What stands out to me is that there is not a single ounce in the Proved Category. I recognise that there are no universally accepted rules but in general for a Feasibility study aims to have a high degree of confidence. Thats really the point of a Feasibility Study after all. In general this is round +/-10% to 15%. Fundamental to this is the confidence int he underlying Resource estimate. The confidence in the Resource estimate is expressed in terms of the Resource category. Again no hard and fast rules on this but In general Probable Reserves derive from Indicated Resources are +/-20-30% i.e similar to a PFS level of confidence. I struggle to see how something supported by Probable Reserves can be represented as a Feasibility study let alone be the basis of FEED.
NUS Price at posting:
36.0¢ Sentiment: Sell Disclosure: Not Held
