RE: news this week?Dear skmo,
I have read all the communication from the Corporation and I am having a hard time finding a definite statement that say that there will be a press release this week..
Heck, I cannot find one statement that talks specifically about issuing a press release, but what I find are statements about when they are expecting (planning) the 43-101 to be finish...
On June 10, 2010 the press release said:
The estimation will be the object of a technical report in compliance with National Instrument 43- 101 and will be completed in the next 3 months. (my interpretation of this statement is that report will be completed in September 2010, because of the words next three months, and they are July, August, September..., not that a press release will be issued) The report will be prepared by Richard W. Foster and Zstar Mineral Consultants, both Qualified Persons under the terms of National Instrument 43-101.
Then when I read the July 6, 2010 press release, I see that they now say that:
“The report is planned to be completed by the end of August 2010”. Nowhere in these statement do I see an absolute statement about a press release...
Furthermore, when you understand a bit was is required to have a 43-101, you will understand that there is always a time between the completion of the report and the public disclosure of the report, if the corporation does not want to have to issue a retraction or a correction...
Because all 43-101 report that are publish with a resource estimation are reviewed for accuracy, by the regulators, the Corporation has two choices when issuing a press release. They can issue a press once they received the 43-101, post the 43-101 online and hope that the authorities agreed will all aspect of the report, because if they do not then the Corporation is ask to make a public retraction or modification or the Corporation may seek prior clearance from the regulators before publishing the 43-101...
Because retractions, even for minors reason, are always negative, I truly hope that AFA will seek prior clearance, even if this take a few more weeks..
KEG