Let's look at Mutooroo for starters. In the last quarterly...

Let's look at Mutooroo for starters. In the last quarterly report there were only nine drill holes over 750 meters. More drilling - a lot more drilling - is needed to establish a JORC resource. Variable thickness and grade was mentioned too. There is also a lot of native copper which has to be taken out of calculatons if it has not already been done. (Same sort of issue if one is looking at a gold deposit with a lot of nuggets/free gold. these have to be taken out.) A mine is being talked about even before a JORC has been calculated by an independent consultant/company. Oh, something I do not recall seeing before a value per tonne put along side a drill core!! No where near a mine let alone JORC - just an assumption.
Kalkaroo as I have said before does not seem to be stand alone on either copper, gold or molybdenum. Looks more like a molybdenum deposit with copper gold credits. One can not use the spot price for molybdenum as it is considerably higher than one wouild achieve for a contract price.