This website is for general information purposes only. Neither this website nor the information contained in it constitute an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This website may not be accessed or distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Website visitors should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This website does not constitute financial product advice and has been prepared without taking into account the recipients’ investment objectives, financial circumstances or particular needs, and the opinions and recommendations in this website are not intended to represent recommendations to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate.
All securities transactions involve risks which include, among others, the risk of adverse or unanticipated market, financial or political developments.
Certain statements contained in this website, including information as to the future financial or operating performance of Parkway Minerals NL (‘Parkway Minerals’ or ‘the Company’) and its projects and technologies, are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Parkway Minerals, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements, and may include, among other things, statements regarding targets, estimates and assumptions in respect of potash and phosphate production and prices, operating costs and results, capital expenditures, ore reserves and mineral resources and anticipated grades and recovery rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions including the satisfactory performance of certain technologies developed and/or acquired by Parkway Minerals. Parkway Minerals disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‘estimate’, ‘may’, ‘will’, ‘schedule’ and other, similar expressions identify forward-looking statements. All forward-looking statements made in this website are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty therein. Many known and unknown factors could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such factors include but are not limited to: competition; mineral prices; ability to meet additional funding requirements; exploration, development and operating risks; new technology related risks; uninsurable risks; uncertainties inherent in ore reserve and resource estimates; dependence on third-party smelting facilities; factors associated with foreign operations and related regulatory risks; environmental regulation and liability; currency risks; effects of inflation on results of operations; factors relating to title to properties; native title and Aboriginal heritage issues; dependence on key personnel, and share price volatility. They also include unanticipated and unusual events, many of which it is beyond the Company’s ability to control or predict.
DINNER HILL RESOURCE STATEMENT
Information in the website that relates to the Mineral Resource estimate for Dinner Hill is fully described in the ASX release of 26 September 2017. The Company is not aware of any new information or data that materially affects the information included in this website. All material assumptions and technical parameters underpinning the Mineral Resource estimates and Exploration Target in this website continue to apply and have not materially changed. The K-Max Scoping Study referred to in this website was fully described in the ASX release of 10 January 2013, while the Phosphate Scoping Study was released on 19 September 2013 and updated on 30 September 2015. Both are based on low-level technical and economic assessments and are insufficient to support an estimation of Ore Reserves, provide assurance of an economic development case at this stage or provide certainty that the conclusions of the Scoping Study will be realised. All material assumptions and technical parameters used in the Scoping Study and included in this website continue to apply and have not materially changed. Parkway Minerals has concluded that it has a reasonable basis for including the forward-looking statements provided in this website.
Competent persons’ statements
The information in this report that relates to the estimation of Exploration Targets and Mineral Resources is based on and fairly represents information and supporting documentation prepared by J.J.G. Doepel, a member of the Australasian Institute of Mining and Metallurgy. Mr Doepel, principal geologist of the independent consultancy Continental Resource Management Pty Ltd, has sufficient experience relevant to the style of mineralisation and type of deposit under consideration. He is qualified as a Competent Person, as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. This report is issued with Mr Doepel’s consent as to the form and context in which the Mineral Resource appears. The information in this report that relates to reporting of Exploration Results is based on and fairly represents information and supporting documentation prepared by James Guy, a member of the Australian Institute of Mining and Metallurgy. Mr Guy is a consultant to the mineral industry and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration. He is qualified as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Guy consents to the inclusion in this report of the matters based on information in the form and context in which it appears. The metallurgical information in this report is based on and fairly represents information and supporting documentation compiled by Gary Johnson, a Member of the Australasian Institute of Mining and Metallurgy. Mr Johnson has sufficient experience relevant to the activity being undertaken to qualify as a Competent Person as defined in the 20012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Johnson is managing director of Strategic Metallurgy Pty Ltd. This report is issued with Mr Johnson’s consent as to the form and context in which the results appear.
KARINGA LAKES POTASH PROJECT (KLPP) – RESOURCE DESCRIPTION
On 20 February 2014, Verdant Minerals reported an in-situ SOP resource (in accordance with the 2012 JORC Code) for the Karinga Lakes Potash Project (KLPP). The 2014 resource is calculated using total porosity (total brine content) of the host rock. Subsequent to this resource estimate, in April 2019, the reporting requirements for brine resources under JORC have been updated, with a new set of requirements, which have been outlined in an AMEC (Association of Mining and Exploration Companies) publication titled, Guidelines for Resource and Reservice Estimation of Brines.
The updated brine reporting guidelines can be downloaded from the AMEC website:
The guidelines recommend the use of drainable porosity of the host rock (brine content that can be drained by gravity). The 2014 resource is not consistent with the new guidelines in this regard. Revision of the resource estimate to be consistent with the guidelines will result in a reduction of the total reported resource. The 2014 resource estimate is comparable to other brine potash resources reported in accordance with the JORC Code 2012, that are calculated based on total porosity. During the transition to the new guidelines it has been common for companies to report both estimates calculated on total porosity and calculated on Drainable Porosity.
Detailed hydrogeological studies at the KLPP have been based on significant datasets including drill hole, trench, production tests and monitoring data over several years provide confidence in the project. In collaboration with CPC’s joint venture partner Verdant Minerals, the KLPP joint venture will determine an appropriate work program, (as part of a feasibility study) to revise the resource estimate for the KLPP. As a result, investors are cautioned not to make investment decisions based on the presently reported and publicly available mineral resource for the KLPP.