resource upgade , page-3

Thank you for your well researched comments Todays.

From doing my research on the recent announcements and presentations I?ve also come to the conclusion that the JORC will be substantial, close to double perhaps but in one of the presentations ( last AGM preso I think) the company stated that there will be another drilling campaign and that they are aiming for a 2 million tonne resource which in my mind says that this hasn?t been reached although there is a lot of room between 880 thousand and 2 million tonnes.

As to the rights issue I agree with you in that the company needs a good announcement to have holders take it up and the timing of it sits quite well with me as it allows current holders to prevent their holdings being diluted by paying for shares at a price that I believe will seem like a bargain in a few months.
I?ve also paid a bit of thought to the possible findings of the scoping study, mining methods, processing and the like.

From what I?ve managed to learn about the characteristics of the ore it is quite course in respect to the wolframite and stibinite (not sure about the gold) which is a big upside as the grind size prior to flotation and gravity processing would not be overly expensive to achieve.
The underground operation might have to spend a bit more money on reinforcing the drives as the phylite and siltstone that are on either side of the ore body aren?t the most structurally competent rock types going around (similar scenario to Cobar).

This is definitely not a downside in my mind but it?s the only close to negative thing that I have come across.

DYOR