Hi lionel,I'm not a geo, nor do I have any mining...

Hi lionel,

I'm not a geo, nor do I have any mining qualifications, but my thoughts on this are that the "mining inventory" is the "reserve".

Under the JORC code ore resources are clasified as measured, indicated and inferred, depending on the degree of confidence in continuity and grade, where measured is the most confident and inferred the least confident.

The JORC code says "reserve" is the economically mineable part of a Measured and/or Indicated mineral resource.

It also states that appropriate assessments and studies have been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction could be reasonably justified."

An Inferred mineral resource cannot be upgraded to reserve without additional geological definition and thus it is quite normal in the minerals industry that not all of the tonnage in a mineral resource becomes a mineral reserve.

It is my thought that the inventory is the proven reserve, and the rest of the indicated and inferred resource will require further infill drilling to upgrade it.

I think they are just keeping ahead of the game, so they continue to have ore supplies to place on the leach pads & will further prove up the resource as they go.

This is because we have used the initial pit up a bit quicker than first expected.

further info can be found here, if you need some weekend reading, lol

http://www.jorc.org/

cheers