Ep 111: Reading Between the Lines. Fresh Thinking by Snowden Optiro

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 🔔 Subscribe for more Fresh Thinking about the mining industry. 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/