Thank you Zempheth. I appreciate the time you took to put that...

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JEZ2A

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10/11/21

10:57

Post #: 57453673
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Originally posted by zempheth: ↑

yeah Gonneville is a little disappointing considering 175,000m of drilling (for reference sunrise deposit JORC resource was completed with 49,990m)

first and foremost its the palladium that makes this economical so it should be viewed as a PGM project with comparisons made to south african reefs for example. the base metals are below average in terms of grade.

Open pit boundary makes the most economic sense to mine:

this is the break down of revenue (note the 3E PGMs are 4:1:0.04 Pdt:Au), my basket price is $1800 for 3E

For reference Sunrise breaks down below (i have left out Amsul)

at $3Bn valuation the market is clearly pricing in a lot of exploration upside. the issue there is that the remainder of the 26km strike length is in a state forest. economic ore bodies are likely to be patchy as shown by the EM surveys. don't get me wrong it a great discovery nonetheless and i would say that this discovery is one that doesn't fit into Sam's observation that "the cupboard of sulphide deposits is empty"

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Thank you Zempheth. I appreciate the time you took to put that informative answer together.

Amazingly, we're seeing a few deposits with close access to Perth, in Boddington, Image Resources Boonanarring & Atlas and now Chalice.

I used to survey RC & Diamond drill holes for deviation back in the 90s and that amount of drilling reminds me of Ed Eshuys on Joe Gutnick's patches. I have a friend who grew up on the Sunrise patch and he said they were going to mine it when his G dad was around 46 years ago. Hopefully, he & I live to see it come to fruition!

Thank you again mate.

SRL Price at posting: $1.85 Sentiment: Hold Disclosure: Held
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