This is the website of the South African Minerals Code. This is the organisation that ensures that when mining companies publish results or announcements on exploration or valuations of assets (gold, platinum etc.) still in the ground they have to use the SAM Code to ensure transparency and consistency. In other words, when an exploration mining company (or in fact any mining stock) refers to inferred or measured gold in the ground what do they actually mean? Well a quick look at the SAM Code will help you understand what they mean.
Further protecting the investor is the fact that this code is a part of the JSE listing requirements, so listed companies have to comply with the code. In fact, it goes a step further in that the company needs to use a registered ‘competent’ person to do the study and then SAM Code reviews the information before it is published.
So the bottom line is that if you’re interested in understanding mining company jargon (and this is a must if you intend to invest in these stocks), head over to the website and you’ll understand all what they are saying.