Endomines is a member of FinnMin (Finnish Mining Association) which corresponds to the Swedish association SveMin (Association for mines, mineral, and metal producers in Sweden).
Relating to this, the Company follows the new common recommendations on the publishing standards for companies which are engaged in exploration and mineral extracting.
These recommendations are based on the rules accepted by the Canadian Securities Administrators. The Canadian policy document National Instrument, NI 43-101 (Standard), gives the basis for and describes the rules of reporting. NI 43-101 recommends using the Canadian CIM code to describe the mineral resources and ore reserves, but it allows the use of the Australian JORC code, American SEC code, British IMMM or the South African SAMREC code. SveMin and FAERI recommend that all the information from the company directly or through the assignments should follow this policy document.
The purpose of these recommendations is that they shall act as the guideline for the companies that give information for investors, media and stock market about their activity. The recommendations apply in all forms of information (press release, website, public memo, brochure, annual accounts).
Endomines has also decided to follow the International Financial Reporting Standards (IFRS) as they are given by the European Union. The essential accounting and valuation principles become clear from the annual accounts.
In addition to the demands these recommendations set, the information of Endomines shall be:
- honest as we have nothing to hide
- clear and signal the Company’s essential values and agenda
- open and equal to promote the Company’s development and contacts to share holders.
When giving information, the main rule of Endomines is that all the events that are likely to have a significant effect on the price of the Company’s share shall be public at the same time for all target groups.
The basis of Endomines’ technical reports has been compiled in the supervision of Jaakko Liikanen who is ”Qualified Person” according to SveMin’s definition. He is qualified to work according to SveMin and FAERI’s rules concerning the accounts of the mineral resources.
SveMin and FAERI’s rules for information about mineral project: