An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade (or quality) are estimated on the basis of limited geological evidence and sampling.
An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated or Measured Mineral Resource.
It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources or Measured Mineral Resource with continued exploration, including closer spaced drilling of the Kalkaroo deposit.
Just so we are all on the same page as to how the $65 million would be realised, see the extract of page 12 of the Terms Sheet (dated 16 May 2023) below:
Source: https://announcements.asx.com.au/asxpdf/20220517/pdf/4591z2q3fdz87x.pdf
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
Ann: Havilah-BHP Kalkaroo Work Program Update, page-14
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