The big thing for me is that the bottom zone flowed, looked to be about 1/5th of the volume of the stimulated zones, and wasn't included in the resource estimate. Clearly not all 2C will convert to 2P, but I think there is potential to surprise on the upside given the flow rate and contribution of that lower zone.
VEN's 30/4 presso gave this timeline (snip below), which implies about a 3 week period for assessment. As Cara stated, assessment stated prior to 21 August...so we must be close...and going by this timeline we must also be very close to tolling, sales and infrastructure agreements...noting of course that according to that timeline nothing is really due until end October.
Given the size of the VEN placement I think they will need to have some news up the sleeve to support it...so wouldn't be surprised to have some news coming thick and fast once that's open. Should be a very interesting presentation by VEN tomorrow.
MEL Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
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(20min delay)