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Investment Implications of the U.S. SEC's Rule S-K 1300

Ben Parsons, Matthew Sullivan
Monday, April 29, 2019
First presented: 
Current Trends in Mining Finance Conference 2019
Project Evaluation

On October 31, 2018, the U.S. Securities and Exchange Commission (SEC) adopted new mining property disclosure requirements. This panel, presented at Current Trends in Mining Finance Conference 2019, focussed on the investment implications of the U.S. SEC’s Rule S-K 1300 and what it may mean for existing or new potential listings, and what mining companies may need to do to get their projects ready. The new rules have significant implications for existing and new listings on U.S. stock exchanges. They aim to modernize the property disclosure requirements for mining registrants and provide investors with comprehensive reporting of mineral properties. The new rulings require full disclosure of information about a mining property that is material to its business or financial condition. They apply to all mining (hard rock and brine) and royalty companies listed on a U.S. exchange. The amendments aim to ensure investors have the knowledge needed to make informed decisions about material mining properties. The panel presentation will discuss what this will mean for currently listed companies including some of the legal implications. Will the increased public disclosure provide better opportunity for investment? Could we see a rise in a new junior market in the US?


Feature Author

Ben Parsons

Ben Parsons has over 17 years of broad geological experience, including precious metals, base metals, and more recently niobium. Ben previously worked for AngloGold Ashanti Ltd. Since joining SRK, Ben’s expertise includes generation due diligence and auditing of exploration/mining projects, review of operation performance, geological modelling, the production of independent mineral resource estimates, project evaluation as part of Competent Person’s/Mineral Expert Reports and stock exchange listings, and technical reviews. Mr. Parsons has experience in technical studies, working with junior exploration companies at grassroots exploration level through to the listing of large multi-national operating companies with multiple assets. International projects include gold, silver, base metals, copper, molybdenum, niobium and phosphate, all reported in accordance with international reporting codes, such as CIM, JORC, SAMREC etc. Ben has also been active in providing training courses in mineral resource estimation.

Principal Resource Geologist
SRK Denver
Matthew Sullivan
Matthew Sullivan has a metallurgical engineering and economics background and has eight years of experience analyzing, optimizing and valuing mining operations from internal and external positions. Matthew has extensive experience designing and leading diligence processes for mining assets ranging from early stage exploration through to operating mines. He has priced, negotiated and closed mining deals across the globe in a wide variety of commodities via structures ranging from royalty and equity investment to term and convertible debt facilities. His experience as a mining sector buy-side professional funding the development and operation of mining assets provides a unique perspective on what it takes to study, build, operate, manage risk and invest in the mining sector.
Mining Economics Specialist
SRK Denver
SRK Africa