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This paper puts the view that, for one gold deposit in Victoria at least, the Australasian Code for the Reporting of Identified Mineral Resources is severely deficient. The author questions whether or not the Code constrains the proper dissemination of information relevant to resource valuation. The author offers a view about the estimation of inferred resources, and provides data believed pertinent to the proper valuation of Ballarat Goldfields Ltd Ballarat East Project.