Hi All
It is my understanding, with regards to future resource upgrades, that once the original jorc resource is upgraded above 25%, under TSX rules Extract would need to produce another NI 43-101 Report. Which is a very costly and time consuming exercise to do.
This is probably one of the reasons for waiting until mid next year, when they have enough drill results from Zones 1 and 2, so they can upgrade the entire resource to Indicated and Probable Reserve categories.
As well as a possible maiden jorc resource statements for the new Zones.
Regards
Steve
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