My analysis is an assumption based on achievable conversion of resources to reserves in a Feasibility Study. I just looked at a peer project and used that as basis for an assumption, rather than just making up a number.
Better chance of achieving 60% conversion of resources to reserves at the Feasibility Stage than at the pre-PEA as they will do more infill drilling between PEA and Feasibility Study.
Ann: Continued Expansion of the Korbel Gold Deposit, page-119
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