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Who's the comment to Rickster?
‘Wardell Armstrong International has undertaken site visits and audited the Monchetundra drill core storage at the warehouse owned and managed by CKE, the quality assurance and quality control procedures and the work done by Gipronickel, CKE and other professional contractors of Eurasia.
EMR (Engineering of Mineral Resources) that has an excellent track record cross-referencing Russian reserves with reserves under the JORC Code is coordinating the DFS for the purposes of the Russian authorities.’
GLA
Just realised..... it's to me.....I'm green boxed :-) .
Seeing as I'm green boxed, could someone please ask our resident experts to explain what a 'competent person(s)' is and what experience or qualifications said person(s) havre to have to be able to produce a JORC code compliant report?.
Cheers.
A Competent Person must be a Member or Fellow of The Australasian Institute of Mining and Metallurgy, or of the Australian Institute of Geoscientists, or of a ‘Recognised Professional Organisation’.
A Competent Person must have a minimum of five years’ experience working with the style of mineralisation or type of deposit under consideration and relevant to the activity which that person is undertaking.
https://jorc.org/competent/
GLA
· Wardell Armstrong International engaged in April for several comprehensive tasks including JORC resource audits which are almost complete and are expected to be announced shortly
"Several compr
"Several comprehensive tasks including JORC“. Does that mean they are expecting to announce the other tasks' results? Didn't see any punctuation in the statement to suggest otherwise.
Ian, aside from my 'every day for the next two years' selection; could you put me down for tomorrow please?. :-)
The full JORC Code, 2012 Edition can be found here. https://www.jorc.org
Pdf link in the middle of the page.
@bill. Regarding the delay I remember from another investment that there is an element of independent validation to the sampling. This was the main cause of delays on the other project. Overstretched + backlog due to covid lock downs.
Page 26
"Verification of
sampling and
assaying: The verification of significant intersections by either independent or alternative company personnel."
ATB LB
There seems to be some misunderstanding of what JORC is or what value it has to EUA.
JORC is a system of reporting on reserves and resources just as the Russian system does.
It's not about getting a JORC report, it's about what that report says in terms of what EUA has because JORC (like the Russian system) has different levels of reporting reserves and resources and, dependant on what level they achieve, their relative value.
Resources are reported as inferred, indicated or measured and reserves are either probable or proven and the value chain starts at an inferred resource and ending at a proven reserve.
How you go from one level up to the next etc depends on the level of knowledge of what is in the ground and the more drilling results you have and the closer the spacing of the drill intervals the better that knowledge is.
Having AP's results with nothing else isn't going to give you anything of value in terms of reporting.
The main thing you need to have any idea of economic viability of a project is the grades giving g/t and you get that from drill core samples.
If it's an inferred Russian resource it will be an inferred JORC resource.
Rickster is probably ******ed.
Once we have a jorc audit we have the right to buy the additional 25% of the JV, making us instantly more valuable.
It is also an independent report that’s internationally recognised. At the moment only a small proportion of our resources have been independently verified. That’s about to change, and with it, our share price.
Evening MrY considerations as below
Christian Schaffalitzky, Executive Chairman commented: "The Directors are delighted that professional institutional investors offered to support Eurasia's fundamentals and its strategic options, as we continue to develop the Company including the upcoming acquisitions of Nyud, Moroshkovoe and other significant Rosgeo JV PGM and battery metals open pit deposits. Furthermore, while our board and management continue to be significant shareholders, the Directors are confident that the Private Placement will further strengthen Eurasia's negotiating position."
GLA
Thanks CAW1.
A little more information regarding it all wouldn't go amiss.
Agree but it is what it is and I am sure the bod are frustrated that nothing significant can be said yet.
GLA
MrYFronts
Whilst happy to agree with much more f what you said I also think it important to point out that there is not actually that much difference between JORC standards and Russian standards, so n fact I have read that Russian standards are higher and more conservative……..
Make of that what you will.
MrY
Isn’t that what we are all waiting for?
I think most people here understand what a report means.
Money or no money!
Don’t really have a clue what you are talking about on that post
Please enlighten me
Don’t want a row but it didn’t make a lot of sense.
Please repost and help me out
All the best
Ouz