I agree, given time a large proportion (more than half) of that extra inventory will report to resources and than reserves.
There are (routinely) three key drivers. :
- metal price over time.
- proximity to plant and amortization of it's cost in say the first 10 years. (Depreciation for tax over 7).
- Enhanced by recovery developments. (A couple of which we have already sighted and I'm frustrated OZL/BHP didn't include in their study).
All IMVHO.
Ann: Half-Year Technical Update Presentation, page-5
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