Staff of the Ontario Securities Commission recently conducted a
review of Technical Reports filed in Ontario by mining issuers
under National Instrument 43-101 Standards of Disclosure for
Mineral Projects and Form 43-101F1 Technical Reports.
OSC Staff Notice 43-705 Report on Staff's Review of
Technical Reports by Ontario Mining Issuers was published on
June 27, 2013 to summarize the results of the review, highlight
common compliance issues and provide guidance to mining issuers on
how to better comply with the rules regarding Technical
Reports.
Out of the 50 Technical Reports reviewed, 40 (or 80%) were found
to be non-compliant with the requirements in some way. Based on
their review, OSC Staff concluded that "Although significant
efforts have been made to comply with the requirements of Form
43-101F1, issuers and qualified persons need to further improve
their disclosure."
