Ann: Teck starts drilling at Alacran, page-14

Discontinuity is partic problematic in Op East Section 5 area. Almost all stacked zones are separated by low grade buffers (10m+), reducing excavation economy-of-scale (larger number of smaller pits) and elevating strip ratios (not a good thing)

Continuity in Sections 6 & 7 (Op S/e) are reasonable, but the grades and thickness here have consistently landed at the lower end of company expectations

Ultimately, this project is borderline imo. Tony may find it challenging to raise for this project using data disclosed to date. The lack of scale, and mineralisations distribution, cast long shadows over project viability imo

I believe this is why the share price has fallen to a new all time low, and does not budge regardless of how many 'market sensitive' project updates the company pumps out.