For mining or exploration companies, production targets (i.e. projections or forecasts of the amount of minerals to be extracted from mining tenements for periods that extend past the current and forthcoming year), forecast financial information, and income-based valuations are forward-looking statements because they comprise, or are based on, statements about future matters.
The test for determining whether reasonable grounds exist is the same for each: see ASC v McLeod.
Production targets and forecast financial information have a predictive nature because:
production targets predict future mineral production
forecast financial information generally predicts capital and operational costs and attaches net present discounted dollar values.
You should therefore only make these statements if you have reasonable grounds for the underlying assumptions supporting the production target or forecast financial information.
I just grabbed the relevant bit for you, without flow rates they don't have reasonable ground to forecast, I told you many times call the company have a chat or be patient.
APC Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held