CSA Global Manager of Corporate, Graham Jeffress was proud to have sponsored and presented on the JORC and VALMIN Codes at the RIU Sydney Resources Round-up Conference 2019 between 7-9 May, 2019 at the Sofitel Sydney Wentworth, Australia.
Download his latest presentation: JORC and VALMIN: Friend or Foe? Decoding investments and raising funds‘ or view the full video presentation here.
The Banking Royal Commission generated quite a few headlines recently, but 45 years ago it was the Rae Review into the Poseidon Nickel Boom and its spectacular bust that was grabbing headlines and political attention.
The findings from the Rae Review led to the mining industry creating JORC and VALMIN Codes to provide minimum standards for public reporting.
Both codes provide a unique advantage for mining stocks and for investors who need to quickly and confidently assess results and estimates.
Are the codes perfect? No? But they were developed by highly experienced people from the mining industry and not imposed by politicians and bureaucrats.
Unlike other speculative stocks on the market, such as cryptocurrency vendors, cannabis purveyors, drug companies or technology promoters, mining and exploration stocks have one clear advantage.
When companies talk about projects, there is an immediate understanding of the jargon used that investors can reasonably understand. For example, one doesn’t need to waste time explaining what a blockchain is every time a release is made – savvy investors understand the difference between a mineral resource and an ore reserve, and don’t need it spelt out everytime there is news.
Likewise for investors! There is a consistent approach to providing the key information one requires to make an investment decision; a way to compare projects, opportunities and news flow that is mostly absent from other investment types.
Sometimes, however, it doesn’t quite work like this in the real world, but the underpinning principles of the codes – materiality, transparency and competence – provide the means for investors to separate the wheat from the chaff.
Knowing how to read public reports prepared according to the JORC and VALMIN Codes allows the investor to better evaluate the technical skills of the company, their integrity and ethics, assess risks and spot opportunities.
ABOUT OUR PRESENTER
Graham is a geologist with more than 28 years’ experience in exploration and management in Australia, PNG and Indonesia. His broad experience across the mining sector underpins CSA Global’s specialist technical corporate services. He is responsible for a coordinating a vast pool of high calibre specialists in Australia and internationally. His role on the Joint Ore Reserves Committee (JORC) ensures he is very well informed in key regulatory matters. Graham manages small and large projects with our clients throughout Africa, the Middle East, Asia, Europe, the Americas, and Australasia. He works collaboratively with our international offices to ensure we get the right skill set for each role, which can be anything from initial high-level fatal flaw checks through comprehensive due diligence to independent technical reporting and valuation of large multiple project mining operations.