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OSC review finds juniors struggling with disclosure

Ontario’s junior mining companies are struggling to meet disclosure requirements, a review by the Ontario Securities Commission (OSC) has found.



Ontario’s junior mining companies are struggling to meet disclosure requirements, a review by the Ontario Securities Commission (OSC) has found.

The review looked at the management’s discussion and analysis filings (or MD&As) of 100 Ontario-based junior mining issuers with a market capitalization of less than $100 million. Focusing on key areas of disclosure, including: discussion of operations, liquidity and capital resources; related party transactions; and reporting on use of financing proceeds, the biggest problem the OSC found was failure to fully disclose information, rather than a total absence of disclosure.

In particular, companies are relying too much on boilerplate disclosure and not including enough specifics in their MD&As, said Kathryn Daniels, deputy director of the OSC’s finance branch.

Continue reading this story at MiningMarkets.ca/news/osc-review


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