Past version: Effective from 27 Sep 2013 to 22 Aug 2018
A mineral, oil and gas company must comply with the following:
(1) Make immediate announcement involving any material changes to the reserves or resources, including (a) the basis upon which the issuer asserts the existence of any new material reserves or resources that has not been previously disclosed, where applicable; and (b) a qualified person's report prepared in accordance with the requirements set out in paragraph 5 of Practice Note 6.3. The announcement must include a statement that the reserve and resource estimates stated in the announcement have been reviewed by a qualified person and in accordance with the disclosure requirements in Practice Note 6.3. The issuer must announce the qualified person's report as soon as practicable.
Where the announcement involves the reporting of new material reserves or resources that have not been previously disclosed, or a 50% change or more in reserves or resources that have been previously reported on, the qualified person's report must be signed off by an independent qualified person who meets the requirements in Rule 210(9)(b) and the contents of the qualified person's report must comply with the requirements as set out in paragraph 5 of Practice Note 6.3.
Where the announcement involves the reporting of new material reserves or resources that have not been previously disclosed, or a 50% change or more in reserves or resources that have been previously reported on, the qualified person's report must be signed off by an independent qualified person who meets the requirements in Rule 210(9)(b) and the contents of the qualified person's report must comply with the requirements as set out in paragraph 5 of Practice Note 6.3.
(2) Make immediate announcement of any change in the Standard adopted by the issuer, including the reasons for the change and the impact, if any, on its existing stated level of reserves and resources.