A commentary on the reporting of coal exploration results, resources and reserves
Mining Engineering, 2019, Vol. 71, No. 7, pp. 18-18
This article addresses the prevalence of poor public reporting practices of coal exploration results, coal resources and coal reserves in southern Africa. Currently, the reporting of coal tonnage without supporting coal qualities or saleable tonnes and quality is a poor reporting practice that occurs far too often. Not all coal is equal — therefore it is extremely important that investors or potential investors are provided with the full details of both run-of-mine (ROM) and saleable coal tonnage, their associated qualities and other material and relevant information.
Competent or qualified persons should note that publicly reported information should be sufficient to enable an informed reader to make a reasonable and balanced assessment of the significance of the information provided. “Companies are encouraged to provide information in their public reports, which is as comprehensive as possible (CRIRSCO, 2013).” However, too often this isn’t the case, and material matters are either not reported or inadequately disclosed.
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