Welcome!

News Feed Item

Common Regulator Provides Canada a Golden Opportunity for Economic Growth

TORONTO, ONTARIO -- (Marketwired) -- 07/14/14 -- Wednesday's announcement that the Governments of Saskatchewan and New Brunswick are joining Ontario, British Columbia and the federal government to establish the Cooperative Capital Markets Regulator (CCMR) is welcome news for the Canadian economy-particularly for Canada's mineral exploration companies who require efficient capital markets to raise the money they need to discover the minerals and metals that make modern life possible.

While Canada is currently the best country in the world when it comes to helping mineral exploration companies raise money, it is becoming increasingly difficult to raise capital on Canada's stock exchanges. The cost of being a publicly-listed company raising capital, for example, can amount to around $200,000 per year. Almost 60% of mineral exploration companies listed in Canada had working capital balances below $200,000 as of May 2014.

Now is the time for other provinces to join the four that have already signed-on to the CCMR so that Canada can finally harmonize its capital market regulations and facilitate greater access to capital for an industry that employs more than 400,000 Canadians and is an integral part of our country's current and future prosperity.

From Dawson City to St John's, exploration activity generates enormous economic opportunities, and finds the mines of the future. Eighty per cent of significant mineral discoveries in Canada over the last five years, for example, have come from so-called "junior" exploration companies-small, dynamic, entrepreneurial companies that take on the high-risk task of looking for new mineral deposits.

While mining will continue to play an important role in Canada's economy into the distant future, Canada should be mindful that competition from Australia, the United Kingdom and emerging countries is increasing. Last year, Australia and Canada both attracted 13% of global exploration expenditures, a narrowing of Canada's substantial lead in previous years.

Capital markets play a fundamental role in the success of Canada's junior mining companies, and the regulations governing capital-raising have a direct impact on the amount of capital that can be raised. Much like high-tech start-ups, most junior mining companies generate no revenue-they raise funds for exploration and development from investors in Canada's capital markets.

Unfortunately, the current regulatory structure with 13 regulators in Canada is fragmented and inefficient, plagued by onerous and costly regulatory requirements that weaken Canada's status as the global leader in exploration and mining. While we welcome recent proposals to allow more Canadians to participate in the opportunities our industry presents, more needs to be done.

The CCMR presents a vital opportunity to support Canadian companies in raising the money they need to create jobs and drive our economy forward. That is why the Prospectors & Developers Association of Canada commends Saskatchewan, New Brunswick, British Columbia, Ontario and the federal government for working towards its creation. Moreover, while we hope that other provinces will choose to participate we also hope that they will make their participation contingent upon a commitment to design a regulatory regime that unlocks growth, not one that stifles it.

It goes without saying that governments must strike the correct balance between investor protection on the one hand and capital-raising and a reduced regulatory burden on the other. Canadians will not invest in an industry if they think they will be at risk of being duped, and we support strong enforcement and criminal prosecution of fraud. The best way to protect investors is to put criminals in jail, not to impose additional costs on the good guys.

Maintaining strong access to capital is crucial to sustaining Canada's economic growth, as well as its standing in the global economy. We need to ensure that we take the measures necessary to strengthen this asset, or we will lose our global position and the potential economic output. The cooperative regulator creates an opportunity for Canada to strengthen its status as the best place in the world to raise money for exploration. We hope this opportunity is not wasted.

About the PDAC

The Prospectors & Developers Association of Canada (PDAC) is a national association representing the mineral exploration and development sector. The PDAC has more than 10,000 individual and corporate members, and encourages the highest standards of technical, environmental, safety and social practices in Canada and around the world. The PDAC also hosts the mineral industry's largest annual convention in downtown Toronto. The PDAC 2015 Convention will take place from March 1-4, 2015.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
SYS-CON Events announced today that Catchpoint, a leading digital experience intelligence company, has been named “Silver Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Catchpoint Systems is a leading Digital Performance Analytics company that provides unparalleled insight into your customer-critical services to help you consistently deliver an amazing customer experience. Designed for digital business, C...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...