'Competent Persons' and Professional Organisations
Most stock exchanges that list gold exploration and mining companies now require that any announcements to be signed off by a ‘Competent Person’.
The definition of a competent person depends on the jurisdiction but generally requires them to have a minimum amount of experience in that type of gold deposit and belong to a professional organisation approved by the exchange. Each exchange nominates a reporting code to which the competent person must adhere to. Should the information given in an announcement prove to be false, the competent person is potentially liable and could be prosecuted. Examples of competent person definitions are listed below: |