T4PClearly this is something that you are quite passionate about...

T4P

Clearly this is something that you are quite passionate about and I am unlikely to do justice to your fervour in what is intended to be my last word on the subject, for fear that I am seen as being overly defensive of a stock in which I currently have no position (intersting to note how few on this thread actually do!)

If your issue as you say is indeed with the ASX and the JORC Committee then I would respectfully suggest that you are quite entitled to raise the matter with them (I don't think they read HC). It is my understanding that the JORC Code is merely a tool for the ASX to rely on and the JORC Committee really has little ultimate power to regulate; that IS the ASX's job.

Don't however be surprised if & when you receive a response that it may reflect an Orwellian component suggesting that some "pigs / qualified people" are indeed "more equal / qualified than others" when it comes to reporting standards and scrutiny. Such subjectivity is understandable (if perhaps "questionable") when dealing with different companies & personalities on such inexact matters. As Havingfun has pointed out there is also a much more mooted market response to such resource statements these days, when compared to the climate of ~2 years ago.

You do make some good points about the information which is lacking in the IVA reports (e.g drill spacings, interpolation etc) but I am inclined to be a little less skeptical about the detail which exists, given that they have been working on the project since 2003 and have spent I believe close to $50M on drilling in getting to this point.

In terms of the likelihood of ultimate economic extraction, I think the point has already been adequately made on this thread that such low grade, potential underground operations may have their work cut out, but I really do think that it is too early to write off IVA's chances of replicating their success in Mongolia. Time will tell. If they do it will provide a tremendous boon to the NW Qld region where the current larger operations such as Mt Isa and Ernest Henry are clearly waning quickly.

For my last word here I would like to wish all the Cloncurry-based Cu plays (e.g. IVA, CDU, EXS, URL) well as I don't see it as a competition. The world is likely to need all the Cu that these companies can ultimately provide.