Mmmm, I was expecting a new resource and the PEA early this...

Mmmm, I was expecting a new resource and the PEA early this quarter as foreshadowed but some data is better than nothing. A comparison to the old resource would help I reckon and I thought is better practice under JORC.  The old global resource was 203 Mt at 0.55 but this included UG at 0.5 % cut off.  The old global high grade core was 56 Mt at 0.85 % at 0.6 % cut off including UG.  This included 10 Mt at 1.06 OC and 46 MT at 0.8 UG.

The new OC only interim resource is much much bigger than the old and I assume the pit shell is much much deeper than the old OC pit shell but not sure.  The new OC resource must pick up a lot of the old high grade shallow areas in the previous UG resource that were just under old pit shell but not sure.

The new OC high grade core is 54 Mt at 0.86 and this compares to 10 Mt @ 1.06 % so they have picked up lots of extra tonnes which is very good albeit slight grade depletion.  

The headline new OC resource is 598 Mt at 0.44 compared to old OC resource of 129 Mt at 0.48 and this increase is big increase but grade not great to be honest.  

The bigger OC high grade core is the key.

More comps like this I reckon sells it better. 

The release looks a touch rushed but is lots of work. They market the metal content of the new resource but the grade of the high grade core. 

Lots to absorb but think you are right that the PEA is critically needed.