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One of the challenges in the junior resource exploration/development sector is attaching a credible net asset value to potential assets in the ground. A 43-101 resource estimate is helpful, so is a preliminary economic assessment; but neither really attaches a hard cash value to a company’s project.
The market is usually right about exploration and development companies. The good ones get cashed up, the others have a hard time raising funds.
Producing a 43-101 compliant resource estimate is a huge step forward for any junior resource company. For Abraham Drost, CEO of Clean Air Metals (TSXV: AIR), this was an especially satisfying moment because it confirms a new approach to a potentially very valuable platinum group metals deposit.