 months ago when they had 2.5mil resource and came out with a initial FS with 760K reserve and 6-7yr LOM. Stupid and no point, stock got smashed due to concerns over management smarts, they should have just waited till June and done it properly first up.
In both cases if the delay is small and the increase to FS is substantial then hold off and do it properly. Just make sure you communicate this to the market in a clear and open manner.
PS: These Puzzle North results are excellent
Ann: Puzzle North Discovery Continues To Grow, page-19
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