Liling, I'd suggest the market is waiting to see the new reserve statement which is due out this week. They confirmed just 2 weeks ago that this would be an end-May release.
To be fair, they haven't spent too much over the last QTR and have been quite sensible and somewhat conservative (Dec to Mar is not drilling season) - so would suggest a modest increase rather than a spectacular increase might be what the market's expecting IMO.
Ann: Deep drilling intersects significant mineralisation, page-54
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