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nammuldi

3,370 Posts.

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30/03/15

14:17

Post #: 15004929
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Originally posted by redrockgeo ↑

That's where JORC compliant and ASX reporting is meant to be effective. But the employees at the ASX who screen announcements are given companies alphabetically instead of by 'expertise'. So you might have an accountant screening drilling results and interpretations which are just rubbish. As for rockchip resullts, no one reports representative results since usually only the 'best' samples are collected so they are a biased sample-set. But muppets (from investors all the way up to company directors) see 10 iron ore assays at >50% Fe and think there's 10 billion tonnes of the stuff when all it is is a mineralised lightening strike that's been selectively sampled.

The junior to medium sized resource companies are so painfully unsuccessful at finding and monetising assets it amazes me each time I get out of bed in the morning the sector hasn't been shutdown.

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Many a time I would get the little jibe by the miners and engineers "Have you found any gold today?" and it took some time but I found the reply eventually which tended to shut them up - "how much gold have you guys lost today?"
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