As per the first 2 lines of the announcement
1. this is a 20% increase in indicated resources (not all new resources). Its is mostly just moving from inferred to indicated giving more confidence in the resource and allowing the coy to progress to a prelim feasibility (you cant do a reliable feasibility on inferred resources only you need indicated or measured).
point 2. they will now move focus onto resource expansion (some of which is already underway).
PS: I concur with some other posters that this is a takeover target, in 6 months they will have a base feasibility + plenty of additional expansion/indicated resource that can be added to an updated feasibility + blue sky + underground platform infrastructure in place. They say "moving towards production" but it fells like "moving towards making it easy for someone else to do the production"
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- Ann: Indicated Resource increases to 1.04Moz at 11.4 g/t gold
Ann: Indicated Resource increases to 1.04Moz at 11.4 g/t gold, page-8
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