PDAC e-News and Activities, November 5, 2009 - No. 68
Page Index
Getting the word out about flowthrough shares
Members’ comments on National
Instrument 43-101 submitted
PDAC calls for permanent super flowthrough
program in pre-budget consultations
Act amending Ontario’s mining legislation receives Royal Assent
Some hotel accommodation still available for PDAC Convention 2010
November 15 is deadline for nominations to PDAC’s board of directors
Please complete Fraser Institute’s annual survey of mining companies
Federal government publishes CSR e-bulletin no. 3
Workshop on IFRS ● Vancouver ● November 24-25
Roundtable on financing in the mining industry ● Toronto ● December
3
Renewed investment in transportation is key to northern development
WHERE on Earth challenges young people to think about the origins of
their ‘stuff’
Orphaned and abandoned mines initiative report released
Positions on global climate change and creationism
Getting the word out
about flowthrough shares
The Globe & Mail is planning to publish a supplement on flowthrough
shares in mid-December. The supplement, which will be contained in the
investment pages of the business section of the newspaper, will be
targeted towards investors and will include articles on what flowthrough
shares are, their benefits, how to buy them, and details about the
mineral exploration tax credit (super flowthrough). Also featured will
be stories of how exploration companies have successfully used
flowthrough shares and some case studies. For more information about
advertising opportunities in the supplement or about the editorial
features, please contact
Saley Lawton.
In the meantime, the PDAC has updated its popular
pamphlet on flowthrough shares and the super flowthrough tax credit. The
pamphlet, which is aimed principally at investors, is available in
English and French and fits into a number 10 business envelope. Copies
are also available on the PDAC’s website
here.
To order copies, please contact Wendy Merowitz Gray at
wmgray@pdac.ca.
Members’ comments on National Instrument
43-101 submitted
Earlier this year, the British Columbia and Ontario securities
commissions asked for comments on the operation of National Instrument
43-101 Standards of Disclosure for Mineral Projects. Thank you to those
members who sent in their opinions on this topic. Your views and
comments were summarized and submitted in this eleven-page
document.
In general, NI 43-101 is regarded as
benefiting the Canadian capital markets and the exploration and mining
industry. There are concerns, however, about its application and
operation.
PDAC calls for permanent super flowthrough program in pre-budget
consultations
PDAC director Eira Thomas and Philip Bousquet, senior program director,
appeared before the federal finance committee in September in Edmonton
to present the association’s proposals for reducing the impact of the
economic downturn on the mineral industry. Priorities are for the
mineral exploration tax credit (METC) to be made permanent; investment
in transportation infrastructure; and the qualification of issuance and
compliance costs as CEE. The full submission is
here.
Act amending Ontario’s mining legislation receives Royal Assent
Ontario’s Mining Amendment Act, 2009, received Royal Assent on October
28, 2009. A copy of the new Act is available
here. Fasken Martineau LLP has produced two useful blackline comparisons.
The first shows the effect of the amending legislation on the existing
Act, and the second shows the changes in the amending legislation
between first reading in May 2009 and its receiving Royal Assent. The
comparisons are posted
here. The new Act
paves the way for processes that will be described in regulations, to be
developed during the upcoming year. In developing these regulations, the
Ministry of Northern Development, Mines and Forestry plans to hold
further consultations. The PDAC will be involved in this consultation
process and will provide details to members once they are known.
Some hotel accommodation still available for PDAC Convention 2010
The association has reserved blocks of rooms at a number of downtown
Toronto hotels close to the Metro Toronto Convention Centre. Preferred
room rates are in effect for the duration of the convention (March
7-10), but these rates apply to a certain number of rooms only and are
available on a first-come, first-served basis up until February 5,
2010. Rooms at the special convention rate are still available at the
following hotels: Westin Harbour Castle; Metropolitan; Novotel; Sheraton
Centre Toronto; Delta Chelsea; One King West Hotel & Residence;
Courtyard by Marriott Downtown; and the Marriott Residence Inn. Full
details, including rates, reservation information, and the approximate
walking distance between each hotel and the Metro Toronto Convention
Centre, are available
here.
