Australia's largest stock trading and investment forum Australia's #1 stock forum

SUM

Click for more information

2.44%

20.0¢ summit minerals limited

Its not poor practice if they explain how & why. I think Rockj...

First 31 Last

Share
Profile

Follow
punkey69

303 Posts.

64

20/06/24

18:33

Post #: 74413421
Share

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.

Expand

Its not poor practice if they explain how & why.

I think Rockj should gather up his 4 posts & rack off!

SUM Price at posting: 50.0¢ Sentiment: Hold Disclosure: Held
18 Upvote

0 Great analysis

Reply

Top Stories

AZL

Brine and shine: Arizona Lithium wins early stage eco approval to commence wellpad #2 at Prairie

BOE

$550 million Jabiluka uranium offer comes unstuck as Government rules lease won't be renewed

PAM

PAM secures high-grade Chilean copper play in strong territory

IVZ

Invictus banks US$5M from Zimbabwean investment fund in support of Cabora Bassa

BIO

Biome unveils three year revenue target up to $85M – but are 3Y targets enough to excite?

There are more pages in this discussion • 159 more messages in this thread...

First 31 Last

Add SUM (ASX) to my watchlist

(20min delay)
Last 20.0¢		Change -0.005(2.44%)		Mkt cap ! $14.37M

Open	High	Low	Value	Volume
21.0¢	21.0¢	19.0¢	$107.0K	539.9K

Buyers (Bids)

No.	Vol.	Price($)
8	184555	19.5¢

Sellers (Offers)

Price($)	Vol.	No.
20.0¢	29821	2

View Market Depth

No.	Vol.	Price($)
7	164555	0.195
5	848447	0.190
2	383300	0.185
4	385555	0.180
4	221000	0.175

Price($)	Vol.	No.
0.200	29821	2
0.205	37000	4
0.210	21964	3
0.215	19305	3
0.220	51560	4

Last trade - 16.10pm 29/07/2024 (20 minute delay)

SUM (ASX) Chart