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:
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.
NVA Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)