43-101https://www.micon-international.com/ni-43-101-technical-reports-theyre-not/
The purpose of an NI 43-101 Technical Report, as stated in the Form 43-101F1 Instructions, is “to provide a summary of material scientific and technical information concerning mineral exploration, development, and production activities on a mineral property that is material to an issuer” and the instructions to authors further states: “The Qualified Person preparing the Technical Report should keep in mind that the intended audience is the investing public and their advisors who, in most cases, will not be mining experts. Therefore, to the extent possible, technical reports should be simplified and understandable to a reasonable investor. However, the technical report should include sufficient context and cautionary language to allow a reasonable investor to understand the nature, importance, and limitations of the data, interpretations, and conclusions summarized in the technical report.”
Once a 43-101 is complete it will form part of the basis of a feasibility study.
A feasibility study makes the business case for a mining project or any other type of busiess for that matter.
A feasibility study makes a determination of the net present value (NPV) of a project.
With a buiness case in hand a company can solicit funding from banks and investors.
It would behove retail investors to read a mining companies technical and feability studies so that they have a through understanding of any mining company they are investing in.
With junior exploration companies it is very high risk but the reward can be substantial.
An investor should assess not only the company but also macro conditions and assess their own risk tolerance and time horizons