The current version of the JORC Code was issued in 2004 and since that date the Australian Stock Exchange, in collaboration with JORC, has issued a number of companies’ updates to provide guidance on various reporting issues. An interim review will be undertaken during 2009 to meld these updates with the current 2004 Code. This will be followed by a full review during 2010 covering all aspects of the Code and focusing particular attention on:
• clauses / guidelines relating to Exploration Results, exploration targets and the reporting of historical estimates;
• issues relating to the Public Report, including definition, level of disclosure and mandatory requirements; guidance on techniques to quantify resource / reserve estimation uncertainty;
• the level of study required to convert Mineral Resources to Ore Reserves, and disclosure of prices and economic factors;
• expansion of the requirements for reporting of marketable material for bulk commodities;
• the use of language and tone that anticipates new and emerging technologies and techniques for the qualitative and quantitative measurements of data; and
• linkages to valuation and the valuation code (The VALMIN Code).