Resource verse Reserve

New thread New Question.

After looking back through the announcements regarding the resource I have questioned what we are really talking about and the implications they have... Obviously more is better

As I was looking I have come across this definition of Ore Classifications;

https://en.wikipedia.org/wiki/Mineral_resource_classification

It has occurred to me that every announcement has described the deposit as a "resource" (and at first glance I really did not think much of it), now though I am questioning is this resource "bankable" yet, as to say could we go to a large institution and borrow against it??

The link above describes a "Resource and a Reserve" differently and a Reserve to be considered a better classification then Resource (if I am reading it correctly).

To break my question down then;

a) Are these definitions correct and true in fact?, anyone with experience in Commercial / Investment banking or Mining experience would be appreciated? (I would like to point out that as far as I can see there is no asset listed on the books for Axiom for this resource hence why I think there is a "bankable" difference)

b) How does a resource move to a reserve, I again am presuming more testing etc,

c) when would a company look to have a resource proved to be a reserve? (there only seem to be benefits with having a reserve listed borrowing for example, having this reserve listed as an asset).. I would have thought at any point before development would be ideal if you needed the finances to complete the development, however Axiom do not seem to be in that position so, then When?

There might be more I am missing to this I am sure but thought I would ask. The reason I think it could be relevant too, is because there seems to be talk of insto's becoming interested, however (IMO only of course) insto's might not be so quick to jump when there is no "Proved Resource" that is "Bankable", unlike most of us they are accountable to more then themselves when spending money.

I want to make it clear that I do think this is a great resource and is everything that we believe it to be, I am only asking for about the definitions as it retains to assets of a company and our available options when financing.

Thanks for all help

GLTAH