Part of the reason for not yet having a JORC is quite simply...

Part of the reason for not yet having a JORC is quite simply because MEU has been able to raise capital via the Junior Mineral Exploration Incentive (JMEI) whereby participants get an exploration tax credit of 25% of the funds subscribed for. Its a cash rebate so if MEU raises capital at 2c, investors get 0.5c cash back. it's a very smart way to raise capital.

Once a company defines a JORC, they are no longer eligible for this.

A JORC will be forthcoming but as long as they can raise money via this avenue, there is no need to rush it.