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March 12, 2013
Mini-Symposium on Laterites or Laterwrongs: Making the Pieces Fit
On Tuesday March 26, 2013 the TGDG will host a selection of speakers for a mini-symposium at Hart House on ‘Laterites or Laterwrongs: Making the Pieces Fit’. Speakers include Ravi Anand (CSIRO), Peter Winterbourne (Vale), and Ron Schonewille (Xstrata)...
March 11, 2013
CET Seminar Series starts March 15 with presentation on The Past and Future of Nickel Discovery
Hailing from industry, government and academia, high profile Australian and internationally-based researchers will join the CET fortnightly to share their experience on a wide variety of geoscience topics.These seminars are FREE and all interested Geologists are welcome to attend...
February 25, 2013
Is regulation robbing exploration properties of their worth?You can’t get chickens if you don’t allow the eggs to develop. Joe Hinzer, president of geological consulting firm Watts, Griffiths and McOuat (WGM), uses this analogy to illustrate how many early-stage exploration projects are being stifled by current mineral valuation regulations before they have a shot at becoming mines...
February 04, 2013
Roundup 2013: HDI's Thiessen sees 'mining renaissance'
It has been a busy 24 hours as the Association for Mineral Exploration British Columbia (AME BC) kicked off its Mineral Exploration Roundup 2013...
January 29, 2013
Where do I meet the geologists of Africa?Africa is more than 20 per cent of the world’s land area, is home to 15 per cent of human population but still earns its label as the Dark Continent through generating only 2 per cent of the world’s electricity. Where can you find the geologists exploring this sleeping giant with its inevitable future in the resources sector?
January 28, 2013
CMIC Footprints project sets sights on large ore-forming systems
As exploration programs focus on remote and concealed targets, the ability to recognize large ore-forming systems – from the most distal margins to high-grade cores – becomes increasingly important. Efforts are therefore under way to generate sophisticated “footprint” or “signature” models of high-value deposits.
December 2, 2012
Greenfields come to Perth for Greenland Day
The December 4th Greenland Day, taking place in Perth, will feature industry and geoscience experts from across the globe, discussing Greenland’s burgeoning exploration opportunities and recent research advances...
November 1, 2012
On Nov 8, Discover the Future of Exploration
Some of the sector's leading minds will be looking into their crystal balls on November 8th, trying to summon a picture of what the future might hold for exploration and mining in Canada...
September 11, 2012
Petrobras Starts Output at Baleia Azul Presalt Field
Brazilian state-run energy giant Petroleo Brasileiro, or Petrobras, said Tuesday that it had started oil production at the Baleia Azul presalt field in the offshore Campos Basin...
September 11, 2012
Is Gold Regaining its Glitter?
Barrick Gold CEO Jamie Sokalsky speaks with Carl Quintanilla on CNBC about Barrick's strategy to drive shareholder value...
September 10, 2012
The Long Term Tie Between Energy Supply, Population, and the Economy
The tie between energy supply, population, and the economy goes back to the hunter-gatherer period...
July 12, 2012
Exploration needed to kickstart next mining boom
A massive two thirds of Western Australia remains unexplored for minerals and geologists say the territory presents huge potential...
July 12, 2012
Teams Finding New Ways to Shale Success
Shale and other unconventional resources are being called the biggest game changer in a generation - and as land and other costs escalate, the industry continues to apply lessons gleaned from the early successes...
July 11, 2012
How EM geophysics can help feasibility studies
In this exclusive interview with Professor David Thiel, Director at the Centre for Wireless Monitoring and Applications at Griffith University, he discusses how electromagnetic geophysics can help those who are conducting a feasibility study and opens up on the real cost benefits of this technology...
July 11, 2012
Mining security - opening up Latin America
Improved security has started to open up new areas for mineral exploration in Latin America....
Make a comment Disclosure Dos and Don'ts
by Virginia Heffernan on November 1, 2012 expertise
Often companies will have done their homework on news releases and
filings, but forget the 43-101 rules on their presentations and web
sites.
In my interactions with junior exploration companies, I find there remains some confusion around NI 43-101 compliant disclosure of exploration results. The confusion is unsurprising, given how the rules have evolved since their introduction more than decade ago (the last adjustment was in June 2011), but there are some errors that have repeatedly cropped up over the years. I asked staff at the Ontario Securities Commission(OSC) if they could help pinpoint the main infractions and, after reviewing one of their latest 43-101 presentations, came up with some pointers:
Neglect your web site at your perilOften companies will have done their homework on news releases and filings, but forget the 43-101 rules on their presentations and web sites. In the worst case, promotional materials such as newsletter plugs are posted on the website without being vetted for compliance. Remember, if you disclose it, you own it.
Don’t think of your resources as compliant,
they never are
Only securities filings or disclosure are ever "NI-43-101 compliant", not the exploration work or resources they are based upon. Companies often make the mistake of calling their results or resources compliant, implying that the OSC or the TSX has somehow vetted the numbers.
Rout out declarations of ounces,
pounds and total metals
A resource estimate always has tonnage and grade, and if you don't disclose both, you’re breaking the rules. Stating that you have 1.7 million oz. gold or even 1.7 million oz. gold at 4.6 grams per tonne is a no-no. Likewise, “total rare earth elements” or “total PGEs” are not grades. You must disclose the individual metals or oxides that make up the whole.
Get your preliminaries straight
Companies often confuse preliminary economic analyses (PEAs) with preliminary
feasibility studies, but only preliminary feasibility studies are rigorous enough to provide an estimate of reserves.
Avoid cash flow or revenue projections.
They can be a trigger
If you announce expectations about revenue or cash flow from
a mineral occurrence, the OSC interprets that as initial disclosure of a
preliminary economic analysis, and that triggers a technical report. If you want everyone to know that you‘re aiming for $50 million in annual cash flow from an asset, expect to provide (1) a mineral resource and (2) an independent technical report within 45 days of making the disclosure.
Name the Qualified Person (QP)
It seems obvious, but the OSC says it’s surprising how many companies forget to name the QP - the geoscientist who supervised the work –in their disclosure given that the QP is ultimately responsible for what is said.