RE:RE:2021 Financials out quietly43-101 is a set of standards set out by the Canada Institute of Mining that protects investors from exagerated estimates by mining companies to inflate the stock price.
Inferred Mineral Resource estimate done to NI43-101 standards is what we are referring to that support mine planning and evaluation of the economic viability of the deposit. I just shorten it to the 43-101
As everyone likes to compare LME to GBR, Here's an article I read back when their deal went through that discusses the 43-101. I htink this explains it well
Great Bear, however, is still at a nascent state. The company has not yet conducted a 43-101 report on Dixie. The regulatory report is a rigorous study carried out by geologists estimating the grade and quantity of gold in the ground, and the costs of extraction.
“A 43-101 allows the public to make more informed investment decisions. We don’t have that with Great Bear, and there’s a lot of money at stake.”
History shows that paying top dollar for early-stage exploration companies with no 43-101 can be dangerous. In 2008, Vancouver-based Goldcorp Inc. bought Red Lake development company Gold Eagle Mines Ltd. for $1.5-billion.
As with Great Bear, Gold Eagle had promising drill results, but no 43-101. When that report eventually came, the amount of proven economic gold in the ground was minuscule. The Gold Eagle acquisition was a disaster for Goldcorp, and its failure contributed to the company eventually being sold to a competitor at a deep discount.