Ann: Oropesa DFS Commencement, page-22

Only talking with the benefit of 40 years experience as a mining engineer and the knowledge that I am frequently wrong. there is a right way to go about developing a mineral project and a lot of wrong ways. There are repeating warning signs about projects that go off the rails. This one has a couple. The first is skipping from pea to dfs. The second is quoting all sorts of financial metrics on a pea basis. The latter is allowed on tsx but generally a no no onnasx where pea is not recognised. Have a read of info 214 and have a think.
. https://asic.gov.au/about-asic/news-centre/find-a-media-release/2016-releases/16-111mr-asic-releases-information-sheet-214-mining-and-resources-forward-looking-statements/


grade is one thing but costs and level of confidence in estimates of grade and costs important. The confidence in both is reflected by the category or Resource/reserves.

It may be one of the highest tin grades around but its a primary cassiterite so it needs to be crushed and ground before processing. That makes it not directly comparable on a grade basis to an alluvial tin deposit where power intensive/expensive grinding circuits are not needed. It needs to be compared on a $/tonne of ingot basis.


that metric and the confidence in it it’s an outcome of the level of engineering underlying the estimate