The presentation contained three bits of information indicating...

The presentation contained three bits of information indicating that TG6 may have a strong to very strong conversion of JORC resources to JORC ore reserves when the Burmeister project progresses to these stages. This could mean the project has financials that would normally be associated with a project with significantly larger resources, perhaps even 50% to 100% larger.

The first is that 95% of the exploration target is inside a $2,500/t pit shell. The exploration target wasn't assuming depth extensions that had super-crazy mining costs. I'd like to know the exploration target inside US$800, $1,000 and $1,500 pit shells but that will come with time.

The second is pegmatite consistency which should enable most of the inferred to become indicated with a simple further infill drilling pattern. Indicated is needed to become Ore resources from feasibility studies.

The third is adding 10% mafic. Mafic and ROM ore don't mix well due to Mafic being high iron and offtake customers requiring a low iron (1%) product. You either lose part of the pegmatite in ensuring no mafic is in the mix (the thick seam approach) or you mine 100% of the pegmatite and a little bit of the mafic on each side to ensure you have all the peg. You then sort out the black mafic from the lighter pegmatite when the material is out of the pit. TG6 is testing if the later approach works and the presentation indicates it does.

This Mafic addition approach also indicates thinking about how to mine Burmeister rather than define a resource and get bought out as the pathway to shareholder value which should lead to more sensible decisions.