Hi Nordesmic,
I agree. This is excellent.
Reserves have increased 17% for RRL and Resources 7%.
Importantly, as you state, the grade of Tootheys @ 1.61g/t is much higher than the Duketon global reserve grade of 1.09g/t. The displacement of lower grade ore over the next 4x years will add 30k oz of production to the profile.
I would think that a very high percentage of this incremental revenue (A$51m p.a. at current spot) will land on the bottom line as the mining/ milling costs will remain the same and the additional trucking distance is only 2.5km.
Market yawns.
Cheers
John
Ann: Maiden Ore Reserve at Tooheys Well, page-5
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