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ARTICLE · 11 JULY 2013

NI 43-101 Technical Reports: Disclosure Needs Improving

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The Ontario Securities Commission staff recently published Notice 43 705 Report on Staff’s Review of Technical Reports by Ontario Mining Issuers.

CanadaEnergy and Natural Resources
Mark Bennett
Mark Bennett
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On Thursday, June 27, 2013, Ontario Securities Commission ("OSC") staff published Notice 43-705 Report on Staff's Review of Technical Reports by Ontario Mining Issuers ("the Notice"). The Notice discusses the results of a recent staff review ("Review") of select technical reports filed by Ontario mining issuers in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The results were not encouraging, as approximately 80% of the technical reports had some form of non-compliance and approximately 40% of the technical reports contained at least one "major non-compliance concern". Nevertheless, the Notice does provide helpful guidance to other mining issuers and qualified persons regarding the preparation of technical reports and common deficiencies that should be avoided.

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