Technically incorrect @m0ngy. Measured v's Indicated has nothing...

Technically incorrect @m0ngy. Measured v's Indicated has nothing to do with modifying factors. They only affect Proved v's Probable. Measured v's Indicated typically is only impacted by geostatistics and, in the modern era, very very rarely by anything else. Modifying factors are typically 99% determined by what the Mining Engineer (never the Geo) expect the Cut off grade, Mining Method, Minimum Mining width, Mining Recovery and Dilution to be. Occasionally there might be some influence from other factors such as proximity to historical workings or metallurgical recovery. In the case of Youanmi these could be significant because no-one can really be certain what was mined previously due to the mine being in distress for a lot of it's history and uncertainties around drill hole sampling techniques, hand-held mining and survey reliability, as well as the un/known refractory nature of the mineralisation.

Any resource is actually robust enough to evaluate economically. Doesn't matter what the classification is. At a Scoping Study level you can include anything, even as yet undiscovered "Exploration Targets". You can also do this as part of PreFeas and Feasibility Studies although that is more rare because very very few people actually read and understand JORC and how it interacts with Chapter 5 and Guidance Note 31. Almost anything is allowed. What is not allowed is to convert Inferred or Exploration Targets into Ore Reserves (the whole purpose of JORC) but you can prepare designs and financial models on anything. The key point that must be stressed though is that the study outcomes are only loosely related to JORC and more to Chapter 5. The disclosure rules make it very tricky how you report "Production Targets" such as mining rates and forecast profits resulting from any Inferred and Exploration Target components of the studies and so many, but not all, studies tend to only include anything that is Indicated or above. For internal purposes though and when talking to potential financiers who have signed NDA's you can discuss any and everything, so long as it is not discussed publicly.

As to your point about having a "high degree" of confidence in "the JORC". The Indicated component of the Mineral Resource Estimate (what folk are calling "the JORC") is higher confidence than the Inferred component. The main confidence you can actually have though is in the grade, that is pretty much the only thing that Geos focus on for a MRE when they run their drillhole data through their black boxes. The volumes and hence tonnes and ounces tend to get much less focus. As yet there is no OR and there is no indication as to what the conversion rate for resources to reserves might be. Typically you'd expect about 60% to make it into Reserves but only 60% of the Indicated or above portion. Could be more, could be less. At the stage it is at you could say that the confidence level is currently about 30% of what you might expect for an operating mine and for an operating gold mine you might say it is still not completely certain, depending on how patchy the mineralisation style is.