Internationally Recognised Reporting Codes
Our product line covers authoring and reviewing mandates with specific focus on reporting of Mineral Resources and Ore Reserves for publication in technical studies and public domain documentation published in accordance with regulatory reporting requirements. SRK’s principal products include compliant technical reports in support of equity market filings for the majority of international stock exchanges and include: Competent Persons’ Reports; Mineral Experts’ Reports; National Instrument 43-101 Technical Reports; and Supplemental Information Forms. In addition, we prepare tailored input for inclusion in listed Company’s ongoing reporting requirements such as annual report sections and technical supplements.
The approach adopted for reporting of Mineral Resources and Ore Reserves at SRK follows the guiding principles of competency, transparency and materiality as adopted by all internationally recognised reporting codes (“IRRC”) which have been aligned with the Combined Reserves International Reporting Standards Committee (“CRIRSCO”) template: JORC Code (2012); CIM Definition Standards (2014); Chile Certification Code (2004); SAMREC Code (2007); SME Guide (2014); and PERC (2013). Where required we also align our reporting with specific requirements such as Industry Guide 7 adopted by the Securities Exchange Commission of the United States of America. IRRC compliance in respect of competency (Competent Persons/Qualified Persons) is assured through SRK’s direct consultant and associate network all of whom are members of recognised overseas professional organisations (“ROPO”) with a defined Code of Ethics (“CoE”).
On a technical level we ensure that reporting is both balanced and accurate, which ensures that statements appropriately reflect the development stage of the mineral asset. Mineral Resource reporting combines the “potentially economically mineable” test as well as establishing a transparent foundation for Ore Reserves and identification of upside potential. All Ore Reserve declarations are supplemented by appropriate technical studies and completed on a multi-disciplinary basis to provide appropriate assurances in respect of technical feasibility and economic viability.
In facilitating the ongoing process of expanding applicable IRRCs, SRK’s consultants are also directly involved in the various initiatives for alignment of state approved reserve classification systems, such as those currently practised in the Commonwealth of Independent States, with the CRIRSCO template.
Testimony to our experience in this regard is the association of our brand name with regulatory filings in support of numerous initial and secondary public offerings in the international equity markets, as well as the publication of feasibility studies completed to bankable standards. Historical mandates include the reporting of Mineral Resources and Ore Reserves:
- for the entire suite of bulk commodities, base metals, precious metals, gemstones, industrial minerals and the energy sectors;
- for mineral assets located in the majority of geographic regions;
- derived from translated state approved reserve classification systems without recourse to fundamental recalculation from source data; and
- on all major international exchanges: the Alternative Investment Market (“AIM”); the ALTx exchange; the Australian Stock Exchange; the Hong Kong Stock Exchange; the Johannesburg Stock Exchange; the London Stock Exchange; the New York Stock Exchange; the Toronto Stock Exchange; and the Toronto Ventures Exchange.