Join SRK's David Slater as he presents 'Navigating the updated JORC Code: Essential Insights for Explorers' on day 3 of the conference, at 11:15 am.
Abstract:
This latest update is now in final review feedback and approval by parent bodies and then to ASX for a recommendation for Ministerial approval, so SRK expects imminent release hopefully in the first half of 2025, however with the potential for a Federal election in Australia this may result in further delays.
There are six (6) key changes being proposed in the draft of the JORC Code update.
1) Structure and Format
2) Competence and Responsibility
3) Reasonable Prospects
4) ESG
5) Risks – Opportunities and Threats
6) Reconciliation
In summary, the JORC Code is changing to increase transparency which is good news for the industry and investors. There will be an increased timeframe and up-front cost of compliance, particularly around ESG and documentation aspects so SRK recommends companies get in early to prepare and adopt the anticipated changes to limit time and costs associated with compliance to this update.
