This is interesting, people are talking about inferred resources, as if under the old rules. By the 43-101 instrument, it is doubtful if you can even refer to an inferred resource legally anymore. This policy statement is in print that it is for now verboten. This is because there is no definition for how to infer it. You cannot even refer to a report as a technical report unless it is qualified as such by a 43-101 status person. And it appears that this person has to be beyond arm's length as far as content of the report goes, and must be recognized by the provincial engineering society where the company issues shares. Whether he has to be an engineer is a matter of debate at present.
So far it appears that comapanies are not perfectly in line with this policy and many company statements and websites may have to change. I have made statements that Roxmark's resources are one million ounces. In fact, much of this is an inferred resource (one third or more?), albeit from some kind of sampling at certain centres. Nevertheless, without further geological qualification as to the source of the figures, the numbers must now drop back to where an indicated resource or reserve can be talked about safely under 43-101 rules. On this I have no handle at present.
In the old days, one could extrapolate ore for the purposes of share issuance by previous mining, on ebing on strike and adjacent, or relatively few drill holes -- if your track record and reputation was good enough, and it was a mining district of note. Today that pathway is much less clear. Does this make mines that much harder to finance? Will it chase companies offshore to foreign exchanges? Amex and London exchanges seem to think so as they were wooing comapanies with attractive listing requirements at the PDAC. Other than the cash per share requirement, the 50 million capitalization requirement for an Amex listing is actually not that stringent for a lot of companies. And that requirement takes precedence over the cash per share. Amex is a lot more robust market than any Canadian exchange.
There is a small private exchange in London, I keep forgetting the name, Ferguson, or Jenkins ltd. You can list a company there for 25K cash. Looks like an alternative. No stock support there though unless you do something about that yourself.
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