When you have the time---NI 43-101It occurred to me that perhaps SOME people may not quite fully understand exactly what GCU is
trying to do and accomplish with all of their drilling---both INFILL and STEP-OUT.
Sure they are drilling to add ounces of Gold, and Silver----BUT---do you really understand why and how
they are going about it?
AND---
Why the goal of getting a National Instrument 43-101 is so IMPORTANT?
Other than the fact that the NI 43-101 IS one of the REQUIRMENTS for getting a LISTING on the TSE,
which, by reading some of the posts here----some people didn't know, or weren't sure about.
Steps to take to improve your knowledge:
(1) Go to GCU's home web page/site. The address is www.goldcanyon.ca
(2) Look at the top of the site---go over to where it says "INVESTOR AREA"---and click on it.
(3) Scroll down to the bottom of the options shown, where you'll find the words MINING TERMS and then
Click on it.
(4) What should come up on your screen is: "GLOSSARY OF MINING TERMS" as published by the well
respected Resource World Magazine.
(5) Scroll down----through to 'page two', until you get to the "R"s-----AND---
(6) Read CAREFULLY what it has to say under the label of "RESOURCES & RESERVES"
Now, if you didn't fully know beforehand, you will fully understand not ONLY what a NI 43-101 is, BUT ALSO,
the difference between----MEASURED----INDICATED----and INFERRED----ounces!!!
That is why ALL of the "GRID WORK" drilling is being done, and although perhaps "boring" to some, just why
it is so important and essential. It is also why ALL of GCU's excellent drill results are SO IMPORTANT and
SO GREAT!!
ALSO----if you have the time---you can also "brush-up" on lots of the other definitions of mining terms that
may seem a little 'strange' to you when you read various News Releases.
It is an excellent REFERENCE POINT.
The debate I have with MYSELF is whether the NI 43-101 is as IMPORTANT----is really as important to the
BIG MINING COMPANIES as I had once thought?
Sure, it no doubt keeps "them honest" in their dealings with and their potential BUY-OUT OFFERS for an
Exploration Company------------------BUT------------I keep asking myself the same questions!!!
I mean, in light of the Globe & Mail article, posted recently here, other like articles, and the "Early Buy-Out"
bids by many of the major mining companies-----ie. Their Actions Show their TRUE COLOURS----
Do thease big companies really, in effect, NEED to have a FORMAL NI 43-101 ACTUALLY done, to
SPELL IT OUT FOR THEM what an exploration company has got, AND what the potential of the
exploration company really is?
YES, the rules for a NI 43-101 are strict, and it has to be done by an INDEPENDANT and QUALIFIED
GEOLOGIST----and doing a NI 43 101 is an ehausting, detailed, time consuming, and hence also an
EXPENSIVE proposition--------------BUT-----------is it as important as it USED TO BE???
I mean, think about it------ALL of the MAJOR MINING COMPANIES, eager to acquire and replenish their
diminishing gold reserves, especially with the price of GOLD (& Silver) reaching NEW HIGHS almost
daily-----HAVE without a doubt-----"TONS" of the BEST and EQUALLY, if not MORE, QUALIFIED and
MORE THAN EXPERIENCED GEOLOGISTS on their RESPECTIVE STAFFS!!!!
To ME, with my extrapolating, this is OBVIOUS---A GIVEN!!!
I mean, if YOU were a Major Mining Company----wouldn't YOU have them---and undoubtedly THE BEST
ONES IN THE WORLD you can find, basically regardless of their cost???
OF CORSE YOU WOULD----it's just so obvious & logical!!! It's also JUST THAT IMPORTANT to your
survival, AND that's your BIGGEST EDGE TO GET an ADVANTAGE over your COMPETITORS and FIERCE
RIVALS!!!!!
Upon reflection----that's why I believe a GREAT BUY-OUT OFFER for GOLD EXPLORATION Companies,
like GCU----CAN HAPPEN AT ANY TIME!!!!.
Take a look at what has been happening over the last little while----lots of, and an increasing number of
BIG BUY-OUTS. Yes, I think the "Proof is in the Pudding"!!!
The most recent example of this is ABX BARRICK's friendly buy-out of EQUINOX MINERALS for 7.3 Billion,
or $8.15 per share---a big premium---on top of the recent offer by a foreign firm (check it out)
and today EQUINOX's share price is even trading higher than that----$ 8.40 I think.
I of corse could be completely WRONG and "OUT TO LUNCH"---------
AND
Talking of that-----------I'm HUNGRY!!!! Gotta go! See U all, LATER.
Notoriously yours, as always,
BARN BREATH