PEA without Supercells vs PEA with Supercells Hey folks, IMO, a PEA including the Supercells will have to be delayed until late 2025 or possibly even 2026. This is the dilemma facing Tudor at this time. Before they new the significance of the high grade cells, they had committed to a PEA by spring 2025. However, given that it is not just one cell, but multiple, and does have massive economic implications, they want to include the cells in the PEA.
This is not possible with the amount of drilling to date. A high-grade deposit requires a higher density of drilling to classify as indicated or inferred compared to a lower grade. Other factors also matter such as variability of grade, etc. Therefore to include these high grade cells in the PEA the drill spacing will need to be tightened up, perhaps as much as every 25m. Obviously, this will require signficantly more drilling, perhaps even more than they can accomplish in 2025.
This is the dilemma. Do you produce a PEA with drilling to date that does not include the Supercells, just to publish something? Or do you wait until you can produce a more meaningful PEA that will be closer to the eventual reality?
The situation with the MTT may be influencing this decision in both directions. There may be pressure to put out a PEA sooner than later, but there is contrasting pressure to produce a PEA with superior economics. The later would be much more important from a strategic bargaining position as long as it can be completed within the external time constraints they are facing from the
MTT situation.