This is a really important announcement. High grades and clearly more resources coming on top of the 4.3M oz we already have. But the best part of the announcement was this:
"The incremental addition of an underground operation at Urucum targeting a modest 0.5 Mt pa project has the potential to lift gold production at Tucano to a steady state of over 200,000 oz pa and materially increase the reserve position."
This is a huge statement and it confirms that there is a great growth story not only this year as we go into production but future years as well.
I'm surprised this wasn't highlighted at the top of this announcement as it is the first time they have discussed seriously an additional operation to lift output above 200,000 oz pa.
Clearly we are headed for strong sp growth. Game on.
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