RE:43-101I was baffled as to why they did not issue an updated RE on the much larger in-pit deposit at the same time as the deep deposit. According to MD&A, it will be out in the next few months.
The higher grade underground deposit appears disappointing due to the fact that the previous RE used a cut off grade of 2g/t whereas the recent RE used 3 g/t. Any deposit that was in the 2 to 2.99 g/t range basically disppeared in the new RE.
I guess they are trying to add value by expanding the underground deposits. If they can get the various pockets of deposit to meet up, then it will be a game changer. Grade is not brilliant IMO and it will require a lot of drilling.
Updated RE for the main deposit porphyry could be a catalyst for price increase prior to a financing.