RE: RE: resource/reserve Curvature:
glad to hear from you.
You & i are as similar as two peas in a pod....we both have/had mining properties which involved the salting of drill core or assays.....New Cinch in your case ( per your post) & Bre-x in mine.
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this may be of interest .....New Cinch, the stock was slapped with a cease-trade order by British Columbia in 1990 and delisted by the Vancouver Exchange the same year. That cease-trade order remains in effect today, so it suggests there is no current value. (ref. allexperts.com)
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Bre-X was a spectacular market phenomenon, rising from about 50 cents in January 1994
to a spectacular $280 (on a pre-split calculation) in early September, 1996. The curtain
came down on it in May, 1997 when it was delisted. Really, the party ended when
geologist Mike de Guzman took a header out of the helicopter over Busang in March,
’97. (ref. paragraph eleven of "running with the bulls)
to view complete article, google straight talk on mining no 21
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it was the Bre-x Minerals fiasco that caused the creation of the NI43-101.
.
note the following
(1) CIM Mineral Property Valuation Committee (CIMVal)
.
In January 1999, following the Bre-X "gold salting" fiasco, the Mining Standards Task Force of the Toronto Stock Exchange and the Ontario Securities Commission recommended that the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) establish a committee to review and advise on approaches and methodologies for the valuation of mineral properties
.
(2) 2000 - The Institute held its Annual General Meeting and Tradex jointly with the Prospectors and Developers Association of Canada (PDAC), under the name Mining Millennium 2000. It was the largest meeting held in recent years.
CIM Council approved the revised version of the CIM Standards on Mineral Resources and Reserves — Definitions and Guidelines, which were incorporated by reference into the new National Instrument 43-101.
(ref CIM.ORG)
CIM......Canadian Institute of Mining....
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Bre-x geologist Michael de Guzman
to read an article (about 6 pages) on Michael de Guzman
google michael de guzman bre x
then click on "the mystery of michael de guzmam"
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an exerpt from the article:
De Guzman became a millionaire four times over, having cashed in stock options