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PDAC e-News and Activities, September 23, 2004, No. 19
Page Index
Points to consider before
obtaining flow-through funds late in calendar year
Comments invited on proposed amendments
to NI 43-101
Lobbying to expand Canadian
Exploration Expenses
Board identifies key issues
Bill 97, First Nations Resource Revenue Sharing
Act 2004
What and how your company should disclose –
sessions on the East Coast
Cross-Canada information sessions about
listing on AIM
MES program: The long arm of foreign
decisions – Are your Canadian assets safe?
Proficiency testing of mineral
analysis laboratories
Points to consider
before obtaining flow-through funds late in calendar year
Corporate members may have an opportunity to obtain flow-through share
funds late in the year, especially from flow-through partnerships that
have unallocated flow-through funds available. However, there are some
tax rules and implications to consider.
Click here for details.
For further information, contact
David Comba, Director,
Regulatory Affairs.
Comments invited on
proposed amendments to NI 43-101
The Canadian Securities Administrators
have announced a 90-day comment period for proposed amendments to NI
43-101 Standards of Disclosure for Mineral Projects;
Form 43-101F1; and Companion Policy 43-101.
The PDAC’s Securities Committee will start to develop its comments on
the proposed revisions at the beginning of October. The deadline for
submission is December 10, 2004. Members wishing to make their own
comments should
click here.
For more information, contact
David Comba, Director,
Regulatory Affairs.
Lobbying to expand
Canadian Exploration Expenses
On September 10, members of the PDAC Financial and Taxation Committee
and representatives of the Mining Association of Canada (MAC) met with
Finance, Canada Revenue Agency and NRCan officials to promote the
expansion of the definition of Canadian Exploration Expense to include
the costs of community consultations, baseline environmental,
pre-feasibility and feasibility studies. These costs, which in the case
of community consultations are increasingly court mandated, are
sometimes considerable, especially in the territories. Because they do
not qualify at the moment as CEE expenditures, they must be paid for
with non-flow-through funds. The meeting resulted in guardedly positive
comments from government officials. For more information, contact
David Comba, Director,
Regulatory Affairs.
Board identifies
key issues
In a morning long strategy session on September 14, the PDAC’s board of
directors identified key issues to which it will be directing its
advocacy efforts over the upcoming year. The four top priorities are:
securities reform; making the ‘super’ flow-through program permanent;
land access and use; and E3 Environmental Excellence in Exploration. The
association is involved in a broad spectrum of additional exploration
related issues and activities.
The board has established two new committees: an International
Committee to be chaired by Hervé Thiboutot and a Student Affairs
Committee which will be co-chaired by Lynda Bloom and Maureen Jensen.
For more information, contact
Tony Andrews, Executive
Director.
Bill 97, First Nations
Resource Revenue Sharing Act 2004
On September 22, the PDAC made a written submission to the Ontario
legislature’s Standing Committee on Finance and Economic Affairs on the
subject of a private member’s bill that is undergoing committee review.
Bill 97, The First Nations Resource Revenue Sharing Act 2004
would institute a process leading to a “comprehensive revenue-sharing
agreement”.
Click here to see a copy of the PDAC submission. For more
information, contact Philip Bousquet,
Director, Sustainability.
What and how your
company should disclose – sessions on the East Coast
Canada NewsWire is offering free sessions for investor relations
professionals in St. John’s, Halifax, and Moncton. The sessions will be
held on October 4, 5 and 6 and will include a complimentary lunch.
Robert Fabes, senior vice president of the Toronto Stock Exchange will
discuss changes in Canadian stock markets, trends in disclosure, and how
to enhance your IR program using TSX guidelines.
Full details and to register.
Cross-Canada information sessions about
listing on AIM
Members are invited to one of four information sessions on the benefits
of listing on AIM, the growth market of the London Stock Exchange. The
sessions will be held in Vancouver, Calgary, Toronto and Montreal during
the week of October 18-25. Attendance is free, but you do need to
register.
Further details and registration form.
MES program: The long arm of foreign
decisions – Are your Canadian assets safe?
A recent Supreme Court of Canada decision, Beals v. Saldanha, may
present a threat to the operations of Canadian mining companies
operating abroad. In a presentation to be given by the CIM’s Management
and Economics Society and the Natural Resources Section of the Ontario
Bar Association, this decision, its implications, and what can be done
about it will be discussed. The presentation will be made on Tuesday,
October 12 at the Ontario Club.
Further information and registration details.
Proficiency testing of mineral analysis laboratories
Investors, amongst others, rely on laboratory results to assess the
value of mineral deposits that have an impact on the potential growth
and value of mining companies. Natural Resources Canada has established
a proficiency testing program for mineral analysis laboratories that
provides laboratories with the opportunity to obtain an independent
assessment of their performance. The next assessment is scheduled for
the fall of 2004.
More information. |
