"From my perspective the reserve is more important than a good MRE update and it will likely have a positive SP impact if it’s 1m Oz or higher given that they is a lot more to come. It is rare to have such a high conversion of inferred resources to a reserve which means a lot more to come."
NN is a relatively high grade ore body that is thick and contiguous along strike (high conversion likely because of those factors ) , however also because of those factors it will be mined if it is indicated , just as likely as if it is in reserve therefore it would be a poor use of capital to drill it out to a reserve status except close to surface .
Better to spend the money on step out drilling as they have been doing and then do drilling underground later and even then debatable if necessary to get anywhere close to reserve status IMHO - and my perspective .
Interesting to see the relatively high AISC per ounce from BGL for the quarterly .
SPR Price at posting:
$1.09 Sentiment: Hold Disclosure: Held
(20min delay)