This is exceptionally good news for a few reasons besides the obvious calculating breaking numbers.
1. Shows JZ is a man of his word, he told us the resource had more to give, we simply needed to drill deeper to show a larger resource but at the time of the first JORC was looking after cash flow so avoided costly excess drilling.
2. JZ is a Stigler when it comes to spending so he wouldn't drill deeper to prove a larger resource to simply smack a few Twitter profiles in the face with a wet fish. He would only spend money if it was important which says to me this was needed to form a deal off-take/funding.
3. Showing this resource to market will help AGY run hard once offtake and funding has been reached.
AGY Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)