hi Goodheart
this prompted me to check the latest annual resources statement.
the 44.7Mt is inclusive of both the main pit and the two satellite pits, Mangrove and Acacia East.
the main pit has a resource of 34.9Mt, of which 27.5Mt is high grade/low impurity. Adding the other 7Mt lower grade material in the main body and blending still provides an overall high grade of 34.9Mt.
so the way I look at it is that there is potential to convert another 19Mt of high grade resource into reserve. Doubt they will be able to convert anywhere near that amount, but any additions could make a big difference. As others have pointed out the company has been quiet about the ability to add to the 16 Mt reserve (as per latest reserve statement).
the rest of the material at the satellite pits and at shine really needs a substantially higher IO price to be considered of value imo
hi Goodheartthis prompted me to check the latest annual...
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