Hi Super,
the announcement on the Darlot drilling was interesting for a number of reasons. Perhaps they have started to realise just how pivotal it is to keeping their production LOM plan above 200k? Also, they discuss how they even found gold where it was not expectedGood problem to have!
Not sure about a 50% resource upgrade yet, but... it does bod well for future years, as they are basically saying they have already found 30-50k extra ounces to be able to state that FY26 is looking good (as they are producing over 50k p.a, and with the current reserves at 111k, that is only just over two years, or FY24&FY25).
I am also not 100% sure if when they are talking about 'recent model updates', they are referring to the MRE update, or internal estimates). Though obviously it bodes well either way.
Perhaps we will get an updated MRE in the near term, though.... I thought they would likely only do it annually.
Without doubt, the best defense in this case is a good offence, so a higher valuation is a must.
Ann: Red 5 Ore Reserve and Mineral Resource Statement, page-28
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