Blythefan - good point.May I expand on your description of point...

Blythefan - good point.

May I expand on your description of point one to say that the JORC code considers the 'Inferred' category too low in confidence to be the basis of any meaningfull economic study. i.e should not be used to generate reserves.

The engineer's cashflow modelling cannot be the blame, as the data he was using was shaky at best. But I agree, he should not have signed them off - that was his professional reputation on the line.

Investors would do well to invest a little time and learn the basics of the JORC code. Some companies take advantage of investor ignorance with flashy 'scoping studies' that mean little.