The last mention of converting OP from resource to reserve before mining commenced (see below)
The BOD & steering committee has to take blame for this one not only did they not meet reserve requirements for OP but they substantially increased risks via the TAM / Coyote deal. What was going on in the board room- not much! These guys did absolutely nothing for shareholders; nothing but instigate complete & utter disaster.
ASX 31/3/2014
A detailed infill and extensional exploration program has been designed. This program involves a drill out of the open-pit resource (top 50m) with the aim to convert the global resource estimation to a more locally accurate resource suitable for finalisation of open-pit designs and estimation of a mining inventory or mineral reserve ahead of production
Smokin gun!, page-10
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