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22:35
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Originally posted by Scarpa
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Hi @apjkm, I re-read the Ann and I'll take out this appropriate paragraphs in italics below."..............Resource estimation work completed by previous owners of the Kibali South Gold Project between 2009 and 2011 was assessed in 2014 by Coffey South Africa, a reputable global resource consultancy to be sufficient to quote a Mineral Resource under the South African Code for the reporting of Exploration Results, Mineral Resources and Mineral Reserves (the SAMREC Code) 2007 Edition amended July 2009. The SAMREC code uses similar categories as the JORC code so can be considered on a similar basis to the categories used by the JORC Code. The mineral resource over the Kibali South Gold Project has been calculated as 28.1Mt at an average grade of 1.63g/t of gold for 1.47 million ounces at a 0.5g/t cut-off, all of which is in the Inferred Category. These estimates are considered historical and foreign and are not reported in line with the JORC (2012) Code. A Competent Person has not done sufficient work to classify these estimates under the JORC (2012) Code. It is uncertain that following further work that the historical and foreign estimates will be able to be reported as mineral resource in accordance with the JORC (2012) Code. Further details are to be found in JORC Table 1 in the Appendix of this announcement. ................" No records provided to VEC " in the following areas of the JORC Code:"The competent person considers there is uncertainty about the mitigating measures to ensure no contamination, recovery or sample integrity." (i.e. I presume here they have insufficient documented evidence from those doing the initial drilling that the sampling techniques ticked all the required boxes.)
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Thanks @Scarpa you are the man with this type of stuff
By the way , you can mention the names of other stocks on this thread , AVZ I'm thinking ! All grown ups on this thread that understand the difference between ramping and using another stock for comparison !
