big tick, page-3

One of the things that I have gleaned in the last couple of months from either a HC post, a Broker rep, or an email from the co itself, can't remember where I have seen it, is that they need to prove 400plusMT to make the continuation and funding viable and that this is what they are aiming to do via the JORC compliance report when it finally arrives. However this quarterly is stating indication of initial 80-140MT. Possibly this is a lot lower than people where expecting to see when they finally in a position to release some figures and the market is reacting accordingly. It's still probable that the 400plus (hopefully 1B) is there but it's taking longer to prove hence the escalation of drilling capability being shipped out. I know I'd have been happier seeing none JORC indications a lot higher than 140MT although they covered their butt by stating "initial". Hopefully they are only still scratching the surface, literally.