Mining Prospects Trends and Developments in Mining Law in Canada and Internationally

Category Archives: Corporate Finance

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CSA Proposes Significant Amendments to Canada’s Take-Over Bid Regime

Posted in Corporate Finance, Corporate Governance and Continuous Disclosure, M&A

On March 31, 2015, the Canadian Securities Administrators (CSA) published a CSA Notice and Request for Comment with respect to proposed amendments to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids (MI 62-104) and changes to National Policy 62-203 – Take-Over Bids and Issuer Bids. The 90-day comment period on the proposed amendments ends on June 29, 2015.

The proposed amendments provide for significant changes to the take-over bid regime and in some cases clarify the concepts previously announced by the CSA in September 2014. Please see our detailed report, Amendments to Take-Over Bid Rules Will Deliver More Continue Reading

Legal Challenges Facing the Mining Industry Today

Posted in Aboriginal and Environmental Issues, Corporate Finance, Corporate Governance and Continuous Disclosure, Litigation, M&A, Mining

Please join us on Monday, March 2, 2015 at the 2015 PDAC conference, where our National Mining Group will present a program specifically tailored for in-house counsel and other decision makers in the mining industry. The program will offer panel discussions on the latest legal developments and issues facing mining companies in Canada and abroad.

Topics presented on will include:

¬  Mining in Canada in the wake of the landmark Tsilhqot’in decision on aboriginal title and the Mount Polley Mines Tailings Facility Breach

¬  Emerging issues in anti-corruption laws and policies

¬  Top legal trends in mining M&A and … Continue Reading

Moody’s Provides Guidance on Metal Streaming Transactions

Posted in Corporate Finance, Mining, Project Development, Commercial Arrangements and Agreements

On July 17, 2014, Moody’s Investors Service (Moody’s) released a report on metal streaming transactions, in which it discusses the impact of streaming transactions on the credit profiles of mining companies.  Generally, Moody’s views metal streaming transactions as a form of equity investment, rather than debt financing.  This is in contrast to criteria released by Standard & Poor’s (S&P) in 2013, which characterize the upfront payment aspect of metal streaming transactions as debt. … Continue Reading

Financing in Difficult Times: Metal Streaming Transactions

Posted in Corporate Finance, M&A, Mining

As the next installment in our series on alternative financing methods for mining companies, we look to a relatively new form of financing: the metal streaming transaction.

A metal streaming transaction is essentially a long-term agreement between an investor and a mining company for the purchase and sale of metal, calculated by reference to the production from one or more mines.  Under this agreement, the investor makes an upfront capital payment (or a series of payments based on development milestones) to the mining company in exchange for the right to purchase from the mining company an amount of metal calculated … Continue Reading