Moving a "large portion" of the UZ resources...
from inferred to M or I would be huge for the projects NPV. Here is a quote from the MD and A:" In Q1 2017, drilling continued in the Upper Zone at Cukaru Peki aimed at upgrading a large portion of the deposit from the category of inferred resource to either indicated or measured resource as part of an ongoing pre-feasibility study." I have always thought they would move some but not a large portion as stated here. They have 1.7 million tons M and I and 35 million inferred so moving a large portion of that 35 million to M and I would be HUGE even if it would obviously result in a lesser grade. This is why they keep saying that analysts are not coming close to realizing how valuable the UZ alone really is. Am I missing something? I can see this resource upgrade substantially increasing the roughly $1.5 billion NPV as only 1.7 million tons were used to get that figure. This is why they have spent $40 drilling the UZ in the past year. Will it be $2.5, $3 or $3.5 billion NPV by the time they release the PFS in Sept? Then we have the LZ for the future....