There are 3 resource categories (Inferred, Indicated. Measured), and 2 reserve categories (Probable, Proven). SPR has 75% of their current resource in the indicated category. Indicated converts into a probable reserve. Measured converts into a proven reserve. Most producers have the majority of the reserve in the probable category. Jorc code 2012 states that an inferred resources cannot be converted into a reserve category.
Mt Magnet current reserve total will very likely soon be surpassed by Dalgaranga. SL has indicated on numerous occasions that he fully expects a higher-than-average reserve conversion ratio (as high as 75%) due to the better than average scale and low variability of our primary underground deposits (Never Never, Pepper).
RMS Reserve Note the majority of RMS reserve is in the probable category.
SPR Price at posting:
$1.31 Sentiment: Buy Disclosure: Held
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