The market is an irrational beast. The drill results were...

The market is an irrational beast.

The drill results were amazing. They suggest the grade and size of the resource will increase dramatically, which should improve the project metrics substantially.

We might be sitting on a deposit that is larger than Sigma's. This will take time to determine but meanwhile the drill results indicate the deposit is going to be substantially larger. How big is the question.

Which leads me to the PEA delay. I'm perfectly fine with it.

I'm guessing that by waiting for the resource update in June, LRS management have decided to aim for something closer to Sigma's Phase 1 & 2 PEA, which came in with a USD 5 billion NPV.

If our financial metrics are somewhere even close to Sigma's as far as capex and opex costs then look out. These types of projects are rare.

Whoever misses out on Sigma out of Tesla and the Chinese would have to be pretty interested in Sigma's baby bro, one would have to think.

I'm pretty confident the patient are going to be handsomely rewarded on LRS. it will take a bit of time though...