I respect your opinion, however I have an alternative view (not...

I respect your opinion, however I have an alternative view (not necessarily right).

Of course their main attention should be on doing the Plant upgrade, and from their reports everything is going to plan.

However they have 4 drill rigs working double shifts. I’d suggest the people overseeing this are not involved in the Plant upgrade. Stating the obvious, this drilling is for a reason.

The infill drilling is to put the inferred resource into a higher a category - measured or indicated, the exploration drilling is to expand the Resource as a whole.

The exploration target - which admittedly they haven’t put in their recent presentations, was an extra 670 - 1,080k oz AuEq.

At the moment the deposit is 3.01mt of Reserves made up of various Au + Sb grades for 636oz of contained AuEq

the Resource is 8,766mt about 3x the Reserve tonnage.

If they can add another 1m oz AuEq Resource (as per exploration target), if the reserve went up proportionally it would go up by about 350kt, adding another 4-5 years to the LOM.

I think they’ll work fairly quickly to upgrade the Resource, once that’s done they can then upgrade the Reserve (a totally different process). The Reserve will extend the LOM, double the Reserve you double the LOM, note the PFS LOM was 7 years, it increased to 8 years with the DFS in a fairly short time span.

Ignoring the Antimony we have very good grades, 4g/t for the gold, compare that to Perpetua 1.33g/t, MI6 1g/t

What we are missing to get valuations like these companies is a similar LOM to Perpetua’s 15 years.

I think Ron is very aware of this hence all the drilling, with a few wolves biting at our heels, the quicker he can increase the LOM and hence share price, the less chance of corporate action.