I would imagine a conceptual resource is one that hasn't had sufficient drilling to make an official JORC resource. Yet the conceptual size is an indication of what the management believe would be there given the drill results so far.
Goldmania my understanding is that more drilling is needed to move inferred resources to indicated. Basically fill in the gaps drilling. Management may have decided no more drilling is needed at Konkera before the BFS (or before they give project the go ahead) because they have enough understanding of and confidence in the orebody as is. Some of these inferred resources may be at depth where its expensive to drill to convert inferred to indicated.
"what do they need to do in terms of drilling to generate or validate these assumptions? or to put it another way: how long off before we validate these hypothesis? "
My answer - just more drilling. How long ? Your guess as good as mine but not till we get more drill results back and till results are handed over to someone who can do a JORC compliant resource.
"how long will it take to get the heap leach process moving to generate cash flow. " ? - Don't hold your breath. They are only in the beginning stages of defining a resource at Wadaradoo East. They would have to continue drilling, defina a resource, then complete a feasability study then build the heap leach. I can't imagine this getting off the ground before Konkera does.
AMX Price at posting:
15.5¢ Sentiment: LT Buy Disclosure: Held
