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The National Instrument 43-101 requires substantially more technical disclosure to the market than the equivalent JORC Code, because the JORC Code is primarily a code for reporting the status of a mineral resource, whereas NI 43-101 is a code of securities disclosure. This distinction is based on the derivation of the two codes: the JORC Code ...
There are several classification systems for the economic evaluation of mineral deposits worldwide. The most commonly used schemes base on the International Reporting Template, [1] developed by the CRIRSCO – Committee for Mineral Reserves International Reporting Standards, like the Australian Joint Ore Reserves Committee – JORC Code 2012, [2] the Pan-European Reserves & Resources Reporting ...
The comparisons with the JORC code are worthwhile, in my opinion, because the NI 43-101 and JORC Codes are, in practise, quite different beasts. It is also worth considering that the layperson is not actually well served by a 250 page report which is mandated to be published in full on the TSX-V by the company, at the behest of the CSA.
Classification and management of natural resources such as minerals and petroleum are classified using differing schemes. [4] [5] In 1997, UNECE published the United Nations Framework Classification for Reserves and Resources of Solid Fuels and Mineral Commodities (UNFC-1997) as a unifying international system for classifying solid minerals and fuels. [6]
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The JORC [5] Code was first published in 1989, with the guidelines published in 1990. During the 1990s, it became clear that the evaluation of mineral deposits should be based on an internationally recognised code of reporting in order to improve the security of investments in this economic sector (e.g. Bre-X case).
The Codes are incorporated into Section 12 of the Johannesburg Stock Exchange (JSE) Listings Rules, which detail "the criteria for the listing of, and the additional disclosure requirements for Mineral Companies and, in certain circumstances, substantial mineral assets of non-Mineral Companies" [1] in South Africa. As such, the SSC acts in an ...
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