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Jase76

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11/09/19

09:01

Post #: 40375172
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Originally posted by wombat777: ↑

@Anacott Steel ... responding to your query about the JORC versus Canadian NI 43-101:

https://hotcopper.com.au/posts/40372475/single

The situation is confusing since the asset is in Alaska, yet we are listed on the ASX so in principle the JORC applies. It is mostly Canadians doing the work.

This is the JORC code:

http://www.jorc.org/docs/JORC_code_2012.pdf

The JORC is based on primarily a Checklist Table ( Table 1 ). It's a simplistic approach. Whenever ASX-listed companies report exploration results they need to fill in Table 1 and provide with the announcement.

Canada on the other hand went very rigid and rigorous in their standards because of an exploration scandal. The NI 43-101 was developed.

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

NI 43-101 is supported by a prescribed format Technical Report. When resources and studies are developed to NI 43-101 that must be produced in this format and with this exact content structure.

https://www.servicenl.gov.nl.ca/securities/rulemaking/43_101f1.pdf

NVA have Canadians working for them and consulting for them, so they will be more familiar with NI 43-101. NI 43-101 is more rigorous in many regards than JORC ( although less rigorous when it comes to news releases ). Because of this much of the background work would have been to a very high standard. Hence it's surprising that the ASX seem to be taking so much time.

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I'm guessing that the ASX didn't like the title of the announcement which went something like this:
F#*c^*+! Enormous amount of Gold found at Estelle! #onlythebeginning #gold #Rerate #boom. Haha.
I think NVA is having trouble coming up with other words that describe this Ann like this!

NVA Price at posting: 6.0¢ Sentiment: Buy Disclosure: Held
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