Viper30x, can't agree with your points above...the 200T trial is complete, the lab testing is due shortly and 'should' determine the recovery rates that ultimately support the funding and Lacerta agreement completion.
Why spend money on JORC when so many results have confirmed the resource at Marianas? I must admit to enjoying high risk/reward so my thoughts are certainly not conservative, but we do have EUR10m funding that surely, if it is finalised and terms are not too costly, backs the scoping study and various trials otherwise the funder will loose out.
It is prudent to do it for the right project, but its not like we're exploring...more like a development project.
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