VANCOUVER, Aug. 16, 2012 /CNW/ - The Canadian Securities Administrators
(CSA) today published Staff Notice 43-307 Mining Technical Reports - Preliminary Economic Assessments. The notice is intended to clarify staff's position on several issues
regarding the use and disclosure of "preliminary economic assessment"
(PEA), as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
In June 2011, CSA amended the definition of PEA to allow issuers greater
flexibility in disclosing the results of these early stage or
conceptual economic studies in broader circumstances. In monitoring the
change, the CSA found that some issuers were disclosing PEA in
circumstances and ways not intended or allowed under the new
definition. The notice clarifies the CSA's views on what PEAs are and
how they should be disclosed.
"The CSA recognizes that the amended PEA definition caused some
confusion among mining issuers that needed to be addressed," said Bill
Rice, Chair of the CSA and Chair and CEO of the Alberta Securities
Commission. "This notice will help mining issuers better understand the
application and limitations of these studies."
The notice emphasizes the importance of keeping PEA separate and
distinct from the more comprehensive preliminary feasibility and
feasibility studies. The notice also provides further guidance on other
aspects of PEA preparation and disclosure where potential compliance
problems have been observed.
CSA Staff Notice 43-307 is available on various CSA members' websites.
The CSA also published CSA Staff Notice 43-308, Professional Associations under NI 43-101 Standards of Disclosure for Mineral Projects, setting out the CSA's view that Chartered Professional Engineers
registered with Engineers Australia can be added to the list in
Appendix A. Staff Notice 43-308 will be updated from time to time,
reflecting the CSA's view of other professional organizations and
The CSA, the council of the securities regulators of Canada's provinces
and territories, co-ordinates and harmonizes regulation for the
Canadian capital markets.
SOURCE: Canadian Securities Administrators
For further information:
British Columbia Securities Commission
Autorité des marchés financiers
Manitoba Securities Commission
Nova Scotia Securities Commission
Financial Services Regulation Div.
Newfoundland and Labrador
Nunavut Securities Office
Saskatchewan Financial Services Commission
Alberta Securities Commission
Ontario Securities Commission
New Brunswick Securities Commission
PEI Securities Office
Office of the Attorney General
Yukon Securities Office