November 15 is deadline for nominations to PDAC’s board of directors
Members are encouraged to submit their nominations for the association’s
board of directors. The deadline is November 15. The board is
responsible for advancing members’ interests, approving the
association’s policies and positions on issues affecting the industry,
and for the overall stewardship of the association’s affairs. Directors
serve a three-year term and are elected at the association’s annual
meeting in March. The board generally holds seven meetings a year, and
directors may choose to attend in person or by telephone. Click
here for nomination details.
Please complete Fraser Institute’s annual survey of mining companies
The Fraser Institute conducts an annual survey of mining companies. The
results, which are published every spring, rank Canadian jurisdictions
and some foreign countries by how favourable they are perceived for
mineral development. This study has grown in authority over the twelve
years it has been published; the PDAC makes a financial contribution to
the institute to conduct the survey. Please take 15 minutes to complete
it. All responses are kept confidential, and the names of individuals
completing the survey are entered into a draw for $1,000. The survey
begins
here. Thanks!
Federal government publishes CSR e-bulletin no. 3
Foreign Affairs and International Trade Canada is publishing an
electronic bulletin to provide information about the federal
government’s programs in the area of corporate social responsibility. A
third issue, in English and French, is now available. Click
here for a
copy.
Workshop on IFRS ● Vancouver ● November 24-25
A two-day interactive workshop on International Financial Reporting
Standards for exploration companies is being offered by
PricewaterhouseCoopers in Vancouver on November 24 and 25. The workshop
will cover the key differences between Canadian GAAP and IFRS and will
help participants plan their conversion requirements and timelines.
Space is limited to 25 participants. The registration fee is $1,850 +
GST. More details are
here.
Roundtable on financing in the mining industry ● Toronto ● December 3
Foreign Affairs and International Trade Canada (DFAIT), in collaboration
with the International Finance Corporation (IFC), PDAC, the Canadian
Association of Mining Equipment and Services for Export (CAMESE), and
Fasken Martineau LLP, is organizing a roundtable and individual
consultations on financing in the mining industry. The event will be
held on December 3 at Fasken Martineau's offices, Suite 4200, 66
Wellington Street West, Toronto. The roundtable will begin at 8:30 a.m.
with registration and breakfast. The event will also include a
networking lunch. IFC representatives will speak about present and
future business opportunities in the mining sector in Africa and Latin
America. Send an email to Allison Cary,
acary@fasken.com, to obtain more
information or to register your interest.
Renewed investment in transportation is key to northern development
In the October 2009 issue of Northern Mining News, the NWT & Nunavut
Chamber of Mines says that investment in transportation and power
generation infrastructure is critical for the development of the next
generation of mines. The chamber has identified more than 30 ore bodies
in the region that could be in production in the next 25 years, but many
will not see production without the support of highways and/or sources
of power, it says. Read more
here.
WHERE on Earth challenges young people to think about the origins of
their ‘stuff’
The Canadian Geoscience Education Network is organizing another WHERE
challenge, a national contest that encourages youngsters 10 to 14 years
old to pick a favourite object, identify the non-renewable resources it
contains and come up with a creative way to demonstrate WHERE on Earth
the resources originate. Essays, poems, songs, plays, paintings, posters
are some suggestions. Contestants may submit individual entries.
Alternatively, entries may come from a group or even a school. Cash
prizes will be awarded to the winners. If you have youngsters or know
some, this could be fun. The video promoting the contest is worth a
look. It and contest details are
here.
Orphaned and abandoned mines initiative report released
NOAMI (National Orphaned/Abandoned Mines Initiative) has released a
six-year performance report, highlighting its activities,
accomplishments, and remaining challenges. Prevention of new abandoned
sites has been identified as a top priority. The report is available in
English and
French.
Positions on global climate change and creationism
The Canadian Federation of Earth Sciences (CFES) has developed position
statements on global climate change and creationism. CFES was
established in 2006 as the successor to the Canadian Geoscience Council
and brings together 13 affiliated member societies of earth scientists
in industry, government, and academia. The umbrella organization
represents an estimated 20,000 earth scientists in Canada. The position
statements are available
here.
|
