Nothing surprising in this resource upgrade for mine. Always knew the carbonatite was larger than the high grade section the previous resource was drilled on, always knew it was open and the grades were likely to go lower further out... and so it has. 50 year mine life, 100 year mine life, what is the difference if the metallurgy or project's financial numbers aren't commercial? If the numbers are commercial how about proving it and getting a mine up and running rather than spending another year and millions dollars to prove what doesn't change the equation or answer the real questions?
On the plus side, the long awaited announcement has provided a liquidity event for old holders to exit, and probably more than a few of the last placement holders to pick up a tidy +30% profit thank you very much day traders. Hopefully there are longer term investors with deep pockets that will follow this up with more buying.
good luck
PM8 Price at posting:
2.0¢ Sentiment: None Disclosure: Not Held
