The resource estimate and 3D modelling data has been progressively updated by cube consulting throughout the entire campaign
The MRE can be produced at anytime, it's simply a data output from the Block Model based on available data.
The reason the MRE has been pushed out to June is based on the significant scale increase, hence the raise to accelerate drilling
This is effectively the final raise leading to the DFS/BFS
The last conservative model estimate from @123david321 has Ternerna at just under 2Moz.
Assuming the MRE will only factor drills up to the start of may, that is up to another 96 drills (circa 30,000m) of drilling. Essentially, the entire phase 1 & 2 drilling campaign. I strongly believe the target MRE will be in excess of 3Moz at a minimum.
We can acquire another 10%, taking ownership up to 80% by project payment of $50Kusd
It doesn't matter what the SP is, infact, it's actually better if it's higher, we can negotiate the acquisition of the final 20% through full/part share based payment
