Great news paves the way !, page-10

Expendable
I don't disagree with you that there should be a sense of urgency about getting to the production stage - however, it is the metrics of the project i.e. NPV, IRR etc which gets the funders to the table and allows Russell some leverage in negotiations. The greater the JORC and metrics the more attractive it is.
Having said that, you are right that it takes time and money to JORC it up.
Its a difficult one that deserves careful consideration and I think Russell is up to the task