The Midwest Mining Conference investor presentation for GWR breaks down their reserves as follows:
Measured: 1.2 Million Tons
Indicated: 49.2 Million Tons
Inferred: 97.3 Million Tons
Later in the same presentation they talk about defining a proven and probable reserve of 60 Million Tons.
How do you translate industry-standard terminology like proven and probably reserves into the categories in the presentation of Measured, Indicated, and Inferred? For example, are Measured + Indicated reserves = Proven and Probable?
The other posts here are making valuation calculations based on 148 Million Tons, but that is a speculative number, not the proven reserve?
gwr reserves
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