Ann: Funding Update, page-22

There are many view points/reasons for producing a JORC statement or not on any resource. The JORC validates the ‘economic validity’ or otherwise of the said deposit.
A JORC statement can equally destroy the economic potential of a marginal grade deposit which is not what any m’ment want to know or hear for obvious reasons.
Assay data shows SAN Jorge to be marginal at best and relies on the current Ni price holding at present levels and hopefully increasing.
Any small drop in the Ni price would seriously jeopardise this whole DSO operation imo.
AVQ’s own risk statements clearly alert the market to the fact that the current projected material extraction, shipping and processing costs MAY NOT net a profit to AVQ at the end of this exercise. Clearly ASIC are aware of and share this sentiment.
So IMO, perhaps the JORC statement has not been pursued due to a potentially unfavourable outcome. An outcome that would also have a devastating affect on the Company across the board.
With a JORC compliant statement San Jorge would not be a series of if’s, but’s and maybe’s re its commercial viability. A JORC statement would put to rest all the uncertainty that hangs over San Jorge’s economic potential and the Company future.
So I ask myself, ‘Why would a Company not pursue a JORC statement if it was confident of the outcome’?
As all here suggest DYOR.