The possibility is that it’s up for sale and the most value accretive option for all shareholders is to expand the resource so we have a higher NAV and hence any bid would reflect that. Similar to what WC8 is doing right now in the lithium space, doubling down on drilling as takeover seems like the most likely option.
the other reason is that they don’t want to make the mistakes of the past and they want to fully understand the resource prior to starting production and I don’t think anyone should knock them for that. You could argue that understanding the resource is much more important now compared to ever before - the 2.5mtpa plant wasn’t built with NN in mind, so they have to frame the mining plan around that plant. The opposite to what most aspirational gold producers would be doing
hope this sums it up
SPR Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
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