No. That's not how Bryan team looks at. The fact they lodge the Scoping Report to the NSW Mining Department stating Hawsons project as a 20mtpa operation for 20+ years shows that Bryan team knows they will have enough at least 400mt resource.
I also explained in details before how I expect total resource of more than 500mt to be eventually all converted to Indicated/Measured category. In other words, if we see 300mt in Indicated/Measured category and 200mt in Inferred category in the coming update = 500mt total resource, this 500mt will be eventually all in Indicated/Measured category. That is because in 2016/2017 drilling campaign they were able to convert massive 96% of Inferred to Indicated at 9.5% DTR cut-off grade at the section where they did the in-fill drilling. Then in Oct 2021 the KPS report came out with optimal cut-off grade of 6% DTR grade. This 6% optimal cut-off grade basically bring the previous conversion rate of 96% to 100% conversion rate from Inferred category to Indicated category. Therefore i believe Bryan team KNOWS with the now optimal 6% DTR cut-off grade he will have all 500mt eventually under Indicated/Measured category. And that is why you can see he always presented Hawsons project as a 20mtpa operation-400mt resource project with slurry pipeline and Myponie Point port also as a 20mtpa operation set-up.
Bryan team must be absolutely sure they know what they are talking here. They know what they have there. They need 400mt. They have >500mt and they know it will be all in Indicated/Measured category eventually.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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3 | 814934 | 2.1¢ |
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Price($) | Vol. | No. |
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2.2¢ | 120000 | 2 |
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No. | Vol. | Price($) |
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3 | 814934 | 0.021 |
12 | 672474 | 0.020 |
10 | 2549391 | 0.019 |
2 | 75610 | 0.018 |
3 | 248823 | 0.017 |
Price($) | Vol. | No. |
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0.022 | 120000 | 2 |
0.023 | 257029 | 4 |
0.024 | 635124 | 5 |
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