PMRC Flashcards
The following stands for?
PMDIF
Philippine Minerals Development Institute Foundation
The following stands for?
COMP
Chamber of Mines of the Philippines
The following stands for?
PSE
Philippine Stock Exchange, Inc.
The following stands for?
DENR
Department of Envireoment and Natural Resources
The following stands for?
MGB
Mines and Geosciences Bureau
The following stands for?
PMRC
Philippine Mineral Reporting Code
The following stands for?
PRC
Professional Regulation Commission’s
The following stands for?
PABC
Philippines-Australia Business Council
The following stands for?
BOI
Board of Investments
The following stands for?
DTI
Department of Trade and Industry
The following stands for?
PSEM
Philippine society of Mining Engineers
The following stands for?
SMEP
Society of Metalurgical Engineers of the Philippines
The following stands for?
GSP
Geological Society of the Philippines
JORC
Joint Ore
Provides the guidelines on the Reporting for all deposit types except petroleum and gas
Philippine Mineral Reporting Code
what are the 3 main principles of PMRC
Transparency
Competence
Materiality
Report contains all relevant information for the readers to make reasoned and balance judgement of the Public Report
Materiality
sufficient information, clear and unambiguous presentation of data, not misleading to the readers of the “public Report”
Transparency
Public Report is based on work of competent persons
Competence
The resposibility of a public company thru its Board of Directors and based on info and supporting documentations prepared by competent Person(s)
Public Report
a member of PSEM, GSP or PSME, duly accredited by the professional organization to w/c he/she belongs or a ROPO included in the list promulgated as the need arises
Competent person
A competent must a ____ years of experience on a certain deposit
5
ROPO
Recognized Overseas Professional Organization
data, information and reports generated by exploration programmes that maybe of use to investors and/or their financial advisers
Exploration report
A concentration of materials of intrinsic economic interest in or on earth’s crust in such form, quality and quantity that there are reasonable prospect for eventual economic extraction
Mineral Resource
3 categories in order of increasing geological confidence
Inferred, Indicated, Measured
What are the 3 public reports
Exploration Results
Mineral Resource
Ore reserves
8 modifying factors
Mining
Metallurgical
Economic
Governmental
Environmental
Social
Legal
Marketing
tonnage, grade and mineral content can be estimated with a low level of confidence
Inferred Mineral Resource
based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and realibility
Inferred Mineral Resource
inferred from geological evidence, sampling and assumed but not verifies geological and/or grade continuity
Inferred Mineral Resource
tonnage, density, shape, physical characterisitics, grade and mineral content can be estimated with HIgh level of confidence
Measured Mineral Resource
based on detailed and reliable exploration, sampling and testing information gathered through appropriate technique from locations such as outcrops trenches pits workings and drill holes.
Measured Mineral Resource
location are spaced closely enough to confirm geological and grade continuity
Measured Mineral Resource
tonnage, densities, shape physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence.
Indicated mineral Resource
based on exploration, sampling and testing information gathered through appropriate techniques such as outcrops, trenches, pits workings and drill holes.
Indicated mineral Resource
Locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed
Indicated mineral Resource
