its because the resource isn't in reserves, only indicated material. They also have a lot of shares on issue so you would need something fairly substantial to increase the price. if they drilled the indicated amount 18.6 g/t Au for 247,000 oz Au. They may only get a certain amount of that into probable. Still a lot of drilling to be done and 25% of the material is still in inferred.
Ann: Maiden Mineral Resource Estimate for Penny West, page-32
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