NI 43-101 Disclosure: Rules, Policies, Standards and Practices

Presented by: Wood Canada Limited & Mine Technical Services

Summary:

This short course will cover:

• Capital markets favored by the mining industry. Meaning of the term “material” with reference to preparing mineral property information and complying with NI 43-101 rules and policies;
• Setting the regulatory scene – who are the Securities Regulators, and what rules they are enforcing;
• International reporting standards and the goal of harmonized definitions, standards, and reporting practices. The role of the Canadian Institute of Mining, Metallurgy and Petroleum in providing definitions and practice guidelines that are referenced in NI 43-101;
• Meeting the definitions of the different mining studies recognized under NI 43-101: Preliminary Economic Assessment, Preliminary Feasibility Study, Feasibility Study and where the Life of Mine Plan for a developed mine fits in. How these definitions compare to the standard definitions under the CRIRSCO family of codes and how they compare to the equivalent definitions under United States SEC S-K 1300;
• The Qualified Person concept and professional practice considerations in the Canadian context. Definition of Qualified Person under NI 43-101 and how that differs from other international reporting codes for Competent Persons and Qualified Persons. Roles and responsibilities of a Qualified Person under NI 43-101 and a brief discussion on the civil liability regime they are exposed to under the provincial Securities Acts in Canada and some of the defenses offered;
• NI 43-101 disclosure rules basics; overview of Canadian Securities Administrator (CSA) staff policies that apply to the NI 43-101 rules and Form 43-101F1 Technical Report content;
• Some examples of CSA mining staff decisions on what they consider to be compliant disclosure;
• Other Canadian provincial securities rules that directly apply to mining technical disclosure and technical report content;
• A brief comparison of some rules and policies under NI 43-101 to equivalent rules and policies under the new SEC mining disclosure standards of S-K 1300.