They pivoted from the updated SS & Updated MRE. They needed more...

They pivoted from the updated SS & Updated MRE. They needed more $ for increase drilling density, but poopoo SP and MC limited their ability to do such. At current valuations they won't be doing any resource definition drilling. Think that is fairly obvious.

Yes, any further studies would be abortive as there is no way they are ever going to develop the mine themselves.

Geoff has telegraphed his strategy is for an Goldfields Takeover/Acquisition exit as some point. The mapping they are currently undertaking is work that will need to be done either way at some point as any new target generation is predicated on such work being completed.

Got 6 holes coming up at Drone Hill which they would started drilling right about now. If they get lucky and hit something decent, then it'll peak some interest & it kinda validates the target generation for the region. Or they could hit nothing substantial like some of the other targets.

That is pretty much where things are at from a fundamentals perspective.

Alternatively, if sentiment returns to gold small cap stocks, TSO along with other peers will be the beneficiary from an increase from $inflows from funds. There aren't as many pure gold exploration co's out there as before and no one really cares aslong as a market is being made (probably including yourself). Money will just tail what moves.