Exchanges have distinct rules on disclosure, w/some being more strict than others. The #TSX #TSXv & #ASX are recognized as leaders, while other exchanges such as the #AIM #LSE #OTC #NASDAQ have poor disclosure requirements, & companies may choose not to release information 🧵

The #TSX requires companies to produce an independent technical report that is available in full to investors, while the #ASX only requires companies to publish highlights from these reports. For producers, the ASX has more rigorous quarterly reporting requirements.

Various US-listed #lithium companies do not disclose prod. or cost figures. #ASX equities must only use Measured & Indicated resources to calculate mine life in their PFS & FS, Inferred resources are not allowed. This can affect bottom-up stock modelling.

Only NI43-101 (🇨🇦) & JORC reporting standards should be fully trusted.

Remain vigilant of wording in reports. Often drill results may contain "averages" or "compounded" in order to present multiple small intercepts as a single larger one, which can be misleading.