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Disclosure checks

Selective reporting

Every drilling, resource and cash-flow announcement is checked against what the ASX itself focuses on when it reviews exploration results. A flag is not an accusation - it's a question worth asking before you invest.

Balance of reporting is unclear

Appendix 2 tabulates holes with nil results ('No Significant Intersection'), and the 105 Tropicana holes match the stated program count. However, the body text lists selected better intersections only. Beamish South's text says 110 holes for 15,707m were completed, but only 74 are tabulated. Section 2 for Kings Plains says results have not been comprehensively reported. Our 60-row table keeps the best intervals, so lower-grade NSW and Moolart results are not listed here.

RRL: Biannual Exploration Update - 2 Nov 2026
Results look selectively reported

Only best or significant intercepts are listed. No nil or low results, no hole-by-hole list, and no hole count for the reported results, against 133 holes drilled. The Orion South Western Lode has high-grade intersections with no grades given. Interval rules are stated only for Lexington and Orion South.

CMM: Quarterly Activities/Appendix 5B Cash Flow Report - 29 Oct 2026
Results look selectively reported

Only three holes are named (CCM-91, CCM-92, CCM-94), and the text says 'significant intercepts included', which signals a selection. CCM-93 appears in the numbering but is not mentioned, and there is no statement on whether it had a significant result. Holes drilled, nil results, cut-off and internal dilution are not given.

SFR: September 2026 Quarterly Report - 27 Oct 2026
Results look selectively reported

The text quotes 6 Lexington, 3 Hornet and 4 Orion South highlights. The tables list only holes with significant intercepts, with no nil holes and no hole depths. The release does not say which holes are new, so the 88 holes drilled this quarter (plus 45 at Orion South) cannot be matched to the roughly 170 holes in the tables. Low-grade and nil results are not summarised.

CMM: Further High-Grade Results at Lexington - 26 Oct 2026
Balance of reporting is unclear

The tables list 65 holes, including two holes with no significant intercept (DUG26056 and DUG26065), and include lower-grade intervals, which helps. However, the number of holes drilled in the batch is not stated, and grade-control drilling of about 18,000m at Galaxy and about 19,000m at Dalgaranga is not reported hole by hole. The text highlights the best intervals, so the typical result across the program cannot be judged.

RMS: September 2026 Quarterly Activities Report - 26 Oct 2026
Results look selectively reported

Northparkes tables list nil holes for E26, E51 and Major Tom, but the 31 Monzonite Stock Contact holes without significant assays are not listed; the company says this is in line with the broad nature of discovery drilling. Northparkes primary intervals use a 0.3% Cu cut-off with bulking of up to 20m, and the minimum intercept length was cut from 20m in earlier releases to 10m, which allows longer and more numerous intervals. Cowal gives four holes with no nil results and no total hole count, while saying all available discovery results are reported. Ernest Henry is a single hole. This list is capped at 60 rows, so 11 short Northparkes intervals of 10-16m at about 0.3% Cu are not listed.

EVN: Discovery and exploration - 15 Sep 2026
Balance of reporting is unclear

Only one headline interval is shown, with no count of holes drilled or reported and no low or nil results. It cannot be told whether this represents the wider program. The full release may cover this, but it is not in this document.

EVN: 2026 Investor Briefing Presentations - 15 Sep 2026
Results look selectively reported

No holes drilled or reported counts, no nil or low results, and no cut-off grade are given. The Garden Well figure highlights intersections outside the existing mine. Reporting is therefore selective.

RRL: Appendix 4E and Annual Report 2026 - 21 Aug 2026
Balance of reporting is unclear

Main-text highlights are the best intervals. The appendix tables carry many lower-grade and wide intervals, which helps balance. The announcement does not state how many holes were reported against the 297 holes drilled across programmes, and does not list nil results. Holes with prior reporting are not flagged.

CMM: Quarterly Activities/Appendix 5B Cash Flow Report - 31 Jul 2026
Results look selectively reported

Results are given as highlights only. For Yaoure proximal, 35 holes were drilled and 3 highlighted; for Waste Dump Extension, 56 holes and 5 highlighted; for Papara, 18 holes and 4 highlighted; for Ifugandi, 15 holes assayed and 4 highlighted. Nil and low results are not listed, and holes drilled are not reported for every program. The release notes weak to moderate grades at Yaoure proximal, but does not list the weaker holes.

PRU: PRU June 2026 Quarter Report - 30 Jul 2026
10 of 11 holes reported

10 of 11 holes reported - the rest are not reported or explained. The announcement says seven Saturn holes were drilled but the table shows six. Nil results appear for two Penny West holes (RPWDD058, RPWDD060) but no Saturn holes are shown as nil. Figure 6 labels intervals not in Appendix 2 and shows holes with assays pending, which are not counted. Long intervals of 19.3m, 22m and 26.1m are reported with dilution rules that are described differently in two places.

RMS: March 2026 Quarterly Report and AISC Guidance Update - 29 Apr 2026

What DrillScore checks

  • Missing tables. A company reporting exploration results for a material project must include a drill-hole table (locations and intercepts) and sections 1 and 2 of JORC Table 1. JORC Table 1 explained
  • Metal equivalents. The ASX's position is that equivalents aren't appropriate without metallurgical recovery information - with none given, it assumes 100% recovery. Metal equivalents explained
  • Cherry-picking. Reporting only selected results breaches the JORC requirement for balanced reporting of low and high grades. DrillScore compares holes drilled with holes reported. Balanced reporting
  • Visual estimates. The ASX discourages estimating mineralisation from visual inspection alone. Visual estimates
  • Smearing. When one rich metre supplies most of a long interval's gram-metres. Smearing and the nugget effect
  • Money. Fewer than 2 quarters of funding, or a raise that adds 15%+ more shares. Cash runway and raisings

General information only - not financial advice. DrillScore's analyses are produced automatically by an AI model (Claude, by Anthropic) from the company's own ASX announcement and public market data, and scored by a fixed formula (how it works). They can be wrong or incomplete, don't consider your objectives or circumstances, and are not a recommendation to buy, sell or hold anything. Always read the original announcement and consider advice from a licensed adviser.

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