288m shares in RND will be gifted plus the 8m TBR shares that...

288m shares in RND will be gifted plus the 8m TBR shares that some value as high as $6 on intrinsic value. But lets use the current low market cap prices, that equates to 18m for the 8m TBR's @ $2.25, and as you are giving 288m shares of RND, effectively 83.7% of RND in 288m shares + 56m shares on issue, new shares 344m so 288/344 = 83.7% of a current market cap of 23m = 19.2m so the current cost on the low ball market caps is 37.2m.

But what is a 2b tonne inferred resource actually. Well it's inferred, it is the lowest of all, i.e. not indicated and certainly not JORC and can easily be established, probably does not require a 2.5m spend and is highly subjective.

Evil prevails when good people do nothing!

a substantial holder needs to step up and start rattling cages, special resolution!

http://www.cim.org/committees/cimdefstds_dec11_05.pdf

below is extract from pg 4 on inferred resource definitions

Inferred Mineral Resource
An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.
Due to the uncertainty that may be attached to Inferred Mineral Resources, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Confidence in the estimate is insufficient to allow the meaningful application of technical and economic parameters or to enable an evaluation of economic viability worthy of public disclosure. Inferred Mineral Resources must be excluded from estimates forming the basis of feasibility or other economic studies.