Indocopper, have you ever asked the question about JORC Reserves? I did at AGM. While the answer is not the most palatable it goes something like this.
The project was fully supported by Platinum with finance to bring to production promised. This is in the archives.
Platinum did not require the money to be spent to bring the JORC Resource estimate to Reserves estimate. The estimate was done to an Indonesian standard (I cannot recall what it was)and that was all Platinum required.
Obviously the wheels have fallen off Platinum but it would now be a substantial investment to drill more holes and bring it up to JORC Reserve estimate standard.
As you know this does not mean that the coal is not there in the ground but the estimate is more exact.
Maybe you can fill us in on the Indonesian Standard and how this compares with JORC standard?
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