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UBC Theses and Dissertations

Amendments to national instrument 43-101 with respect to industrial minerals Mohseni, Pooya


Third party compliant reporting standards govern how mining companies must disclose technical information concerning their mineral assets. These reporting standards apply to any public issuer. Mineral Resources and Mineral Reserves (MRMR) are critical in the determination of the mineral asset base as well as the market value of a mining company. Moreover, companies must present a qualifying technical report in accordance with existing reporting standards as a necessary step, required by lenders and financial institutions. This is a required step prior to finalizing any financial deal publicly or, in some cases, privately. This research examines issues with public reporting specifically as it involves industrial minerals and the challenges this sector faces getting the same recognition as other mineral commodities by the approving institutions. Different perspectives with regard to main elements of the reporting standards are presented. The efficiency of reporting standards is reviewed based on the findings of the interviews. These findings prepare the ground for further discussion on what needs to be improved, and how these changes could be achieved. Industrial mineral companies are facing serious challenges in terms of gaining capital. They have to compete not only with other mining companies working with other mineral commodities, but also with all public companies in other industries that are seeking investment dollars. A better understanding of the investment community’s decision making process and improvements to communication with investors increases the probability of gaining investment capital. This research examines the main indicators that investors review to evaluate an industrial mineral project. These indicators include MRMR that are the principal basis for the value of any mining company, the reputation of the management team which is built over time in a succession of achievements, and finally cost structure and future cost of development which are crucial to the future prosperity of company. This research further provides insight into the invisible link between public reporting of industrial minerals and investor confidence. The analysis presented here is based on 34 interviews conducted with experts from Canada, Australia, the UK, South Africa, and the USA.

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