So Here is my reasoning!I am a very high risk investor which is obvious as anyone playing penny mining stock has to be high risk. That said, I am a conservative high risk investor as such I try to keep things simple as to making knee jerk decisions until I have time to do a thourough investigation. So here is a simple method at first glance. So there 4 million ounce resource cut-off grade .2 grade about .6gpt so .4gpt to cover other costs apart from operational costs plus profit. Todays resource in order to have a .4gpt differential from a .3 gpt cut-off you need a grade of over .7 so about 5 million ounces of really low grade stuff vs 7 million ounces.
Being more conservative I would want the same differential of Victoria Eagle which is about .55 gpt based on their last technical report. So that bring you to under 4.5 million ounces of low grade. So now you look at Victoria financing was done during low interest rate environment financing and other costs today are 20 to 50% more so not sure there will be much interest in the play without much higher gold prices.