RE:RE:Retired GeoThe only way to establish how many ounces represent proven and probable reserves is via a Feasibity Study.
I don't think SGD will ever conduct a FS at Valley or any other site.
SGD recently provided the following Mineral Resource Estimates at Valley:
Inferred 3.3M ounces
Indicated 4.1M ounces
Measured: 0 ounces
I suspect SGD's goal re. future MRE announcements is to try to move as many Inferred ounces into the Indicated category and as many Indicated ounces into the Measured category. Measured ounces provide the best chance of becoming either proven or probable reserves when the FS is conducted. Indicated ounces are lower probability and can only be converted into probable reserves. Inferred ounces cannot be converted into reserves when a FS is done.