OSC Publishes Staff Notice Regarding Mining Issuers’ MD&A Disclosure

On February 6, 2014, the Ontario Securities Commission (OSC) published Staff Notice 51-722 – Report on a Review of Mining Issuers' Management's Discussion and Analysis and Guidance (the Staff Notice). In the Staff Notice, the OSC summarizes the results of its recent review of the MD&A filed by mining issuers with a market capitalization of less than $100 million and provides guidance to assist these issuers in complying with their disclosure obligations. The following provides an overview of the Staff Notice.

Areas of Improvement

The Staff Notice identifies four primary areas for improvement:

• venture issuers without significant revenue from operations did not provide the breakdown of material components of exploration and evaluation (E&E) assets or expenditures