I am amazed that you still don't get it!
To have a Mine, you need Ore
To be called Ore, the dirt has to be minable at a profit ~ Calling something a Resource only states that the dirt has minerals in it.
Every cubic Km of sea water has a ton of Gold in it, how's that for a Resource? Yet nobody in their right mind is looking at mining it! Why, because it would not be economic.
If Tim and is team are going to be able to show that the dirt at Makuuta is minable at a profit without neglecting the ESG costs; they had better pull their fingers out, they don't have five months before the new JORC code is enacted: Your last post would certainly pass the points 3,4 and 5 test (below)
JORC review highlights key concerns (clayton Utz)
A broad spectrum of exploration and mining project activities has been assessed throughout the review process. The scrutiny of IPO documents and exploration reports to feasibility studies and production announcements, has revealed several areas of concern that may require amendment. These areas include:
- Competent Person:Instances where companies failed to nominate a Competent Person or the use of professionals who lacked the adequate eligibility criteria to be a Competent Person. A Competent Person within the definition in JORC must entail membership with AIG or AusIMM, or recognition by a reputable overseas professional organisation;
- Industrial Minerals Characterisation:Notable gaps were identified in resource announcements, particularly in describing the physical characteristics of industrial minerals. Precise and comprehensive characterisation remains important for transparent reporting;
- Metal Reporting Integrity:Reporting containing metal values without corresponding details on tonnes and grade which may hinder accurate assessment and understanding by investors;
- Metal Equivalent Values Clarification:Reporting of metal equivalent values without explaining the methodology used for equivalence estimation raises concerns over clarity and comparability; and
- Feasibility Study Disclosure:Certain feasibility study announcements, combined with resource information, metallurgical process specifics, and project economics, have lacked a description of the intended resource extraction approach. This omission does not allow an understanding of project viability.
(20min delay)