Maiden MRE guesstimates, page-11

Further to my previous post & just for clarity, i have not referred to the mining inventory that the scoping study will be based as 'Ore Reserve' because usually at this stage of he project, rarely are any ore reserves declared. If the mining inventory satisfies the JORC requirements under 2012 of the JORC code, than fantastic, only means a higher confidence and more value added.That is my opinion.

I don't think there is any need to make fun of the 'in-pit resource' terminology I have used as some other ASX companies also use this terminology as their current mining inventory does not requirements to be declared as ore reserves. (example of terminology use below).



Lastly, to expand further on my previous post and to avoid confusion, i was just simply highlighting the fact that not all the Mineral Resource in the MRE will be the in-pit resource (mining inventory or reserve) as part of the strategy for a large open pit operation. Also meaning that the entire resource in the MRE will not be mined. For example GOR declared an MRE of 3.84 Moz for their Gruyere deposit, however, only 2.09 Moz of in-pit resource/mining inventory was used to support their scoping study, which represents approximately only 54% of their MRE resource of 3.84Moz.