Comments on the JORC 2012 Code

This area of our blog is provided in the interest of gathering comments on the new Code.  We all know what it says, but there are lots of issues and opinions emerging from it – some good, though the not so good may be outweighing the good.

What are your impressions?  For example:

1.       Appendix 1 – is there a better way of having App 1 available, other than attaching it to each and every resource-related ASX released?

2.       Why require that defined terms such as “Ore Reserve” and “Mineral Resource” be in capital letters if the requirement is not enforced?

3.       If Inferred Resources cannot be included in scoping studies, how does JORC 2012 sit with the VALMIN Code when the valuer is required to present an “upside case” or “upper end of the range”?

4.       More generally, how do Inferred Resources sit in a project evaluation in the case where there is only a scoping study in existence?

5.       What sort of experience have you had with the regulators requiring edits to ASX releases which you have had a hand in drafting?

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