Screen a mining announcement against the reporting rules
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the draft announcement, list each exploration result, mineral resource, ore reserve, exploration target and production target, whether a competent person is named, whether that person's written consent is on the file, and whether a cautionary statement sits with an exploration target. Do not rewrite the announcement and do not sign a consent.
- What the lawyer must review
- The lawyer decides whether the announcement may be released. The ASX mining-reporting frequently asked questions state that a public report of exploration results, mineral resources or ore reserves is made under Listing Rules 5.7, 5.8 and 5.9 and the JORC Code 2012. An exploration target, under clause 17 of the JORC Code 2012, is expressed as a range, is accompanied by a cautionary statement of equal prominence, and is not reported as a headline. The report is issued only with the competent person's prior written consent. A production target is reported under Listing Rules 5.16 and 5.17, including the material assumptions. Where inferred mineral resources or an exploration target are included with ore reserves or with measured and indicated mineral resources, they must not be the determining factor in project viability. A production target based only on an inferred mineral resource must meet Listing Rule 5.16.6. The questions also discuss a transition that ended in 2013. Those dates are not current deadlines. The lawyer reads the current Chapter 5 and the JORC Code before the announcement goes out. This screen is not a continuous-disclosure decision under Listing Rule 3.1.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the draft announcement, list each exploration result, mineral resource, ore reserve, exploration target and production target, whether a competent person is named, whether that person's written consent is on the file, and whether a cautionary statement sits with an exploration target. Do not rewrite the announcement and do not sign a consent. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Place the exploration-target caution next to the figure, in the same prominence, and check the figure is a range and is not in the headline.
- Match each competent person named in the announcement to a written consent that covers that announcement.
- Confirm the lawyer has read the current Listing Rules before release, and that the tool has not rewritten the announcement.
Sources
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.