MarcJ, not ramping BRM. Check my post history I am not a BRM...

MarcJ, not ramping BRM. Check my post history I am not a BRM investor either. Just highlighting the fact that there are plenty of speculative iron ore explorers out there with more credible management. I am making no recommendations to invest in something else, merely that caution should be in the minds of investors where I feel that risks have been understated by management and certain posters to take advantage of those less knowledgeable.

The JORC code prohibits reference to any deposit as a mineral resource unless it is JORC compliant. This is to prevent confusion for obvious reasons. Where a resource is historical in nature via drilling but not yet JORC compliant, it has to be explicitly qualified as such. You specifically mentioned that "we have a mineral resource", which implies to me that it is a JORC compliant resource or at worst a historical mineral resource, when in reality it is nothing but a target.

This has the potential to confuse those not familiar with the JORC code and that is why I thought best to highlight it. In order to get the resource to inferred status there is a lot of drilling to be done but to FMS' benefit, typically CID deposits are relatively continous to the boundaries of mineralisation. However there is still risk that the mineralisation ends earlier or starts deeper than management expect.

Cheers
UIO