Eloise has good grades ~2.5%, but next orebody sequences are very deep.
A1M is drilling shallow prospects around the main orebody to get around this problem, yet that begs the question why the previous operators did not pursue that option.
At some point the equation shifts on haulage costs lifting ore 500m+ versus the relative merits of Jericho, which is shallow but in two skinny vertical deposits. DMR's drilling program seeks to prove up Jericho which is open along strike and at depth. More information would make a transaction possible.
Ash
MEP Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
