1. Management's original plan was to drill more and increase resources, not getting funding or they were unable to get funding. The DFS was used as a bait, to rise the share price, attract more investors like dundee and get $20 million cash through CR. I remember when I spoke to AR few years back he was more interested in drilling than development, may be he already knew that they wont get funding with 2.4mtpa??. However he claimed that drilling is for getting constant news while they are organizing debt finance for development. I hope he was telling the truth.
2. Second story could be that Management made some poor decisions. If drilling was an original plan then why wasted money on DFS as you will have to re-do it or is it possible that you can just update old DFS with new amount of gold reserve??
If We are "lucky" if we get higher grade results then things will turn out to be great for us.
