In this episode of Fresh Thinking by Snowden Optiro, our General Manager Tarrant Elkington is joined by our Principal Consultant Matt Walker to explore what really goes into ASX announcements of Mineral Resource Estimates (MREs).

They discuss the minimum reporting requirements under the JORC Code, the role of the Competent Person, and common red flags to watch for - such as unconstrained estimates, overuse of superlatives, and misleading imagery.

Whether you're a geologist, mining professional, or investor, this episode offers practical insights into how MREs are prepared, reported, and interpreted - it will help you to... read between the lines!

This podcast at a glance:

00:04 – Introduction and episode focus – MREs in ASX announcements
01:14 – Guest introduction: Matt Walker and his experience with MREs
01:47 – Minimum requirements for reporting an MRE under JORC Code
03:08 – ASX Listing Rules and mandatory disclosure elements
05:00 – Continuous disclosure and minimum vs best practice
06:23 – When and why MREs are announced
08:12 – Red flags and what geologists look for in MREs
10:10 – Peer comparisons, competent person styles, and report 'fingerprints'
11:00 – Internal vs external resource reporting
13:00 – Importance of resource constraint and economic extraction
15:05 – Reading resource classifications and visual representations
17:18 – Use of gram-metres and understanding deposit width
18:03 – Why classification matters – insights from the Parker Challenge
19:31 – Interpolation vs extrapolation in block models
21:00 – Classification confidence and converting to reserves
22:00 – Wrap-up and final thoughts If you would like to contact Tarrant or Matt: contact(at)snowdenoptiro.com

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This audio podcast is also available as a free YouTube podcast: https://youtu.be/mRu7ufdck78

Snowden Optiro is a resources consulting and advisory group that provides independent advice, consulting and training to mining and exploration companies, their advisors and investors.

We help mine developers to advance their projects, mining companies to improve their operations and their professionals, and investors to de-risk their investments by the provision of quality advice, training and software in the field of Mineral Resources and Mineral/Ore Reserves.

Find out more at: https://snowdenoptiro.com
Prodessional Development courses: https://snowdenoptiro.com/professional-development/