Yes, didn't see this nectar. I'd like to pick up on a couple of points. I watched intently the presentation and was bouyed by some of the detail you don't get by interpretting slides. SP did stand up there though and say PFS initial report is due in a couple of weeks, drilling results commencing mid March and metallurgical results towards the end of March. He also said that he had just been to the met and assay labs looking at the cores. Well, the earliest any of this will be released is Monday which is 25 March. Some may say this is only a week or so late, but I do return to what was said to the market at the end of January...it's over a month late.
Got a bit spooked by the comment that they were contemplating a decision to accelerate exploration or crimp back and wait for PFS. This was obviously discussion around the peer analysis which had IDC at $30oz and the comment that Newcrest's exploration costs in PNG were $25 - $35/oz. The guts of that ended with demonstrating to the market the potential of Mt Kare with the PFS and then expand the resource at a value of +$100/oz. That begs the question, will there be upgrade as previously stated before the PFS is released in August?
The presentation is all good stuff, I'm just waiting for the talk to turn into walk.
BT
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