Nailed it. This is the bet...This is the company maker. If they can successfully bring this on at 1mtpa run rate and mining costs around the $50/t (+ diluted grades around that 3g/t mark) then this will put a rocket under the SP.. all the additional ounces are unhedged.
I went back and reread the big bell comments in all the quarterlies for the past 2 years... done a fair bit of work - dewatered and remediated the old UG workings, built a second decline, camp, extended the strike length of the cave by 100m and now they’re just about ready to fire etc etc Unfortunately though there’s been a bunch of targets missed and they’re still having geotech issues and no doubt copped some of that rain recently. Based on prior performance I have concerns about the companies technical expertise to execute and ramp up this caving operation and it appears so too do the market. I’ve got a decent position in here backing them in but won’t buy any more until I see clear signs there’s no more further delays.
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