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So will below allow us to report what the company finds as assets on out balance sheet?
National Instrument 43-101: An Overview for Investors
By: Christopher Rawluk in Geology Basics, Results and Analysis
Remember that a NI 43-101 compliant report is only that: A compliant report. It simply means that the rules for reporting on a property were followed.
Introduction
National Instrument (NI) 43-101 is a technical reporting standard developed by the Canadian Securities Administrators (CSA) that specifically applies to mineral projects. While it only applies to stocks traded on Canadian exchanges the standard is widely known, as more than 75% of the world’s mining companies are based in Canada.
NI 43-101 was first developed in the wake of the Bre-X Minerals scandal which rocked the mining industry in 1997. Bre-X had acquired property in Indonesia which quickly became a huge gold deposit. At its peak it was reported to contain 70 million ounces of gold and the company was valued at more than 4 billion dollars. The project was later exposed as a fraud: Billions made were lost. It had all the drama and intrigue of a Hollywood thriller, but most of all it severely eroded investor confidence in the mining industry.
A Reporting Standard is Born
Prior to the Bre-X scandal there were no standards in place for the reporting on mineral resource projects. There were no standards for the reporting of resources and reserves. There were no professional standards in place regulating the qualifications and practises of geologists. The industry and regulators realized that in order to re-establish public confidence in mineral and mining projects some changes would need to be made.
NI-43-101 is the culmination of those changes. While it is essentially a framework for the writing of reports, it incorporates standards a number of important standards:
Definition standards on mineral resources and mineral reserves
Estimation of mineral resources and mineral reserves best practice guidelines
Mineral exploration best practices guidelines
Standards and guideline for valuation of mineral properties
Guidelines for the reporting of diamond exploration results
Standards and requirements of a “Qualified Person”
Many of the standards which are incorporated into NI 43-101 were developed by other organizations and are maintained by those organizations. The Canadian Institute of Mining and Metallurgy (CIM) developed a number of the standards including those on the reporting of Resources and Reserves. The Canadian Council of Professional Geoscientists (CCPG) and their provincial member councils regulate the Professional Geoscientist (P.Geo) designation within Canada.
Since NI 43-101 is a reporting standard and not a report type, there are many types of reports that can be filed on a mining project which can be NI 43-101 complaint. For example, a compliant technical report may be filed for the purposes of defining a property of merit, reporting on exploration activities, or reporting on reserves and resources through prefeasibility and feasibility studies.
Qualified Persons
A report written to the NI 43-101 standard may serve a variety of purposes, but in order to qualify as NI 43-101 Compliant it must be written to the standard. Part of that standard is the qualification of the supervising author, or Qualified Person. Compliant reports must be written and filed with the consent of a Qualified Person who is defined as:
An engineer or geoscientist with at least five years of experience in mineral exploration, mine development or operation or mineral project assessment, or any combination of these;
has experience relevant to the subject matter of the mineral project and the technical report; and
is in good standing with a professional association and, in the case of a foreign association (is of recognised stature within that Organisation)
It is important to note that the Qualified Person cannot just be a qualified engineer or geoscientist, but must have experience relevant to the subject matter. This is where lines can get blurred sometimes. A Qualified Person should technically have 5 year’s experience on the deposit type or mineralization style being reported on, but there are many specializations within geology and many different stages of project development requiring different types of expertise. It is always a good idea to check the resumes of the players involved on a project.
I think we will get some movement in Jan, keep in mind people are taking profits and losses in this stock this month.
Bottom line well have a delayed reaction.
News Out...
US Precious Metals, Inc. (USPR) Provides Company Update
Print
NEW YORK, NY / ACCESSWIRE / December 11, 2014 / US Precious Metals, Inc.(USPR:OTCQB) provides the following operational update.
The Company is continuing its negotiations with Mesa Acquisitions Group, LLC (MAG) to restructure its existing mining development agreement. The parties have discussed the specifics of MAG commencing a 30,000 meter drilling campaign on our property sufficient to complete the National Instrument 43-101 compliant report. This endeavor contemplates a base camp for staff that supports 4 drilling rigs operating on two 12 hour shifts per days, 7 days per week.
Management has met with MAG on three separate occasions in the past 30 days and members from MAG have spent the last week in Mexico developing this plan. The Company expects documentation from MAG in the coming 7 to 10 days. The cost of this initial endeavor is estimated to be $10,000,000.
