Originally posted by Krum
I am amazed that Axiom is using the word “ore” and even more amazed ASX isn’t complaining and making them retract:
2012 JORC Code:
28. The words ‘ore’ and ‘reserves’ must not be used in describing Mineral Resource estimates as the terms imply technical feasibility and economic viability and are only appropriate when all relevant Modifying Factors have been considered. Reports and statements should continue to refer to the appropriate category or categories of Mineral Resources until technical feasibility and economic viability have been established. If re-evaluation indicates that the Ore Reserves are no longer viable, the Ore Reserves must be reclassified as Mineral Resources or removed from Mineral Resource/Ore Reserve statements.
In my view this is heavily misleading and illegal as all ASX listed mining companies must comply to JORC irrelevant whether they are exploring, developing or mining.
KRUM
A mineral deposit that contains enough minerals to be mined for profit is called an
ore.
Ores are
rocks while Bauxite is a mineral resource and therefore cannot be classified as an ore.
Hope that answers your complaint.
