The JORC Code Podcast Series

5 Key Issues In Reporting Resources

Ian Glacken – Executive Consultant, has put together a 5-part Fresh Thinking Podcast series that covers the key issues surrounding the reporting of resources.
These podcasts are free and available to everyone.

Fresh Thinking Podcast Episode 33:
RPEEE: is all hope lost?

Recent research undertaken by Optiro’s Director of Geology, Ian Glacken, shows there are a number of reports on resources being made to the market that are based on tenuous assumptions.
In this episode:
1:03 Is RPEEE hopeless?
2:08 What does ‘reasonable’ mean?
2:51 What about ‘eventual’ and ‘economic’?
4:16 Are we effectively defining ore reserves at the resource stage now?
6:03 What’s causing you to be less optimistic about RPEEE now?
9:27 We can see people sidestepping the rules – why are we seeing people get away with it?
11:29 We’re looking for a level playing field. What can we do to bring resource reporting in line with the code?
13:51 How can people get a hold of your paper that was presented at the conference?
LISTEN TO THIS FREE PODCAST
For more information:
The Highly Vexed Issue of Reasonable Prospects of Eventual Economic Extraction (RPEEE) – Narrowing the Range of Practice (2019), Glacken, Ian. Mining Geology 2019 conference.
Fresh Thinking Episode 2: RPEEE – why the principle is critical to reporting resources
Contact Ian Glacken – Executive Consultant: iglacken@snowdenoptiro.com

Fresh Thinking Podcast Episode 34:
Metal Equivalents: acceptable… if you follow the rules!

Reporting your resource using metal equivalents is acceptable practice, if you follow the rules. In this episode, the second in a mini-series about misinterpretation of the JORC code, Optiro’s Director of Geology Ian Glacken explains where miners are getting it wrong and potentially misreporting the value of their commodities.
In this episode:
0:58 What happens if a competent person misinterprets or misreports something to the market?
2:18 What is a metal equivalent and why are we talking about it in this context?
6:00 Metal equivalents aren’t necessarily a bad thing though right? Why should companies do it?
7:08 What is an NSR (Net Smelter Return) equivalent?
8:40 What are the rules for metal equivalents in the JORC code?
11:12 Why do we see abuses of the rules and then subsequent retractions in the market?
14:34 What should investors look out for in market releases?
16:08 Where can listeners get more information?
LISTEN TO THIS FREE PODCAST
For more information:
The Use and Abuse of Metal Equivalents (2019) Rose, S and Fahey, G. Mining Geology 2019 conference.
Contact Ian Glacken – Executive Consultant: ian.glacken@snowdenoptiro.com

Fresh Thinking Podcast Episode 35:
Table 1: obligations – misconceptions – protection

In this episode Optiro’s Director of Geology Ian Glacken talks about Table 1 of the JORC code: why it is there, misconceptions about it and how it can protect investors.
In this episode:
0:57 Table 1 and the ASX listing rules – what are your obligations?
1:45 What are the rules regarding Table 1 and when does it need to get completed?
2:27 “If not, why not?” – what does this mean?
3:50 If I have generated a mineral resource estimate, do I need to fill out Section 2 of Table 1?
5:50 What’s the relationship between Table 1 and the ASX listing rules?
8:39 What do you think the regulators want to see?
10:51 This is complicated. Does anyone actually look at Table 1?
12:35 Where should we look for more information on Table 1?
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For more information:
JORC Code
JORC Table 1: Just answer the question! (2016) Sterk, R. RSC Consulting Ltd
Contact Ian Glacken – Executive Consultant: ian.glacken@snowdenoptiro.com

Fresh Thinking Podcast Episode 36:
ASX Market Releases: what could possibly go wrong!

There are plenty of ways to get it wrong and having to retract your ASX market release is best avoided. Optiro’s Director of Geology Ian Glacken explains how to stay compliant to the rules in this fourth part in the mini-series on the JORC code.
In this episode:
1:16 What’s the general approach for resource and reserve market releases?
4:20 How does our process in Australia compare to the codes in other markets?
5:43 What sort of errors we do see with releases of exploration results?
9:01 What about the errors we see with the release of resource information?
10:27 There are many issues related to studies for ore reserve declarations, right?
12:55 What about the market comparisons companies make with their peers?
16:17 Where can you find out more about this?
LISTEN TO THIS FREE PODCAST
For more information:
JORC Code
Contact Ian Glacken – Executive Consultant: ian.glacken@snowdenoptiro.com

Fresh Thinking Podcast Episode 37:
Classifying Mineral Resources: The search for objectivity

The JORC code does many things, but it doesn’t prescribe how to consistently classify resources. Optiro’s Director of Geology, Ian Glacken explains some of the techniques available to ensure consistency in this fifth part of the mini-series on the JORC code.
In this episode:
1:22 When the JORC code is described as being principles-based, what does that mean?
3:16 So contrasting to other codes around the world, the JORC code is a good one, right?
4:33 Why can the JORC code be an issue for large companies?
5:39 What are some of the techniques for getting a more objective classification?
6:30 Is there a standard for objective resource classification? (90/15 rule)
11:16 Where can you get more information on this?
LISTEN TO THIS FREE PODCAST
For more information:
H M Parker and C E Dohm, 2014. Evolution of Mineral Resource Classification from 1980 to 2014 and Current Best Practice. Finex 2014 Julius Wernher Lecture
Contact Ian Glacken – Executive Consultant: ian.glacken@snowdenoptiro.com

Please use this LINK to access and listen to all of our Fresh Thinking Podcasts. There are 37 technical topics for you to listen to with all the speakers being well known experts in their field.