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Canadian Securities Regulators Raise Serious Concerns with Mining Disclosure

January-1-2014

Lawyer Leah Boyd
Area Corporate Finance and Securities, Mining and Natural Resources

Summary

Article originally published in The 2014 Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada

Excerpt from:  "Canadian Securities Regulators Raise Serious Concerns with Mining Disclosure":

In June 2013, the Ontario Securities Commission (the OSC) released OSC Staff Notice 43-705 – Report on Staff's Review of Technical Reports by Ontario Mining Issuers (the OSC Report).  The OSC Report, which examined 50 technical reports filed pursuant to National Instrument 43-101 – Standards for Disclosure for Mineral Projects (NI 43-101) from June 2011 to June 2012, identified a non-compliance rate of 80 per cent, with 40 per cent of technical reports having at least one major deficiency.  Such a high level of non-compliance, according to the OSC, is unacceptable.

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