Hey @Bison8, it is definitely confusing but they do include the existing material in the overall mine life estimate which is 70,000 tons of recoverable copper which is almost 3 years of production (not the 91kt you quote - this figure is the contained copper which you must discount because they don't get 100% recovery). They probably discounted this a little again just to be safe to get 6.3 years. Figure is in the tables in the Restart.
Baz has noted that they can't include the HL resource in the MRE as it doesn't comply with the technical requirements of JORC. Doesn't mean they can't use it in the financial modelling though, it is a real resource. You might recall Baz making a bit of a song and dance on this point when the Restart was released for exactly this reason. They don't want to be accused of misleading the market because the JORC is a big deal. Confusing the market is another thing !!
Might be wrong, but as I've said before, can't see them waiting for the Eastern extension results for finance. Firstly, they have said that the final MRE for the open pit will be H2 as per the program. Secondly, how long is a piece of string. Eastern flank will remain open even after they get these latest results so do they wait until it is closed out for finance ? Doubt it. Gotta draw a line somewhere. Lastly, they said they would do a revised MRE H1 which they have completed.
Cheers
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