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20.0¢ summit minerals limited

Finally someone said it. The Elephant in the room.Prepare for...

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Just4kicks

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20/06/24

18:31

Post #: 74413394
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Originally posted by rockyj: ↑

The ASX don't like it because it is not representative sampling and this is well overdue for a please explain...

From their announcement:
"...with the darker nodules separated out by hand and sent for assay."

IMHO they have artificially upgraded the results and the grades reported are what you would expect from sending almost pure columbite to the lab. There is no commentary on how much columbite/tantalite is within the host rock and therefore the sampling is not in any way representative and is completely misleading to investors.

Adding the commentary that this '...enables the company to more accurately identify the potential end grade..' is also complete garbage. There might be something good here but this is not how to report it to the market. The most important thing is what is the starting grade and the potential scale - not how high can we inflate the grades by hand cobbling the darker nodules!!!

This is very poor practice and reflects badly on the exploration sector - the exact reason why there is a reporting code and this is definitely not in keeping with the transparency, materiality and competency principles of the JORC Code.

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Finally someone said it. The Elephant in the room.
Prepare for the daggers to come your way.

SUM Price at posting: 50.0¢ Sentiment: None Disclosure: Not Held
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