Ann: Wallbrook Exploration Target & Mineral Resource Estimate, page-112

1 g/t cut off is not common with a small deposit. DEG and its mega ilk have low grade deposits but huge processing plants.
No way could a reserve of under 1m oz au be viable without a cut off at 2g/t Au.
Explorers choose a 1g/t cut off when they are desperate to increase the size of the MRE
Only 81K oz gold is indicated, the majority is "hope its there, but we won't know until we drill:
An exploration target is substituted for an MRE when the ASX has knocked back the MRE due to the inferred proportion being too high, The JORC code says only 1/3 can be inferred.
Have to ask now what is a reasonable MC for the company?
The market will decide with more downside to come imo