Looks like there has been a lot of work done in converting...

Looks like there has been a lot of work done in converting resources to reserves.
It's hard to read the three dimensional models of course and the colour charts are even more difficult to read.
This is a most conservative quarterly report and should please the accountants amongst us.
It's good that Frank has pulled back the expenditure to concentrate on the very best prospects. Expenditure at this level will mean the cash on hand will last two years.
He clearly doesn't think it necessary to tell us at this stage what the total reserves/resources are currently. No doubt that will be forthcoming.
The global average valuation for gold in the ground per ounce is around $A250.
Obviously, measured and indicated reserves are much more valuable than inferred resources. I would imagine our reserves/resources would deserve a valuation of around $A750 million by now rather than a tenth of that.
My view, having had discussions with various people, is that we will eventually end up with a resource worth up to $2.5 billion. We might need to wait a little while.