Lots of golf to be played before there is any chance of this being commercial. They still need to do a resource-reserve conversion, moving resources into the ‘measured’ category and reserves into either ‘probable’ or ‘proven’. They are at step one-and-a-half of the 5-step JORC ladder.
In order to get there, they need to do substantial infill drilling, which may not necessarily increase the size of the MRE (1.45MT), but merely move tonnages beween said JORC categories.
Such a drilling campaign will be expensive, and not justifiable for such a small resource.
Next steps should be to extend the MRE (find more tonnes), before doing any resource-reserve conversion, before we can talk about any economics.
