The quarterly is due before 28/04 and will provide information on the ramp up to full production and costs, anything before then is pure speculation. The MRE update whilst slightly underwhelming isn't a cause for alarm, it achieved the primary de-risking purpose: increasing measured resource to cover the first 2 years of production, supporting strong FCFs. A large volume of this drilling was infill with exploration outside of the current resource in scope for this year, that should lead to greater resource growth.
The fundamentals remain the same for me:
- Producing gold at full production.
- Payback to be completed at current GP in October.
- Low-Cost drilling ($35/m) with a the main gold shear largely untested.
Don't sweat the short term - DYOR.
TIE Profitability, page-72
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