Asset sheet

The format in which an asset reaches a table.

Fixed fields, a table by category, cut-off, effective date and a named technical lead: the mould that geologists and M&A analysts read every day. This page is the blank template, with no data from any asset.

A mineral asset is read in order: who holds the right, what the estimate says and by what criterion, who answers for it, and what is missing to move forward. When information arrives out of that order, or without a cut-off, an effective date and a named technical lead, the reader treats it as unreliable. The sheet below fixes the order and the fields.

Format template; no asset data. Every field appears as “—” with a description of what goes there. Nothing on this page is the tonnage, grade, title or study of a real asset, whether IncorpMine's or a third party's.

Identification and regulatory status#

The asset is identified by an internal code, never by name, and the mining right is placed on the asset ladder (see the ANM pathway). Data that identifies the holder is withheld until a confidentiality agreement is signed.

Asset sheet · blank template

Project: Internal asset code; the name is not disclosed before the confidentiality agreement.
Location: State (UF) and municipality.
Commodity(ies): Main and associated commodities as they appear in the mining process (e.g. rare earths, niobium, lithium, titanium).
Stage: Position on the asset ladder: exploration application, exploration permit (alvará), approved Final Exploration Report, mining application, mining concession (Portaria de lavra).
Deposit type: Geological type (e.g. ionic clay, carbonatite, kamafugite), since it drives sampling, metallurgy and the test required.
Mineral right: ANM process number, phase, holder and area in ha. Withheld until a confidentiality agreement.
Recorded encumbrances and agreements: Assignments, encumbrances, options and other acts recorded (averbação) at the ANM, with the date of each; an unrecorded purchase option is shown separately.
Environmental status: Preliminary (LP), Installation (LI) or Operating (LO) licence: the one in force, the one applied for, or “not started”.
Surface owner: Owner or holder of the surface, land registry entry and agreement with the surface owner (Mining Code, art. 27).

Mineral Resource and Ore Reserve estimate#

Resources and reserves always go in a table, never in prose: one row per category and one column per quantity. The cut-off and the effective date of the estimate sit beside the table, not in a footnote.

Template table of resources and reserves (no data)

Category	Tonnage (Mt)	Grade (e.g. TREO ppm, Nb2O5 %, Li2O %)	Contained metal	Cut-off
Measured	—	—	—	—
Indicated	—	—	—	—
Measured + Indicated	—	—	—	—
Inferred	—	—	—	—
Proved Reserve	—	—	—	—
Probable Reserve	—	—	—	—

Conventions: (1) an Inferred Resource is never added to Measured + Indicated without an explicit label, and the Measured + Indicated row is kept apart from Inferred; (2) reserves are never added to resources: an Ore Reserve is the economically mineable part of a Measured and/or Indicated Mineral Resource, defined by a pre-feasibility or feasibility study (JORC 2012, cl. 20 to 31, especially 29); (3) the cut-off is stated with its basis (grade or US$/t) and the test of reasonable prospects for eventual economic extraction (cl. 20), next to the effective date of the estimate; (4) units: Mt and kt for tonnage, ppm or % per payable element (TREO, Nb2O5, Li2O), always with the oxide or element stated; (5) categories from before the CRIRSCO regime (“measured/indicated/inferred reserve” in an old Final Exploration Report) are not equivalent to the categories in this table (ANM Resolution 94/2022, art. 4). For a third-party or historical estimate, the source, date and category-difference rules of ASX LR 5.11 and 5.12 apply.

Exploration Target#

Where there is no resource, potential is stated as an Exploration Target: a range of tonnes and a range of grade, never an isolated maximum grade. The cautionary statement goes in the same paragraph, not in a note: the target is conceptual in nature, exploration is insufficient to define a Mineral Resource, and it is uncertain that further exploration will result in a Mineral Resource (JORC 2012, cl. 17). The terms “Resource” and “Reserve” must not be used in this context. The sheet also gives the basis from which the ranges were derived and the schedule of work that would test them (holes, metres, assays, timing).

Technical responsibility#

An estimate with no named responsible person does not circulate. Under the CRIRSCO-family codes the person who answers is the Competent Person (JORC) or Qualified Person (NI 43-101, S-K 1300), and the ASX requires the announcement to name that person with employer and professional organisation (ASX LR 5.22).

Technical responsibility · blank template

Competent / Qualified Person: Full name; to be named in the report.
Employer and relationship: The person's employer and relationship to the asset holder (JORC 2012, cl. 9: disclose links and conflicts).
Professional organisation: Body of which the person is a member (e.g. AusIMM, AIG, a recognised organisation with disciplinary powers; CBRR Qualified Professional); to be named in the report.
Reporting code: JORC 2012, NI 43-101, S-K 1300 or the CBRR Guide, with the edition applied.
Effective date: Cut-off date of the estimate, distinct from the report's publication date.
No new information: When a published estimate is repeated: a statement that there is no new information that materially affects it, with a link to the original announcement or report.
Technical report: Title, date, author or consultancy, and number of pages.
Table 1: JORC Table 1 attached or linked (sections 1 to 4, “if not, why not” basis), or the equivalent instrument of the code applied.

Studies, metallurgy and infrastructure#

A scoping study (Scoping Study, PEA) does not support a Reserve; only a pre-feasibility (PFS) or feasibility (FS) study does (JORC 2012, cl. 29 and 38). The sheet records the level and date of the study, alongside what has been measured in metallurgy and the access conditions.

Studies and infrastructure · blank template

Studies: Level (scoping, PFS, FS), date and author; price assumptions, discount rate and date where there is an economic result.
Metallurgy: Tests carried out (scale, laboratory) and recovery obtained per payable element.
Mineralogy: Minerals hosting the elements of interest and grain size.
Access: Access routes to the asset and distance to the nearest paved road or railway.
Power: Source and distance to the nearest power grid.
Water: Available water source and status of the water permit.
Logistics: Export route and destination port or terminal.

Documents#

What goes into the data room follows a fixed index, so the reader knows what to ask for and what is missing. The rule is a single one: a dated list, with full title, applicable reporting code, author, number of pages and file size, linking to the source document and not to the news about it. Earlier versions stay archived.

Mining process: ANM status certificate, title and approved Final Exploration Report, where they exist.
Chain of title: recorded acts, options and encumbrances, with the land registry entry and the agreement with the surface owner.
Technical report and resource or reserve estimate, with Table 1 attached.
Base data: drill holes (collar, intervals, grades), sampling method, quality control and laboratory.
Scoping, pre-feasibility or feasibility studies, and metallurgical test work.
Environmental licensing: LP, LI or LO and the stage of the process.
Data room index: the dated list of all the items above.