Malte's post Malte posted an excellent analysis of Santo Toms on his Subtack earlier in the week which provides a nice summary of where the past year of drilling data has positioned the project.
https://maltehumpert.substack.com/p/how-to-value-orocos-santo-tomas-project?sd=pf
As the drilling program has unfolded over the past year or so, the release of additional data has clearly demonstrated a substantially expanded resource. At about the 5:20 mark in his video, Malte shows how the historical North Zone resource has expanded substantially from the original high-grade shell as a result of the confirmation drilling. This is a very good detail that you should pay attention to.
There are many other variables at play when evaluating the value of a large copper project such as this (proximity to surface, access to utilities, co-metal credits, etc.), and many of those variables are trending in Santo Toms’ favor. His analysis covers these as well. The long-term price of copper is a key part of pricing these projects. I have some thoughts on that and plan to follow that up in a subsequent post.
Check out his video on Substack.