Canadian Mining Journal

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NET NITS – Concerns about NI 43-101

Duncan Bain, P.Geo, read last week's article about proposed changes to the standards of disclosure for mineral proj...


Duncan Bain, P.Geo, read last week’s article about proposed changes to the standards of disclosure for mineral projects. He raised these concerns:

"I have problems with both Proposal 2 and 3.

"Not requiring a foreign-owned company to comply to a NI 43-101 (Proposal 2) simply incites a stampede of current Canadian companies out of the country to avoid those 43-101 requirements.

"Broadening the definition of an independent qualified person (Proposal 3) is impossible. As soon as he enters into a contract with a company he is already under some influence. A QP who has already done work for that company is already influenced. A QP who enters the picture with no prior experience with the company and who will later be completely removed from any involvement in the project would be far less qualified to judge the merits of the project than one with at least some experience. That QP must still maintain his independence, and the results of his work and report must still come under scrutiny, but a QP with no experience in the project cannot do as good an assessment as one with some experience of that project."


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