The loophole:

From June 14 NR

• The company is a producing issuer as per NI 43-101 Section 5.3

http://www.ccpg.ca/profprac/en/Documents/ni_20110624_43-101_mineral-projects.pdf

Section 1.1

“producing issuer” means an issuer with annual audited financial statements that disclose

• (a) gross revenue, derived from mining operations, of at least $30 million Canadian for the issuer’s most recently completed financial year; and
• (b) gross revenue, derived from mining operations, of at least $90 million Canadian in the aggregate for the issuer’s three most recently completed financial years;

Section 5(3)

Despite subsection (1), a technical report required to be filed by a producing issuer under paragraph (1)(b) or (c) is not required to be prepared by or under the supervision of an independent qualified person.

Section 4.2 - 7&8 contain specifics on timelines to file the official report. I can't figure it out if it's 45 days or 180 days. Judging by no official report filed within 45 days, I assume it's 180 days.

Gee George, maybe you could clear this up or is the market just so stellar that you can just keep it on cruise control.