Ann: Investor Presentation - RIU Sydney Resources Round-Up, page-12

In the DFS they didn't include the inferred resource and I don't think the mine pit design included 100% of the indicated/measured resource, hence the 12Mlbs (Say ~ 16Mlbs of the measured/indicated U308 down to ~12Mlbs output for LOM with 85% recovery).

So this drill campaign should convert SOME of the inferred resource to indicated/measured, boosting what might go into any updated DFS/NPV type valuation (They said they want 50% of the current resource indicated/inferred, so that's like ~22Mlbs?). Not sure if they expect to expand the inferred zone?

Still I think the 70Mlbs will require more drilling than what is being done this year? That's just my interpretation, hopefully someone a bit smarter than me can work it out. The vanadium obviously not priced in, so that will be the juicy detail for Tiris.