CUB, Thanks for your helpful post distinguishing between resource and reserve, and giving directions to JORC. As a geologist friend of mine says, "if you're a junior explorer, you DON'T want to get offside with the JORC nazis!"
And speaking of enforceable rules, doesn't anyone believe in ASX LISTING RULE 3.1 (CONTINUOUS DISCLOSURE) always the major focus of ASX 'speeding tickets'):
'ONCE AN ENTITY IS OR BECOMES AWARE OF ANY INFORMATION CONCERNING IT THAT A REASONABLE PERSON WOULD EXPECT TO HAVE A MATERIAL EFFECT ON THE PRICE OR VALUE OF THE ENTITY'S SECURITIES, THE ENTITY MUST IMMEDIATELY TELL ASX THAT INFORMATION.'
What do you reckon?
?? Wouldn't a measured resource report meet the threshold of ASX Listing Rule 3.1 ??
?? Don't companies believe in/comply with Continuous Disclosure obligations ??
And the ASX is a devoted fan of JORC. See the address by ASX CEO Robert Elstone at an ASX JORC Seminar last year at http://www.asx.com.au/about/pdf/jorc_seminar_asx_ceo_opening_address_3may2007.pdf
CQT Price at posting:
0.0¢ Sentiment: None Disclosure: Held
