I can see your logic but it has flaws. That inferred JORC is not something that can be used to estimate Au worth per ounce. The same as Newmonts comment about 500000ounces. Its there but at what grade? I'm almost certain that gold under about 4 g/t will never be dug out and mined. I also think Lole aren't going to pursue going to Indicated because of the low general grades and the BS cutoff. What IMO Lole are interested in is a few areas of veining where they are almost guaranteed a couple thousand tons at very select locations of close to 10g/t. Its worth a couple of million to them but still requires serious work.
Ann: PNG Project Sale, page-76
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