I believe there are a host of reasons why something can be non-JORC. Assumptions, not enough drill hole data, uneconomic etc. In regards to the 4.5moz I dont believe its reasonable to believe that it is not enough data. The 'measured' component of the dunite resource was about 60%. What is interesting of the most recent results is that a considerable amount of the results was completely new ground outside of that previously explored by PLA.
Regarding the nickel, I had enquired about that. About 50% of that will be extractable, which corresponds with the assumptions in the palladium equivalent announcement. On the topic of palladium, was up another 6% overnight. Trading at almost $700US/oz above the price of gold. As stated earlier Russia supplies about 50% of the global supply. A new cold war could send the price of palladium sky high. The spread on palladium is huge with tight supply and supply/demand dynamics could face a perfect storm that could send the price parabolic. Massive reduced supply from Russia, increasing demand as automakers replenish stock after chip shortages drained on production and supply over the last 2 yrs.
FME Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
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