We developed CPRs for this onshore license in accordance with guidelines set down by London Stock Exchange’s Alternative Investment Market and the Johannesburg Stock Exchange ; a separate CPR for each exchange was prepared. The reports set out the resources associated with the license. The technical evaluation primarily consisted of developing an independent assessment of gravity and magnetic data which had recently be acquired by the license operator. In addition to this, the license, a mature exploration property, was valued using the discounted cash flow methodology. Our assessment included an independent evaluation of the Chance of Success associated with the proposed exploration program.
The Client included the CPRs in his annual submissions to AIM and the JSE. The work included developing tentative Field Development Plans based on the success case associated with the risked recoverable resources.