Sounds like the continuing struggle to achieve an acceptable grade after benefication (62%?) has probably always stemmed from the feed grade being too low. Recent drilling of the ore they had planned to use has shown that even at depth the grade is not improving (maybe even dropping).
Rather than persevere with crap grade feed they will spend some money and buy a lease with higher grade ore to solve the problem. Shouldn't cost a great deal as it has no appeal to other companies. All sounds very good to me, in fact a big step forward in my opinion.
Good to see them in a lengthy suspension to prevent the SP from drifting even lower while all this takes place
IOR Price at posting:
6.9¢ Sentiment: Hold Disclosure: Held