yep - i concede the grandure of it is out of wack. But if you...

yep - i concede the grandure of it is out of wack.

But if you bring it back to its basics, and provided that drills delineate something modest in 30/3,
then the base case can get of an 800ktpa operation has merit. And that is my position. Not chasing 300MT, that is fanciful.

From our 30MT inferred drills, if we treat that as a wider sampling exercise to identify hot spots, which subsequently delineate several MT of DSO 30/3, then good.

then given the Mega wider 300MT target, there remains the possibility to delineate further hot spots.

It is the right sector, and rising bauxite implies that going forward, some of the lower grade areas may become more economic.

My understanding from oil and gas, and not sure if it is different in minerals, is that you first have a resource. And you have various degrees of confidence, Inferred, Indicated, Measured.

And it becomes a Reserve, when it is economically extractable. So our 30/3 or whatever they have priced at 55/t in offtake would be deemed profitable reserves today.

As the market moves, say Bauxite prices continue to strengthen, it makes lower grade deposits lift in value as well.
So in that case, more of our wider lower grade resource, may find its way into reserves category.