I dont want to appear negative but talk of 600MT is a little premature IMO, we would need to finance a huge drill campaign to shore up those kind of numbers.
We have 2 mines with 89MT (JORC) & another 7 more to go.
If we conservatively assume 30-40MT per mine inline with what we already have, thats still a range of 300MT - 370MT.
I think the market would re-rate anything over 250MT.
At the end of the day its not the size of the resource, but how quickly (& profitably) we get it out & sell it.
I'm not sure i want exposure to ADY post demerger, but a major upgrade of there JORC resource may change my mind.
investor services pending jorc, page-7
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