GoldenPanda Post Re: NI 43-101Good post GoldenPanda.
To add to what you wrote, there are two distinct kinds of estimate categories used to calculate the amount of minerals a property has - Mineral Resources and Mineral Reserves. Mineral Reserves (with two sub-categories of Proven and Probable) have a greater degree of confidence than Mineral Resources (with three sub-categories of Inferred, Indicated and Measured). Right now Integra's old (and certainly agreed almost useless) NI 43-101 is in the Resource side under the Inferred category. I've included my post from Nov. 18, 2010 on the old Kalahari board for reference for those who are interested.
Hope you find this helpful.
Nov. 18, 2010 Post
I've read lots of posts on this board and enjoyed most of them. Thought it was about time I contributed.
Atone time I thought KLA would really skyrocket but I have given up onthat dream. This doesn't mean I've lost all faith – it just means thatnow I believe the share price will rise more gradually BUT ONLY IF theycan define a lot more gold reserves/resources in an updated NI 43-101.
IMHOyou either stick with Kalahari in the hopes their NI 43-101 showsthey've got a lot more gold or you get out now. Both are valid options(for me it would mean breaking more or less even assuming the pricedoesn't go too much lower).
I've decided to stick around and see what happens.
Let'sadmit that it's all a gamble –as someone said recently 'nothing is asure thing' – and that we're all gamblers. Conjecture about conspiracyor fantasies about being saved by the Chinese are not helpful. Onlybetter numbers and more drilling are going to have an impact. We need anupdated NI 43-101 that shows several million oz. - with at least asubstantial amount in at least the measured and indicated resourcecategories – to make this thing pop at all.
Some sobering food for thought:
Rightnow KLA shows about 340000 ounces of gold in a category known asInferred Mineral Resource (for those that know more, please correct me).Now this is the lowest possible category in a NI 43-10. Century Mines next door(I don't own any so please don't think I'm promoting) has a nearoperational mine,1.1 million oz. Gold RESERVES proven and probable(notResources), 1.3million oz. Gold Resources measured and indicated PLUS3.1 millionoz. Gold resources inferred (almost 10 times more than KLA).Century has about 400 million shares out and is trading around 40 cents!
GLTAL