Rox in 2023, page-70

The first task for Rox - convert inferred to indicated or measured ozs as shown above in light blue to complete a Pre Feasibility Study
But Rox doesn't have to convert all the inferred ozs shown above..
The ASX rules state that the reporting entity must be satisfied that the proportions of inferred mineral resources …are not the determining factors in project viability. With the price of gold much higher than the base case in the Scoping Study ($2,450 oz au) the viability of the Youanmi project may be robust with as little as 60% conversion which means a lot less drilling and less cost to achieve feasibility milestones, at least to the DFS,
Another factor that will allow Rox to use more inferred gold in its PFS is that Youanmi is a mature project with a lengthy history of successful conversion of inferred to indicted ozs of gold.
The ASX rules state:
The proportion of Inferred Mineral …that may be added to the end of a mine plan depends on the maturity of the project. A greater proportion may be justified for a producing mine with a history of converting Exploration Targets
The Scoping Study states: The Company therefore considers the Youanmi Gold Project to be a very mature project which increases the confidence of converting the current Mineral Resources into Ore Reserves.
Rox is likely to produce a PFS much quicker than the 6 months they planned for.

My Opinion