Pup, Your comment on updating the JORC is well founded. The problem isa, they dig a bore hole and strike copper in previously thought is sterile ground, or scrath a pad and knock the top off a pile of copper.
I agree, at some point they need to bring upto date, but when and why? Internally, is there enough spare quality manpower to feed the Independent geologist, and how long to produce vs starting a cashflow? How much diversion from what is being done i.e. diversion of resources to put extra timmings and achieve the level of in-fill detail needed.
I don't know. So, base your assumptions on the existing JORC and build your case or not from there. Everything post-JORC comes down to whether you think management made the right decision way back to just go mining and self-fund, or not.
CDU Price at posting:
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