RE:RE:RE:Significant Maiden Molybdenum Resource Defined Adjacent to.. I'll be the first to admit I don't know much about molybdenum mines as I haven't invested in one before and don't know the comparables well.
I'm glad to see an update and the initial resource. From a quick look at other mines out there this seems to be relatively small to start with a high grade but that's okay I think for two reasons. 1. This is based on a review of older drilling data and it will likely grow once new exploratory drilling is done and the infill drilling better targets the higher grade rock. 2. The cost of extraction should be very low since a mine is already being built. I think this is somewhat common for molybdenum because it is often found alongside copper; however icing is icing and I'm happy about some icing at Sandong that shareholders will profit from. With the price of moly going crazy lately maybe this will be very valuable icing.
As for the halt, it's a bit confusing to me, if this only traded in Canada my guess is the stock wouldn't be halted for this but asx likely has different rules or it could be to manage time zones better.
I'm curious why complete the resource without waiting on the new drill results. My thought is a resource, even if it is just inferred is needed to put bank or government dollars towards the project. Almonty likely already knows it is mineable, already knows it will grow by lots, but maybe needed something on paper that says, yep, this is good enough to start development, we can prove out the rest once we are making money on it.
Two good news releases in a short time, good to see.