Ann: Scoping Study Reveals Exceptional Economics-Ngami Cu Project, page-42

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GKeden

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17/10/24

12:36

Post #: 76166311
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Originally posted by stahkS123: ↑

Cute. I'm a lawyer and other than a former colleague having been involved in a cap raise for CBE back when they only had the project in WA my only connection to the company is the small parcel of shares I've held for years.
Using the Guidance the ASX release specifically on Scoping Studies (Nov 2016) Scoping Studies do not require the use of JORCed Inferred Resources or Exploration Targets (for that matter). However, if a company chooses to use either in a Scoping Study, it must meet specific reporting requirements.
JORCed Inferred Resources are not required for Scoping Studies, as the study is meant to be a preliminary economic evaluation. The primary goal of a Scoping Study is to determine whether further, more detailed studies (Pre-Feasibility or Feasibility) are justified.
Scoping Studies can use Exploration Targets, but must include a cautionary statement emphasizing the conceptual nature of the target and the uncertainty of further exploration leading to Mineral Resources or the realization of the production target - See the cautionary language on the first page of the ASX release today from CBE. The company must also clearly disclose the factors supporting the reasonable basis for using the Exploration Target in the Scoping Study context.
While Scoping Studies may use Inferred Resources or Exploration Targets, they cannot be the sole basis for a production target or financial forecast.
The proportion of Inferred Resources or Exploration Targets used in the Scoping Study depends on the project's maturity. For example, a producing mine with a history of resource conversion may use a larger proportion than an exploration-stage project.
Any production target or financial forecast based on Inferred Resources or Exploration Targets must be accompanied by specific cautionary statements as outlined in Listing Rules 5.16 and 5.17.
All material assumptions related to the Scoping Study must be disclosed, including modifying factors, timeframe, funding, and resource sequencing. Failure to do so can lead to requests for further information from the ASX.
Hope that helps GKeden!

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Hello. I already posted the ASX guidelines. Do you believe all lawyers are inherently competent &/or ethical? Aren't you at least going to praise me for sensing you work or have worked for the company? Your post does not help me because my impression is you may possibly have misread the guidelines.
Last edited by GKeden: 17/10/24

CBE Price at posting: 8.5¢ Sentiment: None Disclosure: Not Held
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