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Saturday, May 1, 2010

Exploration for and evaluation of mineral resources

Exploration for and evaluation of mineral resources refers to the search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.

Source: IFRS 6 Exploration for and Evaluation of Mineral Resources.