Its inferred until further drilling results, look specifically...

Its inferred until further drilling results, look specifically at the announcement: based on diamond drilling and RC results see paraphrased parts of the announcement:





Market is behind on this announcement, at a conservative level at $1,300 p/oz. this makes an inferred JORC worth approximately $85 mil USD (rounded up).


In the instance this is to be considered an open pit mine, costs will be attempted to be kept low. Make your own calculations on how much it would cost to start a mine up and running, our current MC based on having 86.75 million shares on market is approximately $15 million.

Given that there is plenty of uncertainty and qualifications made in this announcement I would infer from the information provided, there's plenty of upside to be had and this is just one of several sites the company currently has.