resourse upgrade, page-35

That's pretty much what JG stated at the AGM. This upgrade would tighten the resource up (higher JORC cat) but in doing so reduce it slightly.

The next upgrade will blow it out again as it's likely to step out the drilling and prove up more resources into the inferred category

The drilling program after that will infill and in doing so tighten the resource up once again and move it into a higher category (indicated & measured)

And on it goes so on and so forth (hopefully)

Be mindful a higher EV (enterprise value) will be allocated to a higher JORC level, so in fact you may find the resource has decreased in size but significantly increased in value $$$

I'll get a chance to add more comments on the iron ore as promised before hopefully tomorrow.

Just felt the need to reply to your well observed question right now.

This market cap better increase soon because once the metallurgy results prove the recoveries are achievable and the DFS proves the robustness of the economics of the project MYG could very well be under serious threat of a takeover.

In this day and age it is sometimes much more preferable to buy a resource then go out and discover one...the infrastructure in place just makes it more attractive!!