At a guess I think the internal scoping allows them to establish a target resource/reserve size to take to PEA stage. Allows them to determine possible/preliminary production levels for a reserve and associates cashflows. Goal-setting essentially. Also informs early work on mine design and fast-tracking environmental permitting ( getting ducks in a row ).
TAW did their PFS against a starter operation and expanded the resource later. Started with a reserve of only 4.3 Mt. See their PFS:
https://www.asx.com.au/asxpdf/20170711/pdf/43kkjk14z4kr79.pdf
Cashflows from production can fund drilling to expand the resource/reserves to extend mine life. That’s the general idea I think. Let the mine pay for drilling rather than shareholders.
Ann: Investor Presentation - Nova Positioned for Growth, page-173
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