BC6 In the Board's view, even though no IFRS has addressed extractive activities directly, all IFRSs (including International Accounting Standards and Interpretations) are applicable to entities engaged in the exploration for and evaluation of mineral resources that make an unreserved statement of compliance with IFRSs in accordance with IAS 1 Presentation of Financial Statements. Consequently, each IFRS must be applied by all such entities. [In April 2024 the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements and carried over the requirements about fair presentation and compliance with IFRS Accounting Standards in IAS 1 Presentation of Financial Statements to IAS 8 Basis of Preparation of Financial Statements.]
BC7 Some respondents to ED 6 encouraged the Board to develop standards for other stages in the process of exploring for and evaluating mineral resources, including pre‑exploration activities (ie activities preceding the exploration for and evaluation of m
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