Hi Hal,"It is undoubtedly not a reference as to the actual...

Hi Hal,

"It is undoubtedly not a reference as to the actual resource at Mt Kare.
A PFS is NEVER an accurate statement on the longer term viability of a mining project, but more, a reality check with the purpose of defining where the work needs to be done in a BFS study to bring a project into a model which maximizes profitability."

Very much agree with above. Previously I was commenting on the snapshot at this point in time from the PFS. I would see plenty of potential for improvement before the BFS (and to thereby see an improved IRR and payback), but that's a wait and see for now. Above and beyond this, given the neighbourhood, there's always the possibility of a "Zone 7" section of resource being located, which transforms the entire prospect.

I'll be interested (along with many others) to watch how the drilling program and resource modelling progresses towards BFS stage, but Le Derp's point re "orphan" stage on the lifecycle is always a worthwhile consideration, depending on investment timeframe.