I think its mining lingo. My mate who works in the mines says...

I think its mining lingo.

My mate who works in the mines says they have like different levels of probability indicated by resource narration ie. inferred, indicated etc... The first "inferred" could mean possibly, with indicated being somewhat more certain etc.... You have to remember that when you drill out a hole the grades the drill sample spit out arent 100% going to be the exact same every time you drill and that the resource may thin, thicken be deeper or shallower etc... Geologists (think this is Bernies area) then work out how likely it is to actually contain the same grade etc...

My interpretation is that the "reserve" which was recognised in the dfs was only 60 mt but they also publicly announced a larger "resource" this resource probably meets the same criteria that the dfs "reserve" meets. Why they didnt state this initially is probably another question for Bernard but the dfs was used to establish a commercial scale so perhaps the only reason they used a lessor amount was for establishment of the site first. Scale up and bigger resource acknowledgement come later under big dfs?