Almost certainly already priced in. Very little chance of a...

Almost certainly already priced in. Very little chance of a surprise for this upgrade unless there’s something remarkable that happens in relation to grade (but again unlikely).

A mining reserve of 55Mt @ 1.4% would be incredibly positive IMO (but doesn’t necessarily mean a positive impact on share price). Given the current JORC shows measured closer to 1.5% than 1.4, and indicated already sits at 1.36%, there’s a decent chance we end up somewhere around the 1.4% mark across the reserve (+/- 0.05%)

Sigma’s reserve up until a month ago was 55MT @ 1.44%, and just recently went to 77MT @ 1.4%.

Theres obviously a significant impact to LCE if the grade is increased across the same tonnage (something often missed by investors).

I’m more interested in the offtake news than the JORC upgrade (and I’d suggest that bigger money is also waiting to see what is negotiated here).