@jeremy - they’ve explained it pretty well in the report though,...

@jeremy - they’ve explained it pretty well in the report though, it needs added infrastructure & the lower grade gold + that infra costs increases aisc for entire project.

if U was in phase 1-4 then a diff story of course.

Don’t think they’re doing a dis service after looking at all options & proceeding with the one that’s closest to development & allows 80% of their resource to be worked on at a better aisc.

may be as PH says, if U indeed goes to that 80-100 (& is sustained) then they may look to fast track BRC exploration.

A $20m mcap spec stock 2 yrs ago without a 2012 std resource (just historic potential), some green fields in WA, long challenging EA approval process for SA & <$2m in the bank & 2c share price currently has

a) 4.3 moz at > 4g/t
b) EA & MR
c) DFS on Stage 1 & SS on stages 1-4
d) JV with a top 3 miner on ASX for Mt Cecelia
e) $9m in the bank & emi to help with some cash flow
f) 4c sp (despite the 15-3 run, it’s still 100% roi & way better than an offset acc)
g) $227m USD NPV with further growth potential on SA resource increase below 200m in stages 2-4/WA hits something/BRC-Useperate entity/prospecting rights area grant increasing resource

& hopefully not far from the biggest de risking event in funding (hopefully before Q3 ends in Sep)

Yeah they could’ve done some things better but they still got a fair chunk right.