Reserves vrs Resources I've asked the question before, and I don't recall a response, but does anyone know typically at what point in a Miner's exploration/exploitation process can resources be converted the the coveted Measured reserves??
I recall in the original PEA there was a bit of a disclaimer about indicated and inferred resources are not yet reserves and not Bankable as such. Etc etc. SRK kept bugging for more and more drilling, I've read where they have to be Economically verified etc.
The whole process seems overly defensive to deal with scam artist overstating ribbons of gold in giant slabs of bedrock. It is pretty obvious to anyone with some sense that the boron is in the ground there and plenty economically sound.
so hopefully this PEA will move some to a Measured category, if not maybe the Elaborate (with looser guidelines) will.
Or do we think we see Measured Reserves in Step 2?? Do we need measured reserves to go to step 3?
Or is this essentially what we are waiting for? To me this is the only real hurdle, but the bosses seem to be rolling along as though we are solid on that front.
Can't wait to see the PEA!! Have a great Saturday.