RE:Uneconomic to mine."Now NFG could prove to have economic gold but its not proven in a 43-101 that the company is in no hurry to do.THIS IS A RED FLAG!"
43-101 resource reports are done by independent qualified companies and are expensive to get done. An indpendent company is not going to be engaged until their is sufficient data to warrant such an expenditure.
For there to be a high confidence level in a 43-101 reported deposit there needs to be a lot of drill data. There has to be a high degree of certainty there is an economic deposit present before 100s of millions of dollars and even billions of dollars will be sunk into building a mine.
It takes time to do all the drilling and technical reports. NFG is doing just that and moving fast. They have 14 drills advancing their project as quickly as possible. The drill results warranted NFG doubling its drill program last year.
Time is money and NFG is moving things along fast. As soon as they have enough data, NFG geologist will know what they have but they cannot issue a qualified estimate as they are not independent, they will engage a firm to do a 43-101. Simultantiously they will keep on drilling to expand the deposit beyond what they already know to be economic toward completing a bankable PEA.