RE:And CEO'S "mudcreeker" puts up some sobering comments....... Lol. I've been MudCreeker here a lot longer than I've been MudCreeker there. However, just to show that those comments aren't me trying to justify a negative surprise, let me quote something I posed here back on March 6 '19, while people were starting to chatter about the possible size of the new resource estimate after all the drilling...
"I'd like to make a point about the current drill program that I haven't seen made here, and that I think is important. Maybe it's so obvious it goes without saying, but I'm going to say it anyway.
When you're at the PEA stage, you can include inferred resources in the plan, but at the PFS stage, only indicated and measured can be used. Therefore, good management will try to boost total ounces, including inferred, before doing a PEA, which our guys did. When they move to the next stage, any inferred ounces that fall inside the pit shell have to be omitted from the PFS. So between the PEA and PFS wise management drills to convert inferred to indicated. Which is exactly what our guys are doing."