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.

Contacts:
Kathleen Napier
Communications Coordinator
416 362 1969 ext. 233
[email protected]

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
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...