MRE for Texas Silver District
It’s a positive that TMZ got its Texas updated JORC 2012 MRE out on time for Texas.
It now means that TMZ has 40.2 Moz AgEq combined after the Conrad MRE which had 20.7 Moz AgEq.
We’re looking for the completion of the remaining MRE update for Webbs and we think TMZ may now need to drill to hit the 100Moz AgEq nark to do so.
That 100Moz AgEq threshold forms Key Objective #1 in our TMZ Investment Memo.
TMZ has flagged a geophysics program is advancing at Texas so we believe there could be some drilling upside to come there.
TMZ moves methodically, but it’s our view that this is necessary to advance Australia’s highest grade undeveloped silver resource.
The silver price got as high as US$25.60 an ounce on February 24.
