Understanding the mineral resource statement . . .
The mineral resource and ore reserve statement cannot include, by JORC regulations, the sum total of all the resource on Koolan.
The mineral resource and ore reserve statement can only report that part on Koolan that is accessable to mine.
The accessment must be done by a qualified and reponsible person.
According to JORC regulations, previous years figures cannot be automatically included . . . but must be re-accessed as being accessable to mine. Under JORC regulations if for some reason some of the resource is re-accessed as being inaccessable to mine then that amount must be reduced on the annual mineral resource and ore reserve statement. For example, when the seawall was breached the mineral resource statement reflected a reduction in that some of the previously stated resource had become inaccessable to mine.
There has been no such reduction in the current resource statement. All of the resource is accessable to mine.
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