Sorry, I should have looked closer at the other half of the question. No, you don't just bump up the Oz's on an upgraded MRE for a PFS.
You go through all the work to calculate the pit shells and material movement, finish enough metallurgy tests, get some idea of the sufficient of power water usage and sourcing in fact. I believe you get sufficient detail to +/- 25%.* In fact given the investor's level of risk appetite one may be able to hang one's hat on those numbers.
That being the case I can say in speaking with Caigen and the fact he has done the same for Tietto and is on a reasonable level of familiarity with the meister of mines ( or at led the guy in charge of permits). He is due to meet him in June and I think those milestones are very likley to be met but could have minor drag.
All IMVHO.
* In Australia, pre-feasibility studies (PFS) aim for cost estimates with a typical accuracy range of ±20% to ±30%, representing a more detailed evaluation than scoping studies but less precise than full feasibility studies.
AUE Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)