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?

For more information:

• The Use and Abuse of Metal Equivalents (2019) Rose, S and Fahey, G. Mining Geology 2019 conference.
• Contact Ian Glacken - Optiro Director of Geology: [email protected]