Dilution at a $1.5B market cap for working capital , is going to be minor between being 1 year out or 2 years out from production, and sp value is more than covered for by an increased NPV 8 from increasing the OVM with Pepper on similar levels to NN (less development cost per oz with higher OVM obviously ) , and now this new lode that has been discovered also on a similar ASL .
If we had put in a decline earlier it would have likely not been orientated for Pepper and the Portal would have been in the wrong place for WW and 4P
Is NN open cut (OC) close enough to the Gilbeys pit for a cutback ?
I do not see how the decline is temporary , is there any reason they can not mine NN OC at the same time as the NNUG if they have say a sufficient cc 40 Meter thick crown pillar ?
Mineralization deeper than 140 meters is likely to be UG anyway just because for OC strip ratio is exponential with depth , while costs for UG increase only linearly with depth so they had to put in the decline
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