Mineriver stands by claim of mine resources size

XINJIANG mining exploration firm Mineriver, in which mainboard-listed JES International is buying a 30 per cent stake, yesterday sought to dispel questions over the claim that it had 4.2 billion tonnes of resources in its mine.

Mineriver CEO Ho Sing Ming said SRK Consulting, which put together the Joint Ore Reserves Committee (JORC) report, was an established consultancy. "Technical reports (including JORC reports) issued by SRK have been accepted and recognised by many established stock exchanges as a means to verify the level of resources or reserves that mining companies claim to have in their IPOs on such established stock exchanges," he said.

JES had also released the JORC report on the Singapore Exchange (SGX).