I'm with Bungy and Benbo on this. Benbo did not mention anything about change of resource category status. I'm of the opinion that the inferred category will increase further before any indicated status is announced.
Furthermore in my view the inferred category was calculated on the conservative side so as not to throw up any surprises on the downside if the infill drilling did not live up to expectations. As Bungy mentioned Railway is still open at depth and possibly in other directions as well.
I know the 110mt inferred JORC announcement on July 28 contained a passage referring to expect Railway to progress to indicated or even measured in the coming months.
Quote (Receipt of assays for the infill drill holes, together with data from the new diamond drilling program, will enable the Company to upgrade the resource status to indicated or even measured within the coming months.)
I think we'll find now that the backlog in the lab is much more backed up than originally anticipated, therefore I'm not holding my breath for an indicated status to be announced in the timeframe the company mentioned on July 28th. I'm thinking much later this year.
UMC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
