Ann: Resource Drilling Recommences at Bald Hill Mine, page-47

Thank you for your analysis luanboo.

Just would like to add a point to differentiate between resource and reserves.
As of the last resource update, BH has 26.5 Mt resources and 11.3 Mt reserves.




The current life of mine is calculated from the 11.3Mt reserves and divide by the plant throughput of 1.2Mt/year.

I would think the main focus of the next phase of drilling program, is to do more infill drilling, and to convert the resources to the reserves and thus to increase the life of mine. This is stated in the announcement today.
"80% of the drilling for the first three months will be infill drilling to allow further engineering, leading to potential increases to Reserves and mine life"

The majority of that will be infill drilling and the remaining exploratory drilling is not that much. Hence I would expect a significant increase in the reserve and mine life, however the room for increasing the resources in the next update may be limited.