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informativeation

439 Posts.

79

15/11/23

21:53

Post #: 70925795
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Originally posted by informativeation: ↑

Yep, they have to be.

While they can still easily stuff up the Reserve, it is always founded on the basis of a MRE.

For every failure in delivery of a Mining Reserve in WA over the past 30 years could almost be attributed to the original MRE. The exception would be on metallurgical and recovery assumptions but that also gets covered off to a certain extent during the Resource estimate process.

JORC compliance is a minimum standard, it’s not best practice.

Gold companies that succeed apply best practice while always ensuring compliance.

If you just want to achieve the bare minimum standard to achieve compliance, your house is built on a river of sand.

Every future looking statement in gold mining is based upon the premise that the foundation MRE is sound.

My suggestion is that if you want to do even an elementary interrogation of a companies forward looking statements (especially the financials), you need look no further than the MRE.

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And the illustrious CPAs will tell us after the fact how successful (or not) you have been

CAI Price at posting: 17.5¢ Sentiment: Sell Disclosure: Held
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