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Saturday, November 02, 2019 10:03:59 AM
Beth is absolutely correct (she always has been). There never was an NI 43-101 report drafted, filed or anything else for Medinah or Cerro Dorado. Anybody who says otherwise is either mistaken or lying.
Medinah and Cerro Dorado did have "geological reports" compiled for the properties by Robert Cinitas P.Geo of Howe Chile Limitada in 1999, 2000 and 2001. Additionally, Cerro Dorado and Medinah had a report prepared for the Lobo Solitario and Lipangue Breccia projects in 2006 by Tera Ex Engineering. These were NOT NI 43-101 geological reports. The companies contracted these 3rd party geology firms to explore the properties (not drilling or even sampling, just visual), review historical geological records and data and offer recommendations on how to proceed with exploration (at least in Howe's case).
These reports were never intended to be or categorized by the company as NI 43-101. There is a structure, requirements and protocols and filings necessary for NI 43-101 - the first and primary being that the company has to be a Canadian filer listed on the TSX, which neither were. In one of the shareholder meetings Greg Chapin had mentioned the NI 43-101 being one of the company's goals - which shareholders lapped up being naive to the process, time and expense involved in such an endeavor. Additionally, if either company had an NI 43-101, it would've been pumped endlessly on the website and in PRs. In fact, when the company publicized a resource estimate of how much mineralization was at LDM, I e-mailed them and told them that they were not permitted to publicize resource estimations without either an NI 43-101 (if TSX), Industry Guide 7 (if SEC-filing) or JORC (if Australian) and that the company could get in legal/regulatory trouble by doing so. They stopped doing so after that.
And FYI, the geological reports are still available online for anyone who has the gumption to perform a proper search. And there was nothing diabolical about Kevin Tupper (or Maurizio) removing the reports from the website - they were 20 years old. The websites were updated and got rid of all old updates, PRs and such earlier than 2016.
There is a wide swath of subjects to be outraged by these companies. Is it really necessary to fabricate new ones?
Medinah and Cerro Dorado did have "geological reports" compiled for the properties by Robert Cinitas P.Geo of Howe Chile Limitada in 1999, 2000 and 2001. Additionally, Cerro Dorado and Medinah had a report prepared for the Lobo Solitario and Lipangue Breccia projects in 2006 by Tera Ex Engineering. These were NOT NI 43-101 geological reports. The companies contracted these 3rd party geology firms to explore the properties (not drilling or even sampling, just visual), review historical geological records and data and offer recommendations on how to proceed with exploration (at least in Howe's case).
These reports were never intended to be or categorized by the company as NI 43-101. There is a structure, requirements and protocols and filings necessary for NI 43-101 - the first and primary being that the company has to be a Canadian filer listed on the TSX, which neither were. In one of the shareholder meetings Greg Chapin had mentioned the NI 43-101 being one of the company's goals - which shareholders lapped up being naive to the process, time and expense involved in such an endeavor. Additionally, if either company had an NI 43-101, it would've been pumped endlessly on the website and in PRs. In fact, when the company publicized a resource estimate of how much mineralization was at LDM, I e-mailed them and told them that they were not permitted to publicize resource estimations without either an NI 43-101 (if TSX), Industry Guide 7 (if SEC-filing) or JORC (if Australian) and that the company could get in legal/regulatory trouble by doing so. They stopped doing so after that.
And FYI, the geological reports are still available online for anyone who has the gumption to perform a proper search. And there was nothing diabolical about Kevin Tupper (or Maurizio) removing the reports from the website - they were 20 years old. The websites were updated and got rid of all old updates, PRs and such earlier than 2016.
There is a wide swath of subjects to be outraged by these companies. Is it really necessary to fabricate new ones?
