Ann: Drill core assays significantly increase Cu grade at Moubiri, page-42

So you haven't invested if a spec resource??

They did just pass all Res's. Did they note?
One of those Res's was to purchase a % in Shen for a purely conceptual copper prospect.
Where after a site visit. Their opinion is just a matters of judgement and may not prove to be an accurate indication of the quality or quantity of copper which Shenglong has identified or may be able to extract.

I'm sure after the spend around $6m exploration expenditure for the near term period they might have an idea if they have an idea if they have a mine-able resource.

I mean with out a drill program the changes in mineralogy in the ore deposit can result in inconsistent recovery affecting the economic viability of the project. Yes?

I would say given speculative nature of exploration activities, there are significant uncertainties associated with forecasting future revenues from the Company’s proposed activities.
So one wonders where 400,000 to 800,000 ton per year is derived from. Conceptual????