Have PRA actually stated an exploration target for this project? I can't find anything in their company releases or presentations that sets out their expectations for tonnes/grades.
There are however puff pieces (selective briefings?) from Resourcestocks and BGF Equities that contain quotes from PRA employees/board on expected tonnes, grade, contained ounces.
PRA needs to publicly announce their exploration target in line with the guidance contained in the JORC code. i.e. demonstrate how these estimates are being arrived at and state it publicly to ALL investors or potential investors.
http://www.jorc.org/pdf/jorc2004print_v2.pdf
"18. It is recognised that it is common practice for a company
to comment on and discuss its exploration in terms of
target size and type. Any such information relating to
exploration targets must be expressed so that it cannot
be misrepresented or misconstrued as an estimate of
Mineral Resources or Ore Reserves. The terms Resource(s)
or Reserve(s) must not be used in this context. Any
statement referring to potential quantity and grade of
the target must be expressed as ranges and must include
(1) a detailed explanation of the basis for the statement,
and (2) a proximate statement that the potential quantity
and grade is conceptual in nature, that there has been
insufficient exploration to define a Mineral Resource and
that it is uncertain if further exploration will result in the
determination of a Mineral Resource."
I don't hold this stock and I'm not trying to manipulate the SP with my carping from the sidelines. I do want to see PRA, and companies like them, lifting their game with their announcments - or lack of them! I wish all holders in this stock the best of luck and hopefully those assay results will be in soon and they'll be good.
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