During the groundwork phase of the VERS study, the technicians covered roughly 300 acres of the 2,000 acres shot by satellite and provided a very in-depth report to the Company of the values. This consisted of 11 of the 71 anomalies reported to the company. The drilling campaign slotted to begin in January 2015, will focus primarily on these 2,000 acres.
Additionally, as previously reported, upon funding, the Company also intends to use satellite imaging to explore the remaining 35,000 acres. Unlike the initial satellite imaging program which isolated only gold anomalies, this proposed imaging program will identify gold, silver and copper anomalies. After lengthy discussions with the Ukrainian imaging company, the estimated cost for this entire image shoot will approximate $3 million, which compares with $5.8 million if performed in stages. They also have assured us that results will be received within 60 days from payment and the unrest in the Ukraine, which caused the excessive delays in receiving the initial results, will not impact our proposed program.
The cost of this imaging program will be paid by the Company. In this regard, Mr. Scott Hartman, board member and director of Mergers and Acquisitions for the Company, has facilitated term sheets from potential third party funders who have expressed interest in funding the drilling program if the Company for any reason doesn't conclude its drilling program funding with MAG.
Finally, given the current events and negotiations referenced above, the Company requested and received from Duane Morris, LLP a payment extension to December 19, 2014. Please refer to our Form 8-K filed on this date for more information concerning this matter.
For further information, visit the Company's website: www.usprgold.com.
This press release may contain certain "forward-looking statements" relating to the business of U.S. Precious Metals, Inc. and its subsidiary. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the Company's short term business and operations, the general ability of the Company to achieve its commercial objectives, the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "expects", "intended", or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's annual report of Form 10-K and its periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investment & Company Information
Contact:
Steve Chizzik
Investor relations
The Verrazano Group, LLC
+1(973) 232 5132
SOURCE: US Precious Metals, Inc.
Agree it's to give a boost to retail investor confidence.
I appreciate it but would like to see more buying.
Big News Out!
Milestone Scientific Announces Distribution Agreement for Epidural Instrument in China
Milestone China Agrees to Guaranteed Minimums Following CFDA Marketing Clearance
LIVINGSTON, NJ, December 11, 2014 -- Milestone Scientific Inc. (OTCQB: MLSS), a medical R&D company that designs, patents, incubates and commercializes a growing portfolio of innovative injection technologies, today announced that through its minority owned subsidiary, Milestone Medical, exclusive licensee of Milestone Scientific’s epidural and intra-articular instruments, it has entered into a distribution agreement with Milestone China for its epidural instrument. Milestone China will oversee sales and distribution of the instrument in China and other parts of Asia. Under the agreement, Milestone China has agreed to certain minimum purchases following CFDA marketing clearance as a condition of the distribution agreement. Year one minimum purchase is 250 instruments; year two is 550 instruments and year three is 750 instruments. CFDA marketing clearance can be sought only following FDA marketing clearance in the United States, which is not expected before mid-2015.
As previously announced, Milestone China is a joint venture distribution company between Milestone Scientific and a team headed by a senior healthcare executive from China. The focus of Milestone China is to supply and distribute medical and dental instruments, and disposables to China and other Asian markets. Lidong Zhang, Chief Executive Officer of Milestone China, previously held senior executive positions with leading healthcare distribution companies in China, including President of China National Medicines Corporation, Ltd. (CNMC), a billion dollar distributor of medical products in China. He also served as President of China National Pharmaceutical Logistics Co. Ltd, and Vice President of China National Bio-tech Group. He also served as Chairman of National Medicines Prospect Dentech (Beijing) Co. Ltd.
Lidong Zhang, Chief Executive Officer of Milestone China, commented, “We look forward to working closely with Milestone Scientific and Milestone Medical to introduce the epidural instrument across China. The number of annual epidural procedures is growing rapidly in China—but with that growth comes inherent risks associated with this procedure. Women in China and around the world suffer a wide array of complications with conventional epidurals – ranging from severe pain to wet tap to paraplegia and even death. We believe this instrument will not only be a commercial success, but will positively impact the lives of millions of women in China.”
In clinical studies, Milestone’s platform technology was able to reliably identify pressure characteristics of the different tissues, including the decrease in pressure in the epidural space. Practitioners using Milestone’s instrument correctly identified the epidural space 100 percent of the time (Gelber, Gebhard, et al. Regional Anesthesia and Pain Medicine, 33:4; 2008). Within seconds, the location of the needle can easily be determined, with lower pressures indicating the needle is in the correct location.
