I think there reaches a fine line between over-drilling which...

I think there reaches a fine line between over-drilling which can burn cash and causing dilution vs drilling what needs to be drilled to get project finance.

Aside from that, extra tonnage just increases mine life - doesn't really change the IRR. Life of mine - is a bit of a folly anyways. As its always based off the highest geological confidence. That being the measured category.

You'll often see many deposits that shift into production that have plenty of exploration upside. In KDR's case they probably could have continued to drill for years. IMO it would have been a little unnecessary. Once the economics was strong enough to attract project finance, i garner they would have considered exploration/expansion drilling with the profits once in operation.

Same will be the case with LTR i presume. Use the cash wisely to prove up as much as they can to get a nice big resource base (which they already do) then concentrate on the DFS and getting finance or JV done.

Exploration upside is also attractive to prospective JV or financiers a bit mystery to entice. Kind of like the main vein LTR has - I'm interested with the drill results that come back from that. I'd personally leave it open at depth - inferring that it continues. As opposed to finding where it terminates.


LIT ETF as well. Got close to breaking through on friday. We'll see what next week holds.
Rising tide lifts all boats?

SF2TH