FFM’s latest exploration results have confirmed continuity of high grade Upper Zone VMS lenses and moderate grade Lower Footwall Zone mineralisation. In our view, FFM is well on the way to establishing an updated Ming MRE with greater than 1Mt of contained Copper Equivalent (CuEq) metal. We expect the future MRE to underpin a +45ktpa Cu development scenario. The addition of two new drill rigs is expected to improve result volume and enable expansion of exploration efforts.
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