NVA 7.89% 20.5¢ nova minerals limited

Ann: Quarterly Activities Report and Appendix 5B - 30 June 2021, page-104

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  1. 582 Posts.
    lightbulb Created with Sketch. 918
    I'm pretty sure there is just 4 drill rigs turning right now, and a 5th is 'on the way..."

    Infill needs to be drilled in order to upgrade the inferred resource to measured and indicated categories. This is important because only measured and indicated resource can be converted to reserves.

    The scoping and feasibility studies will lay forth a plan for mining including an assessment of all costs, capex and opex. The key outcome is an understanding of how much of the resource can be mined at a reasonable profit. The resource which can be mined at a profit would then be upgraded to a reserve.
    Last edited by kduvey: 05/08/21
 
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