Stand by for what Neptune? Do you know what the path is?
To be technically correct, Syrah should really should use the new in-fill drill results to revise the resource estimate to achieve JORC indicated status, then update the mine plan, production plan and financial model in the Scoping Study, then release the result. The new resource will only be partially indicated (on the bit just drilled), and partially inferred (on the rest) and as long as the Scoping Study is based on the indicated part, everything will be hunk dory..
Or
They could circumvent this by taking the 'non purist' approach by just releasing the old Scoping Study result after achieving Indicated Status on the key part of the resource. This is not really a truly valid approach, but could be taken.
The second option is much faster than the first.
However if the first option is taken, I would imagine a fair bit of time before we see the Scoping Study result..
What does your broker say about this?
cheers gosouth
SYR Price at posting:
$1.97 Sentiment: None Disclosure: Held
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