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Northern Vertex Mining (TSXV:NEE) announced that as a result of a review by the British Columbia Securities Commission, the Company is in the process of preparing an amended technical report that provides additional or amended disclosure in respect of certain PEA items including, taxes, royalties, the experience of the Qualified Persons who authored the report, metal price assumptions, along with an expanded narrative regarding the metallurgy and the relationship of the pilot plant phase to any final production decision.
As quoted in the press release:
The March 28, 2013 news release should have, in addition to the other qualifications stated therein, noted that the PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and that there is no certainty that the preliminary economic assessment will be realized. Accordingly the PEA, which includes our mineral resource estimate, is currently unsupported by a NI 43-101 compliant technical report, and should not be relied on until the regulatory review process has been completed and the PEA is supported by an NI 43-101 compliant technical report.
Click here to read the Northern Vertex Mining (TSXV:NEE) press release
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