Have to think when the results from the second traverse are...

Have to think when the results from the second traverse are revealed, assuming they are similar, the level of confidence significantly increases.

There are no previous drill holes at the 2nd traverse, and they are a km apart so, you are talking at least a km of graphite of potentially 100m of width and 150m+ of depth. At the moment we have a point on the horizon, where there had been previous limited drilling, albeit visual inspection would suggest traverse 2 is positive/similar.

If they hit 2 from 2, then your confidence it continues for the full 6km also significantly increases. As @setfire2thehive estimates a resource of that structure is in the order of 80mT, which is similar to Renascor, and already have a level of confidence in the mets.

And that's before you then test the East anomaly, which is similar again. Their geo model seems to be working pretty well, based on Sugarloaf and initial drilling at Lacroma, so you would have to have some confidence of success there too.

I suppose you then get onto how minable the resource is, which im no expert in, but sounds like Mike's initial thoughts are positive, but it would be good for those with experience to share their thoughts.

Interesting times ahead and plenty of opportunity for the market to get a better understanding of the opportunity.