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re: you all getting itchy JORC - Joint Ore Reserves Committee

The Code sets minimum standards for public reporting in Australia and New Zealand of exploration results, mineral resources and ore reserves. It provides a mandatory system for classification of tonnage/grade estimates according to geological confidence and technical/economic considerations in reports prepared for the purposes of informing investors, potential investors and their advisors.

The Code requires public reports to be based on work undertaken by a competent person and the Code describes the qualifications and type of experience required to be a Competent Person.

The Code also provides extensive guidelines on the criteria to be considered when preparing reports on exploration results, mineral resources and ore reserves.

However the JORC Code does not regulate the procedures used by Competent Persons to estimate and classify mineral resources and ore reserves.

Nor does it regulate companies internal classification or reporting systems and JORC does not deal with breaches of the Code by: Companies which is the responsibility of the ASX, or by individuals as these are dealt with under the Code of Ethics of AusIMM, the Australian Institute of Geoscientists or the recently introduced recognised overseas professional organisations.