Meridian mining comparison, page-6

Yes. They first need to finish diamond drilling and generate a resource, then they will engage 1 of possibly 2 firms to conduct a scoping study. The study will generate similar numbers to that of Robust Resources. EPM do not need to define a resource or conduct a scoping study given the nature of the deposit and grade, but they are doing it to make them investment grade. As in the example above, Meridian Mining did not define a resource as there is sufficient high grade outcropping Manganese to mine and fulfil their off-take. As EPM is fielding off-take offers, the scoping study would be useful in extracting full value.