Replies to post #1675 on Mining Company research board

[1manband]

You are wrong about this, and now I know why. From your reply it is very clear you don't understand NI 43-101.

NI 43-101 is not about, in your words, industry standards and guidelines. This is the number one misunderstanding about NI 43-101, especially among penny stock investors. It has zero to do with "appropriate spacing for their intended resource calculation" or any other specific exploration work. NONE of that is part of NI 43-101. Instead, NI 43-101 is only about disclosure. The entire regulation only covers how a mineral exploration or mining company discloses and reports information to the public and to Canadian regulators. That is it. It is a REPORTING AND DISCLOSURE STANDARD and nothing else.

The QP, the QA/QC, and the things you mentioned are industry standards. They are required under ALL national standards, including JORC, Industry Guide 7 and NI 43-101, as "Industry Best Practices Guidelines". So, let's use your example of consortium members. The specific scope of the work, and how it is done, is the same under all regimes. If one member is a US company, they are required to use Industry Guide 7 in how they REPORT and PRESENT that information to the public and to regulators (i.e., the SEC). If one member is Canadian, they use NI 43-101 in how they report to the public and Canadian regulators. And so on. BUT THE WORK AND HOW IT IS PERFORMED IS THE SAME UNDER EVERY STANDARD!

As I said above, they certainly can ensure that they are following standards, protocols, guidelines, etc. that are within their control and are not subject to CSA bureaucracy.

That is BS. The standards are the same. To claim they are "NI 43-101 compliant" is fraudulent, as the key to NI 43-101 is that it must be reported and reviewed by CSA regulators. Which they cannot do. It is NOT a "widely accepted industry standard" as it only applies to Canadian companies. But that is a very common claim by penny stock frauds.

Here is the current version of NI 43-101 in its entirety. Notice there is nothing in the regulation about the work. It is all about disclosure.

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