yes nice announcement. But it confirns we only have 17,000oz underground, plus a bit more from drilling in recent months. But still tiny. If there are issues with open cut, unless they can come up under the open cut, there’s not enough there for a viable mine. Be good if they’d make a definite statement that they’re either going to go with open cut, or come up under it.
the good news in the exploration targets are some are also underground, but they’ll be months in drilling, then getting lab results. But the market likes it up 25%. Although we usually fall back later in the day after good announcement.
exploration targets are quite reasonable as there was so much drilling in the past. So we should have confidence in at least the low numbers, with some chance of closer to the high numbers.
cheers,
ned.
MTC Price at posting:
32.0¢ Sentiment: Hold Disclosure: Held
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