Leonard Osser, Chief Executive Officer of Milestone Scientific, added, "Milestone China is an ideal distribution partner, as the principals have extensive expertise and proven track records launching new medical devices in China. Moreover, they have committed to meaningful minimum purchases following CFDA marketing clearance, which further reinforces their confidence in the market for our instruments.”
About Milestone Scientific Inc.
Milestone Scientific Inc. is a leading medical research and development company that designs and patents innovative injection technology. Milestone's computer-controlled systems make injections precise, efficient, and virtually painless. For more information please visit our website: www.milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2013. The forward looking-statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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So you think because your down some money the CEO has to take your calls.
Lol, what a joke.
Positive news for sure thanks for posting.
Rehab
I'm buying more here as well at these bargain prices.
Can someone point me to pointofreturn or is he in the woods cookin up some moonshine as well!
Please fedex me a case. I need a drink.
What date it this from? Thanks for sharing.
He also said the TransEnterix was building fire walls on their side as well.
Furthermore I'm just the messenger, I don't agree with this at all.
Hargrove told me they are not and they are setting up fire walls.
I said a board member meaning a message board member said it (student of the game)
Find something new.....next
Call ir they will tell you.
Makes sense and Hargrove used the scoreboard line with me during our conversation as well. Thanks ORrep8, I have to agree with you there.
Thank you Daktari!
If I were Hargrove I wouldn't be in his situation.
I need to better understand why they released the new video the day before Thanksgiving with 2 hours to trade and why it wasn't released onto the news wires.
I think that's very fair don't you?
I would be calling the ir department first but they don't respond.
Are you contacting them on a daily basis? I contacted Hargrove today and would advise others do the same.
They have all day to announce it and someone on the board said they feel it would come by wed in the form of an 8k.
Everyone has a motive in life some. on the board make it crystal clear to other.
I think the new videos are impressive, do you know why it didn't get picked up by the news wires?
That would have gotten real interest, as Ive said prior the only people that are aware of this new info are the people already in the stock?
Also why not release this info next week when people aren't traveling.....very frustrating!
Will read over again. Thanks!
Thank you.
I hope they aren't telling us the machine is under 1mm but you now need two of them for certain procedures?
Any thoughts from the doctors?
Happy Thanksgiving!!
Hargrove is probably thinking Intutive knocked the site off line from all there spies!!!
Honestly no one knows about this video other than current shareholders yet.
We need to email Hargrove and tell him that it needs to be put this out as a press release and then next day get Points article out there.
This should be a big deal and is it confirmed to be a pig in the video as if it isn't there's another video out there.
Point I agree it looks like a shareholder email. Your article coupled simultaneously with a real pr would be the way to go IMHO.
Wait here it is released at 5pm
“Titan Medical Inc. as reported in the November 14th MD&A is now pursuing a broader set of surgical indications including general abdominal, gynecologic and urologic procedures for SPORT™ Surgical System. We continue to make significant progress with the SPORT™ Surgical System focusing on not only our number one objective of patient care, but also listening and responding to “voice of customer” needs, challenges and requirements.
See the attached link. , http://www.titanmedicalinc.com/investor-relations/sport-clips/
We hope you enjoy this video of our continued progress.”
Respectfully,
Titan Medical Inc.
www.titanmedicalinc.com
CUIN why not put this out as a press release? The only people that know about it are those of us on this Ihub board? I just don't get it?
These types of things are usually used to get new people in, now we have to hope that it's included in points new article?
I agree with that, have a happy holiday!! This is a winner in my eyes, it's just a matter of time.
Any pr person getting paid 20k a month should know a better way to put this out into the marketplace.
That's being said I'm glad the released, it the downside is I can't open it on the iPad and I have to go baste the bird!
The method of PR has to be more calculated.
Thanks??? They don't issue this as a press release and put it out on the day before thanksgiving with 2 hours left to trade???????
Big whoops!
Hargrove told me they were only approx 1 quarter behind on that. So basically on time as 2 or 3 months is nothing.
Does plasmification work on a 24 pound turkey?
Happy holiday to all!!!
Big things to come over the few months.....
Don't get stuffed.
Did you sell out and are now looking out to but back cheaper? Make me think and say Ole!!!
I don't think so doc.
Slick did you get in touch with JH?
100 percent