General Discussion Topics, page-1027

I disagree with this statement.

If they say they'll get $200M NPV out of a mine, that's all they're going to get.

Typically when they are doing there DFS they are scratching for coin and don't want to spend more on drilling than they need so they drill enough to get the numbers needed for the DFS but that is not all that is in the ground and they note this in the DFS using words like probable or inferred, and then also note that they could continue in certain directions meaning that they were still in the good stuff when the drills stopped.





So you are correct that whatever the DFS says is in the ground is there, but that is usually not ALL that's there, and in most cases you can add several years of mining on with a small capex drilling program.