As this thread evolving into a SolGold comparison; I will add my...

As this thread evolving into a SolGold comparison; I will add my thoughts here.

they are obviously well advanced and now have issued a PFS and bring the real perspective into view on porphyry deposits.

Their scale is ginormous, both in terms of potential and cost - spot NPV of USD7.9bn ( pre tax) and requiring USD2.7bn of capital to build.

The capital is almost 20 times our current size! - so we have some way to go on our own journey. In terms of initially sizing and then de-risking the project you need a significant number of holes drilled and you also have the issue of actually sizing the number of potential fields in your overall catchment. Having Bramaderos as a growing prospect makes this a potentially bigger capex than SolGold.

Interestingly enough, the market didn't like SunGold's updates; the SP being down 20% since 11 April (could easily be other causes, am not across the LSE or SolGold)

So in summary, Malcolm's strategy of developing the prospect but not looking at production makes perfect sense as regard STM just not having the scale to DIY in terms of funds or resources.