A lot of people (myself included) were caught out with the PEA which was only allowed to be based on 26MT even though we had 40Mt+ in resource at the time. This is an ASX restriction placed on companies which limits the amount of inferred tonnage that is allowed to be considered in a PEA.
i assume the same applies (and probably more strictly) for a DFS.
This is my long way of saying, yes I think you’re right that the DFS can probably only be calculated on M&I (and possibly a smaller percentage of whatever is in the inferred category).
This is why I’ve been commenting on the importance of getting as close to 55Mt reserve as possible (it means the DFS can consider larger production volumes).
LRS General Discussion, page-17820
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