New Valuation Due, page-2

The PFS would have already been factored into the Euroz report. As for the link between W.T & S.N i think they would want to see a greater amount of drilling. With the current large spacing between those holes it would be impossible to get any idea of tonnage. Or indeed if it's an area that can ever be mined economically.

Personally i think the market is looking for something that is going to warrant taking this to another price level. Maybe if the planned drilling above the intersection of hole 123 comes up with good grades & over a decent length, that could be the catalyst. But at the moment they are still chasing down extensions & then looking to figure out their orientation. Time consuming work.

They could definitely recalculate based upon the depth extension work done on the main S.N deposit though !

Next time you are talking to Rob, Sarg ask him if he will commission another report from Peter Strachan ? I put a lot more faith in what he says than a broker.