PDAC e-News and Activities, July 4, 2002 - No. 3
Page Index
Communications
with shareholders will become easier
Prospector wins
action over lost claims
Preparing
for the 2002 Mines Ministers Conference
Recent presentations
Geoscience and
mapping in northern Canada
“Super”
flow-through share update
PDAC Convention 2003
Upcoming events
Communications
with shareholders will become easier
On June 3, 2002, the Ontario Minister
of Finance approved National Instrument 54-101 on shareholder
communications. The result of this ruling, which took effect at the
beginning of July and will be applicable in all Canadian
jurisdictions, is that reporting issuers, such as junior mining
companies, will be able to communicate directly with their
beneficial owners of securities who do not object to the release of
their names and related information. Previously, issuers were
required to use an intermediary to communicate with their
shareholders. The new instrument, which will be implemented in
stages, will also allow issuers to send materials to a shareholder
by any means, including electronically, if the shareholder has
agreed to this.
Click here for more details.
Prospector
wins action over lost claims
Doug Robinson, a geologist/prospector
from Kirkland Lake, Ontario, recently won a settlement in small
claims court over two mining claims in which he holds an interest.
Robinson claimed compensation for his interest in the claims, both
of which had been affected by the province’s Lands for Life
program and its successor, Living Legacy. One claim was eventually
inside a new park and the second adjacent to it. Because of its
significance nationally, the PDAC provided Robinson with financial
and legal assistance in preparing and presenting his case. Past
president Gerald Harper appeared as a witness at the trial. Click
here for the judge’s ruling.
Preparing
for the 2002 Mines Ministers Conference
In early June, a cross-Canada
teleconference was held as the first step in the development of the
exploration sector’s brief to this year’s Mines Ministers
Conference, which will be held in Winnipeg in September.
Participants, who included PDAC directors and association
representatives of each Canadian jurisdiction, identified two key
challenges for the industry which they felt must be included in the
brief: a) the escalating cost of raising risk capital and onerous
securities regulations; and b) access to land and, particularly,
compensation for expropriated claims (British Columbia is at the
moment the only jurisdiction which has legislation in place
providing for compensation). The deadline for submitting the brief
is August 14. If members have any comments or suggestions about its
contents, please contact
Dave Comba.
Recent
presentations
Tony Andrews was a keynote speaker at
the CIM / Minerals North Conference, which took place in Prince
George, B.C., from May 22 to 24. The title of his presentation was The
Public Image of the Mining Industry: Some Myths and Realities.
David Comba gave presentations on “super”
flow-through shares at the Insight Information Company’s Mining
Finance Conference on May 30 in Toronto and at the annual meeting of
the Canadian Diamond Drillers Association (CDDA) on June 20 in Mont
Tremblant, Quebec.
Also at the CDDA annual meeting was
Dave Orava, chairman of the e3 Steering Committee, who delivered a
paper on the progress of e3 (Environmental Excellence in
Exploration).
Geoscience
and mapping in northern Canada
Geoscience Committee chair
Mary-Claire Ward represented the PDAC at a meeting in Yellowknife,
NWT, of a sub-committee of the Industry/Government Overview
Committee (IGOC) on the Northern Regulatory Regime. This
sub-committee has been established to examine the future of
geoscience and mapping in northern Canada and to develop a position
paper on the subject. The meeting participants included
representatives from the federal and territorial governments, the
Mining Association of Canada and industry. The formation of the
subcommittee and the development of the position paper were
motivated by an expression of interest from DIAND Minister Robert
Nault during the recent Northern Mines Ministers Conference.
“Super”
flow-through share update
The Taxation Committee, chaired by
Rob Whittall, has recently updated the “super” flow-through
brochure, What you should know about “super” flow-through
shares. An electronic version is available in pdf format at
http://www.pdac.ca/pdac/misc/super_flow_through_shares.pdf.
If you would like copies of the printed version, please
send a request.
The committee is also working on a
proposal to the Canadian federal government on how the “super”
flow-through program, which is a temporary tax credit enhancement,
might best be concluded.
PDAC
Convention 2003
Planning is now underway for next
year’s convention, which will be held in Toronto from Sunday,
March 9 to Wednesday, March 12. Chairmen of the planning committee
are Andy Chater, Teddy Bear Valley Mines Limited, and Joe Hamilton,
Dundee Securities.
Information for exhibitors in the
Trade Show and Investors Exchange will be mailed out this summer.
Upcoming
events
The Canadian Exploration Geophysical
Society (KEGS) and the Minerals and Geotechnical Logging Society (MGLS)
will be holding a symposium on borehole logging methods August 21-23
in Toronto. The symposium will cover topics with applications in
mining, ground water, environmental methods for a wide range of
borehole technologies. Registration forms and hotel information are
available at www.mgls.org.
The technical program may be viewed at www.kegsonline.org.
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