The degree of certainty. Resources are not as certain as Reserves; in order to progress, it requires increasing levels of certainty and measurability.
Inferred < indicated < measured
Probable < proven
Resources are converted to reserves after further geological work has been done to increase level of certainty and confidence around the viability of extraction, based on a set price @ x$ per oz.
You should not be investing and holding gold miners if you don't know this information, and I encourage to spend this whole weekend researching further into this.
Ann: Resource Reserve and Guidance Update including KCGM, page-8
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