Magpie 43 101 begins the process
Everything flows from the 43-101 which is created by independent parties.
Stock pricing and the prospectus follow the 43-101. The prospectus is a full-blown offering memorandum and takes less time to assemble than the 43-101. Lawyers oversee the prospectus which takes 2-3 months to get through the Securities Commission, probably less because in Magpie's case, there is only one property. All numbers in the prospectus are audited numbers.
The Securities Exchange requires an audit within 60 days of an IPO...and since Magpie has a year's end audit in December, it will be advantageous to get the IPO done sooner, rather than a later "stub" audit (updated audit).
I’m unclear if Kamaleddine's metallurgical report is dependent on the completion of the arrival of the final 30 assays. It is clear that a few investors are suspect of the lack of metallurgical report. Let's assume Peter Smith continues progressing Magpie because it is in fact feasible.
If they press hard, Magpie can IPO before the end of the first quarter 2012.
-sg
