KAT Exploration Inc (KATX)

[falon]

Ore Reserves - The fisherman’s view


http://www.pwc.com/en_GX/gx/mining/school-of-mines/pdf/basics-of-mining-accounting-canada.pdf



Proven Developed

The fish is in the boat – you have
weighed it and will keep it for dinner


Proven undeveloped

The fish is on the hook and you can
see it but it is still in the water, where
they always look bigger


Probable

There are fish in the lake – you have
had some bites, have seen them
jumping and heard of others catching
them, but have not caught any yet


Measured and Indicated

You saw something disturb the
surface of the lake – it looked like a
fish


Inferred

There is lake in the distance….