EGA 0.00% 28.5¢ egan street resources limited

Ann: Further Positive Ore Sorting Results on Drill Core, page-16

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  1. 10,813 Posts.
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    @naggingnan they did let us know about the ore sorting which wasn't expected. The ore sorting result puts them in a difficult spot in regards the MRE. They could have come out with an updated MRE based just on the drilling results over the last 6 months, but the ore sorting has thrown a bit of spanner into this. The consultants doing the MRE need to go back and recalculate everything with a lower cutoff now and they can only do that once all the ore sorting results are in.

    While I would have loved to have had the MRE out before May I can certainly wait until mid May (or even late May) provided we get a massive upgrade. I will be far more upset if we get a delay in the DFS, as this would be a lot more damaging.

    I agree the market doesn't like delays no matter the reason. I actually don't mind them since provided there is a good reason it can be a nice way to buy in cheaply. You just have to look at how GOR has been hit because of rain putting them a few weeks behind schedule and which is likely to be caught up over the coming months.
 
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