Yes, as has been discussed previously, if most of resource is converted to reserves then mine life at 100,000 oz pa could be 9 years, but who knows what lies deeper. So if the earnings can keep up- we've had two good months- then company is clearly undervalued.
In the recent resource announcement I noticed something that I missed previously. Most of the increases were in the M2 shoot and partly this was due to recent drills and partly due to extending the reserve down a bit. However, recent new drills for the M1 shoot, with good high grades, were not used in the new resource and reserve. The announcement adds that: "There is potential to upgrade the resources and reserves within the M1 shoot if there are more positive results". So there's a reasonable possibility of some of the M1 shoot (where most of the 'loss' occurred) reserve being reinstated.
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