The NI (short for National Instrument) 43-101 is a Canadian national instrument used for the Standards of Disclosure for Mineral Projects within the country. This is a codified set of rules and regulations used to report and exhibit information relating to mineral properties owned by, or explored by companies that report these findings on the nation’s stock exchanges.
The NI 43-101 came into existence in the wake of the notorious Bre-X scandal. It is meant to protect investors from potential scams of unsubstantiated mineral project disclosures. At the time the scandal was unearthed; Bre-X, the guilty company, owned close to a twelfth of the entire globe’s gold reserves at its Busang mine in Indonesia. This ran into something like 200 million ounces. The modus operandi of the Bre-X company was to inflate the price of its stocks by making announcements of the discovery of natural resources, which eventually turned out to be fabricated. The discovery of the scam brought the company crashing down.
Making scams difficult to happen:
This led to a series of corrective legislations within Canada on this area. The aim of the NI 43-101 is to prevent companies from making fraudulent claims of the kind Bre-X did. The NI 43-101 includes metalliferous, precious metals and solid energy commodities as well as bulk minerals, dimension stone, precious stones and mineral sands commodities.
Being a codified reporting scheme; the NI 43-101 ensures investors that the projects have been assessed in a scientific and professional manner, making it more difficult for fraud to occur. In a general and broad sense, the NI 43-101 is considered analogous to the JORC Code, which regulates the publication of mineral exploration reports on the Australian Stock Exchange (ASX). It is also likened to the South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC).
Learn the full details of the NI 43-101:
A full understanding of this standard will be the essence of a webinar that is being organized by Compliance4All, a leading provider of professional trainings for all areas of regulatory compliance. To know more about the content of the webinar and to enroll, please log on to http://www.compliance4all.com/control/w_product/~product_id=501014LIVE
The Expert at this webinar is Ricardo Valls, a professional geologist with three decades in the mining industry. He carries extensive geological, geochemical, and mining experience, managerial skills, and a solid background in research techniques, and training of technical personnel.
In offering an in-depth explanation of the NI 43-101; Valls will cover the following areas at this webinar:
o Structure of a report
o Tips for the main chapters
o General recommendations
o When do you need one
o Press Releases