Brookmount Exploration Inc (BMXI)

[Aquahoya]

It seems to me they are underway with this process ->

$BMXI The gold mineralized vein structure at the Talawaan mine is demonstrating “world-class” gold grades, with a current cumulative average grade of raw gold yielding 1.22 oz/ton. With a conservative strike length of over 800m, an estimated mineralized width of 1.5m and to a…

— Brookmount Gold (@brookmountgold) June 5, 2024

Looks like that is the reason for the explorations, sampling, third party testing with qualified personnel. I think their purpose is to write up a technical report that will also be placed together with the audit.

Clearly, they have been mentioning it in their messaging. So, time will tell. Probably why you are here. To flip and hold long term.

From ChatGPT:

A public mining company must follow specific steps to ensure compliance with JORC or NI 43-101 standards and to qualify their mineral resource and reserve estimates. Here’s an overview of the process:

Steps to Qualify Mineral Resources and Reserves:
Engage Qualified Personnel:

Qualified Person (QP): For NI 43-101, a Qualified Person (QP) is required to supervise the preparation of technical reports. A QP must have at least five years of relevant experience and must be a member in good standing of a recognized professional organization.
Competent Person (CP): For JORC, a Competent Person (CP) is needed, who must have at least five years of experience relevant to the style of mineralization and type of deposit under consideration and must be a member of a recognized professional organization.
Data Collection and Verification:

Exploration: Conduct exploration activities to gather geological, geochemical, and geophysical data.
Sampling and Assays: Perform sampling and assaying to determine the grade and composition of the mineralization.
Quality Assurance/Quality Control (QA/QC): Implement QA/QC procedures to ensure the reliability of data.
Resource Estimation:

Geological Modeling: Create a geological model of the deposit based on collected data.
Estimation Techniques: Use appropriate estimation techniques (e.g., geostatistical methods) to estimate the quantity and quality of the mineral resource.
Classification: Classify the resource according to levels of confidence (Measured, Indicated, Inferred for JORC; Measured, Indicated, Inferred for NI 43-101).
Technical Report Preparation:

Content: Prepare a detailed technical report that includes a summary of exploration data, resource estimates, methodologies used, and relevant interpretations.
Format: Ensure the report adheres to the required format and guidelines set by JORC or NI 43-101.
Public Disclosure:

Filing and Reporting: File the technical report with the relevant securities regulators (e.g., Canadian Securities Administrators for NI 43-101).
Continuous Disclosure: Maintain continuous disclosure obligations by updating resource and reserve estimates and filing updated reports as new information becomes available.
Audit and Review:

Third-Party Audits: Consider having third-party audits or peer reviews of the resource estimates and technical reports to enhance credibility and ensure compliance.
Ensuring Compliance:
Training and Professional Development: Ensure that QPs and CPs remain updated with the latest standards and best practices through ongoing training and professional development.
Internal Controls: Implement strong internal controls and review procedures to verify compliance with reporting standards.
Regulatory Liaison: Maintain communication with relevant regulatory bodies to stay informed about changes in reporting requirements and ensure ongoing compliance.
By following these steps, a public mining company can ensure that their mineral resource and reserve estimates are compliant with JORC or NI 43-101 standards, thus enhancing the reliability and credibility of their public disclosures.