2 - Reasonable Prospects of Eventual Economic Extraction
Reporting the right information to investors is critical. The three main codes around the world that govern resource estimation and reporting to the market all contain references to RPEEE, or Reasonable Prospects of Eventual Economic Extraction. Optiro's Director of Geology Ian Glacken explains why the principle is critical to reporting resources.
In this episode:
0:48 What is RPEEE? 1:33 Why do we need to have RPEEE as part of all the reporting codes? 2:28 The codes are there to protect investors 3:19 What has changed from the versions of JORC 2004 to 2012? 4:28 RPEEE has also been controversial because of its inconsistent application 5:34 Why is the principal not being applied everywhere? 6:38 What is the approach for open pit mines for RPEEE? 7:45 How does RPEEE apply to underground mines? 8:56 Are there any differences between how the RPEEE has been applied in the JORC, SAMREC and CIM codes?
For more information:
JORC 2012 code - http://www.jorc.org/docs/JORC_code_2012.pdf SAMREC 2016 code - https://www.samcode.co.za/codes/category/8-reporting-codes?download=120:samrec CIM 2014 guidelines - https://www.cim.org/en/News-and-Events/News/2014/CIM-Definition-Standards-and-Guidance-updated