In this alert, Special Counsel Peter Burge and Senior Associate
Luke Dawson comment on the changes to ASIC Information Sheet 214
"Mining and resources – Forward-looking statements"
(INFO 214).
While the re-released INFO 214 still reflects the fundamental
position that issuers must have a reasonable basis for making any
forward looking statements as to production targets, forecast
financial information or income-based valuations, the re-released
INFO 214 also has some notable differences from the first iteration
of INFO 214.
Mineral resource estimations
The re-leased INFO 214 clarifies that an issuer may make a
forward-looking statement on the basis of mineral resources
estimates if it has a reasonable basis for making them. An
important aspect of this is the issuer's consideration of the
JORC 'modifying factors'.
