Medinah Minerals (MDMN)

[jetpilot1101]

NI 43-101 is a standard applicable to an issuer in Canada not someone who wants to become an issuer in Canada.

http://web.cim.org/standards/documents/Block484_Doc111.pdf

I suggest reading Part 4.

Here are the requirements to list on the TSX.

http://tmx.complinet.com/en/display/display_main.html?rbid=2072&element_id=29

Notice it says nothing about filing a NI 43-101 because that only happens once you are actually listed which is why the first link consistently uses the term "issuer" to define the company. They wouldn't use the term "issuer" if the company was planning on listing. A NI 43-101 ONLY applies to listed companies, not those who plan to list. The reason is obvious - curtail fraud.

I also find this part of the webage interesting:

- working capital of at least $2,000,000 and an appropriate capital structure; and

- net tangible assets of $3000000.

- Property Ownership—A company must hold or have a right to earn and maintain at least a 50% interest in the qualifying property. Companies holding less than a 50% interest, but not less than a 30% interest, in the qualifying property may be considered on an exceptional basis, based on programme size, stage of advancement of the property and strategic alliances. Where a company has less than a 100% interest in a qualifying property, the programme expenditure amounts attributable to the company will be determined based on its percentage ownership.

I guess this means it will have to be Auryn that lists on the TSX because MDMN won't retain a 50% interest in the property based on the option agreement. If this is correct, then it further proves my point that MDMN should never reference a NI 43-101.