In my mind the patient play is to mine with a decent dfs knowing you will get to the deeper gold if it is there. If this is a 30 year mine the only way to find out is to hang on to it and start mining when there is a viable DFS. There is a limit to how far ahead you can economically get by drilling out an underground mine because deep holes are so expensive and the targets are relatively narrow.
My post was about deep drilling seemingly more aimed at takeover attractiveness than contribution to a dfs. No problem with resource definition or exploring the lookalikes.
Difference of opinion about TO vs mine I guess. I would like SPR to hang on to what it has, start making money. Down the track SPR can do the taking over. No 40% premium in the short term but better in the long term. The proviso is that the current team are up to running a mine. Not meant as a criticism, just wondering.
Won't matter what I think anyway ... if Delphi and the other big holders don't want to sell there will be no takeover.
SPR Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
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