SHORT COURSES

Reporting Standards Under NI 43-101: Rules, Policies, and Guidance - Changes that have occurred and more that are coming 

Level: Intermediate 

Facilitator: Greg Gosson, Wood Canada Limited  

National Instrument 43-101 Standards of Disclosure for Mineral Projects was last updated June 30th, 2011.  Since then, there have been minor “housekeeping” edits to the rule and companion policy.  More significantly, there have been changes to how Canadian provincial securities commission mining staff interpret and regulate mining technical disclosure standards.  Some of these changes have been communicated through Canadian Securities Administrators (CSA) staff notices, Canadian provincial securities commission staff notices, workshops and short courses presentations by CSA mining staff.   In April 2022, the CSA published a consultation paper on NI 43-101 posing 38 main questions, and several additional sub-questions requesting feedback from mining industry stakeholders.  The comments received were to assist the CSA in determining ways to update and enhance the current NI 43-101 requirements.  In October 2023 the CSA approved a project to modernize and enhance NI 43-101 and a plan to publish the proposed rule changes for public comment before early March 2025.   

Parallel to this, CIM committees have been updating and creating practice guidance for the mining industry and have updated the CIM Definition Standards that includes definitions incorporated by reference into NI 43-101.  

This two-day short course will walk course participants through the NI 43-101 rule, Companion Policy 43-101CP, and Form 43-101F1 Technical Report, and will identify the proposed changes.  We will provide our opinion on how this may impact current mining industry practice standards and what will be required to meet these new disclosure standards, if the proposed rule changes are adopted. 

Short Course Objectives:  

Provide course participants with an overview of the rules in NI 43-101, guidance in the Companion Policy, and content requirements of Technical Reports:  

• that have not changed. 

• an analysis of what has been proposed to change in these documents; and,  

• what may be required to meet these new standards of disclosure. 

Target Audience:  

• Officers and directors of public mining companies.  

• Technical staff at mine operations.  

• Qualified persons preparing mining technical disclosure for public mining companies.  

• Investor relations personnel.  

• Mining analysts.   

About the instructor:  

Greg Gosson, Ph.D., P,Geo., Technical Director, Geology & Compliance, Wood Canada Limited. 40+ years in mining industry in exploration, mine operations, and senior company management. Member of: CIM Mineral Resource and Mineral Reserve Committee; PDAC Securities Committee; SME Mineral Resources and Reserves Committee, and Former Co-Chair and member of mining advisory committee to Canadian Securities Administrators on NI 43-101.

Nikki Agyei, P.Eng., Principal Engineer and Study Manager, Wood Canada Limited. Geostatistician, study manager on consulting engineering projects in wide range of mineral properties under NI 43-101, S-K 1300, and other international reporting standards.

Stella Searston, RM SME, F.AusIMM, AIG; Principal Geologist, Mine Technical Services Ltd. Member of: CIM Mineral Resource and Reserve Committee; SME Resources/Reserves Committee. Technical reviews, audits, and specialist studies including due diligence and governance/compliance appraisals. Prepared technical aspects of listing and filing documents, independent expert and competent person reports for various exchanges, including AIM, HKEx, ASX, JSE as well as Canadian exchanges. Part of peer review of major mining studies (PEA, PFS, FS) Prepared/reviewed/compiled over 500 NI 43-101 technical reports, and over 30 reports under S-K 1300.