Interesting question as to why they only used half the resources -  only answer is because the other half won't make any money. No reason to not include resources that can be converted to reserves - that would be witholdoing material information. This is exactly why BGM stock is languishing - no one believes all resource ounces are economic. Also, keep in mind that a PEA can include inferred ounces in its reserve calculations - whereas a PFS or FS cannot (indicated only). There is always risk with inferred resources.  Would be interesting to know what proportions of the reserves in this PEA come from inferred resources.