I have always applied 10% or more as being material to a business. Typical accounting usage, see below. If this means our increase in ore reserve is > 10% then this could be anything from 750,000oz upwards. Of course it could be possible we have increased the reserves through conversion of resources and therefore have added no ounces at all. However I think GOR means reserves and resources in total. My guess is around 30% increase on no basis whatsoever.
Financial statement items are material if they could influence the economic decisions of users. The materiality concept is the universally accepted accounting principle that reporting firms must disclose all such matters. Financial statement items are material if they could influence the economic decisions of users. The materiality threshold is defined as a percentage of that base. Most commonly percentages for example an amount <5% = immaterial, > 10% material.
Ann: Trading Halt, page-25
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