CLASSIFICATION OF MINERAL RESOURCES

(Commodity Prices)

No activity or exploration activity MRE Mineral Resource Estimation

Operating period
FS, ESIA, SEA, EPCM and Commissioning Beginning and ending of the operation

Reasonable prospects for eventual economic extraction

MRE
Update
ACTIVE
MINING
YEAR
PROJECT
1- Year
2-Years Average
Commodity Prices

MRE

MINING
PROJECT

3- Years Average

MRE
??, ?
ONGOING
DRILLING
PROGRAM
5- or 10-Years Average

MRE

LONG-TERM
3 5 10
MINING
PROJECT
Forward-looking Price Predictions
3-, 5- or 10 Years Average

Note: In a rising and falling market, these methods alone may not be the solution.
CLASSIFICATION OF MINERAL RESOURCES

(Commodity Prices)
CLASSIFICATION OF MINERAL RESOURCES

(Commodity Prices)