armenia mining deffered, page-90

where's the guessing?

The company have revised a previous decision that's all.
Companies are allowed to do that.

They offered sound reasons for their change in direction..
After deliberating further they saw that it would be premature to raise funds for a plant without knowing the "full" potential first at Armenia.

this suggests to me that TMR senses the drilling will be fruitful .. possibility of an open pit and resource upgrade being very, very likely.

Obviously an open pit would require a much smaller cap-ex, - they would more than likely decide to develop this ahead of the underground.

So TMR is saying .. let's see what the drilling reveals and build a plant/fund this accordingly.