Correct.
He also said that he expects to add reserve twice faster than depleting them. Also he said that everywhere they drill - there is gold, mostly near surface and oxide. So they WILL NOT need any plant upgrade (huge derisking for me).
Also, low volume means slow accumulation. It's a buy and hold for me now.
Beer and Co: Wide, high‐grade, shallow intercepts. Upgrading our valuation, page-52
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