mutaroo announcement, page-3

Let's look at the announcement more closely. Firstly most of the first papagraph was in bold text and clearly made comment to the effect it had a mine - based on various assumptions. Oh, and it was down to 250 meters - expensive stuff for 1% copper basically plus cobalt. It then goes on to say - " potentially being worth thee times Havilah's current market capitalization at present metal prices".
The sentence at the bottom of paragraph three NOT in bold says that more drilling is required to bring the resource to the JORC code - "to the confidence level". If you have not got it to JORC you basically have nothing proven. It is an assumption - then you have to go to a bankable feasibility study to get the numbers. What is the cost of digging it all out? Until it is JORC it is not worth that much then the Bankable feasilility study, looks ok BUT...??