Out of interest if SPR end up establishing that NN, 4P, WW, Sly Fox etc all join up, I assume the method of mining may change for what would end up possibly being a monster tier 1 deposit. SL has made this suggestion a number of times in recent months even, I believe suggesting it’s likely and he believes there is a much bigger system. I am currently very sceptical but would be extremely happy to eat humble pie.
Would some sort of cave mining approach be feasible if this, what I currently consider a low probably, possibility eventuate?
If SPR demonstrates from the current drilling program the area between NN and 4P contains gold ie the deposits join, that WW widens to include Applecross ie join and Sky Fox is much wider, then the probability of all the deposits joining will increase significantly and will have a major ramifications for future SPR plans past mid-2024.
It this situation pans out then SPR will need to reconsider the mining method and in my view will defer the restart, undertake a much bigger CR than the last $25m one to fund a much bigger drilling program post mid-2024 which may last for over 12 months before they are ready to do a FS.
I only see positives if this unlikely scenario develops.
SPR Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
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