Replies to post #2029 on Mining Company research board

[Dunphy777]

According to your logic, anyone can do a NI 41-103 report for any mining company and the company can post it on their web site. Anyone can say they are qualified and who will question them? Just don't tell the SEC about it. lol

[1manband]

Can you post a link to a single geological report published anywhere that is strictly in accordance to SEC Industry Guide 7 and NOT 43101??

Absolutely. There are plenty of them available, all by US companies who are required, by law, to use Industry Guide 7. Just look at EDGAR sometime. Contrary to public opinion on these message boards, the mineral extraction industry is older and has been operating for longer than National Instrument 43-101.

They do not pass judgement on what is contained in the report

Actually, they often do. The SEC engineering office is very busy commenting on the contents of these "reports". There are numerous SEC comment letters about that very subject. Try DGRI for one. Their bogus "NI 43-101 Report" was so bad, the SEC also made them remove it from their website in its entirety.

SEC doesnt recognize 43101 and TSX doesnt recognize Guide 7

Not true. The SEC does recognize NI 43-101 and permits Canadian incorporated companies who are SEC registrants to use NI 43-101 in their SEC filings as long as they are actually NI 43-101 compliant (i.e., filed on SEDAR) and they have the required specific disclaimers included. And, the TSX does recognize Industry Guide 7, but not too many US mineral companies are also reporting in Canada and providing only Industry Guide 7 reports.