OTCQX:BGMZF - Post by User
Comment by
ovison Sep 22, 2012 5:04pm
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Post# 20401800
RE: RE: Mining CEO pleads guilty!
RE: RE: Mining CEO pleads guilty! >>Still, you should not that Southwestern Resources was exploring in China. I'm not sure that China's standards are anywhere near what we have here in Canada. <<
2guys,
I don't agree. BGM trades on the TSXv as does the Southwestern Resources. The BCSC no doubt reviewed the new releases of both companies. Since Southwestern Resources reported in Canada, the NI43-101 reporting instrument applies.
If Southwestern Resources traded only in Hong Kong or even in London then the NI43-101 rules and CIM standards would not have applied. But since they were a TSXv company, I would say the standards and hurdles are identical. Just because the BGM deposit is located in British Columbia, it doesn't mean that the BCSC is going to go out to the site. So it really doesn't matter where in the world the deposit is situated. If you trade on the TSXv then you have to follow the NI43-101 rules. There might be some minor exceptions for companies that have a primarly listing on another exchange, such as say Sydney. In those cases, there are some reporting exceptions -- e.g. financials from Sydney/Toronto listed companies look to come ever 6 months not every quarter. But the Aussie companies do file "normal" NI43-101 reports.