TNG ... MC of $1B ... why not?, page-34

fingerling-

It is a little interesting I agree.

The 15th April drilling results were basically summarised as interesting, and potentially extending the Mount Peake potential in a massive way.

That said, none of the direct drill results were that amazing, although they definitely offer potential.

I wonder though, if they really were going to just triple the size or more of Mt Peake, why not try and prove it up now? Wouldn't that lead to a SYR type result?

That announcement finished with this:



I guess ultimately, as we concluded last night, some of this will come back to cash. If you've got limited resources, make the known thing happen, so you can crystallise value first, then you can pursue other upside. Perhaps no point in betting the farm on something that you hope will be good, versus the proven resource.


--Q