Hey @signalFollower, was always going to be the case & with jnr...

Hey @signalFollower,

was always going to be the case & with jnr miners it always is this way. inferred resources are just that inferred, which may as well mean they dont yet exist when we are talking asset/collateral backing arrangements. Offtake partners or any financiers for that matter rarely throw money at ventures without having it secured by some form of hard asset.. Jorc Indicated oz underpinned by a feasibility study are considered an in ground asset, inferred are not..

Back of the envelope calcs put the full 110koz gold resource at an estimated in ground value of $47m usd.. 40% of that wouldn't currently stack up & you have a 49% jv partner in the Cuban Gov.. Add all that in and you have circa $12-15m usd in asset backing, not including La Dem. Which I doubt a financier would accept as an asset class until it is fully sorted. So if Brian wants the offtake partner to put up the cash then of course they need as many oz in tne indicated category under Jorc & calculated into an FS as they can..

As I said the original 7k of drilling should have carried the lot, but I'll wager the 30 odd holes they canned as not up to scratch in the MRE are most prob what caused the need to put another 2000m down.. Remembering the goal of the drill campaign was to verify & validate historical RC drilling. Any discrepancies & you've just lost that bit of area coverage ovef the resource body. It says in the MRE why & some of the reasoning was that historical drilling had over estimated some values so the DD hole value being accurate then creates a discrepancy & you can't then rely on the old hole.

It's all about having confidence in the ore body for Jorc reporting. Smearing on old RC holes was often reported as enhancing the grades beyond actual & the Canadians did lo e a Bonanza headline.
PDH001 or maybe 002 hit 197 g/t but it was left out because it skewed the picture more than substantiating it. Consistency is key & nuggets are anything but a great headline as far as that is concerned.

Won't take long to drill & wont co.e with any surprises I dont imagine as original holes were twinned for the most part as validation data points.. Resource (Gold) was always there, it just wasnt validated to jorc std. We didn't find any more than what was originally stated by any large margin, unless we are talking copper..

The 50mlb identified topped the original 20mlb by a fair ol whack.. Prob cause KWG were only interested in gold & noting the extra 30mlb is between 100-150...

Its that 30mlb Cu that is the real value add that came out of the drill campaign. The rest you could argue was all validative infill drilling. Now whats the in ground value of 30mlb of copper oxide/sulphide at 100-150m depth? Paid for out of the profits made in stripping the top 100m? ;,) g

ltah h8tey