RE:RE:Assessment of the value of AGGI had a little bit different understanding.
The initial PR regarding the Sept 14, 2020 drill campaign states the goal was to upgrade 575,000 oz of inferred resources in oxides to measured and indicated, in hopes that would translate to a minimum 250,000 oz in reserve. This way the reserve would be over the key 1mil oz.
I am not a Geologist, in the least, and I doubt the math is this simple, BUT just looking at the numbers - 1,191,260 currently in M&I and 754,800 in Proven and Probable looks like a conversion rate of 63%. Even though the June DFS says a conversion from M&I to P&P is 84%, which is weird to me as I can't seem to understand how that calculation is reached.
Anyways, In order to get 1mil reserve the aim would be to convert 400,000 + oz of inferred into M&I, with a conversion rate of 63% to obtain the 250,000 oz in reserve.
That would calculate to 1,600,000 oz M&I at 25.00 = 40,000,000 + 4,000,000 PP = 44,000,000 / 175,000,000 = .25 SP
Please tell me where I'm wrong, I want to learn.