I thought it was very encouraging, to add 44 million ounces to the already defined resource of 51 million ounces.
Of course the targets are conceptual only, but the ann read "...Cobar has confidence in this target statement..." with all the usual disclaimers.
Although it is typically understated by management, it really does emphasise the potential for much further additions to the resource. Which already underpins production of 12.8m ounces for 5 years. With low capex to start up, $22m initially.
CCU Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
