Annual Report - Prospectors and Developers Association of Canada
Annual Report - Prospectors and Developers Association of Canada
Annual Report - Prospectors and Developers Association of Canada
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CONTENTS2 Message from thePresident3 Message from theExecutive Director4 PDAC timeline6 Strategic plan8 Refreshing thePDAC br<strong>and</strong>10 PDAC Convention16 Highlights fromthe past year20 S-IMEW 201222 Mining Matters26 Geosciencetechnology28 Aboriginal affairs30 e3 Plus32 Awards36 IFRS38 Membershipstatistics40 PDAC board <strong>of</strong>directors & staff
PDAC timeline1992 For the first timeever, the convention isopened to the world <strong>and</strong>attracts a total 2,300delegates, 37 <strong>of</strong> whichare from other countries.2000 The convention istransformed for one yearinto the 2000 MiningMillenium—a joint venturebetween the PDAC <strong>and</strong> CIM.2003 The PDAC introducese3 EnvironmentalExcellence in Exploration,a field-proven guide <strong>of</strong>methods for explorationactivities, communityengagement <strong>and</strong>environmental practices.1972 A record 2,830registered delegates attendthe convention, along with350 students.1975 Under the leadership<strong>of</strong> President James Walker<strong>and</strong> Vice-PresidentEd Thompson, regulardirector meetings areschedule on the secondTuesday <strong>of</strong> every month.1977 The PDA’s campaignto get a 100% flow-throughshare write-<strong>of</strong>f is passedinto law <strong>and</strong> remains effectivefor the next two years.1978 The annual awardsare introduced with the firstbeing the Bill Dennis Prospector<strong>of</strong> the Year Award.1983 PDA PresidentJohn Hansuld <strong>and</strong> hiscompany CanamaxResources Inc. organize thefirst issuing <strong>of</strong> flow-throughshares. Between 1984 <strong>and</strong>1990, $3.75 billion wouldbe raised through flowthroughshare financing.1987 Tony Andrews ishired as Managing Director<strong>and</strong> the association’sname is once againchanged, this time to the<strong>Prospectors</strong> & <strong>Developers</strong><strong>Association</strong> <strong>of</strong> <strong>Canada</strong>.1994 The association’sfirst strategic plan isundertaken.1997 The conventionmoves from the RoyalYork Hotel to the MetroToronto Convention Centre.Mining Matters, a charityaffiliated with the PDACthat educates studentsabout rocks, metals,minerals <strong>and</strong> miningis established.2006 The conventionattracts 14,500 attendeesfrom 100 countries <strong>and</strong> isnow without question thelargest internationalshowcase for exploration<strong>and</strong> mining in the world.The Aboriginal Program islaunched at convention.The PDAC Conventionmoves to the SouthBuilding <strong>of</strong> the MetroToronto Convention Centre.2007 The PDAC celebratesits 75th anniversary, theStudent Industry MineralWorkshop (S-IMEW) islaunched in Sudbury,Ontario, <strong>and</strong> the SkookumJim Award for Aboriginalachievement in the mineralindustry is introduced.2008 PDAC PresidentPatricia Dillon <strong>and</strong>Assembly <strong>of</strong> First NationsNational Chief Phil Fontainesign a Memor<strong>and</strong>um <strong>of</strong>Underst<strong>and</strong>ing (MOU) thatlays the foundation forcooperation between thetwo organizations. ThePDAC also moves its <strong>of</strong>ficeto 135 King Street East.2010 PDAC plays a majorrole in defeating Bill C-300.2011 Ross Gallinger ishired as Executive Director.1998 The PDAC takes partin the Mining St<strong>and</strong>ardsTask Force <strong>and</strong> the subsequentrevision <strong>of</strong> NationalInstrument 43-101.2009 The PDAC exp<strong>and</strong>se3 to e3 Plus, a set <strong>of</strong>eight principles <strong>and</strong> threetoolkits that exploration<strong>and</strong> mining companiescan use to heighten theirsocial responsibility,environmental stewardship,<strong>and</strong> health <strong>and</strong> safety.2012 A record-breakingnumber <strong>of</strong> attendees(30,369) attend the conventionfrom 125 countries.The association developsa new strategic plan, <strong>and</strong>embarks on a rebr<strong>and</strong>ingprocess, which includes thecreation <strong>of</strong> a new logo.70s 80s 90s 00s 10s<strong>Annual</strong> <strong>Report</strong> 20125
strategic planA new visionfor the futureAt the start <strong>of</strong> 2011, the PDAC’s board <strong>of</strong> directorsembarked on a process to develop a strategicplan for the association that would furtherenhance our ability to protect <strong>and</strong> promote theinterests <strong>of</strong> our members for the next decade<strong>and</strong> beyond. The goal wasn’t to simply deliver anew strategy going forward, but to create a newimperative for the organization that emphasizesour position as the leading voice for the mineralexploration community—both in <strong>Canada</strong> <strong>and</strong>around the world.With that in mind, the board <strong>of</strong> directors,under the leadership <strong>of</strong> President Glenn Nolan,took part in two facilitated planning sessionsthat generated a holistic dialogue on the majorthemes <strong>and</strong> issues facing our members. “As part<strong>of</strong> these sessions, it was very important that weput all <strong>of</strong> the issues on the table,” says Nolan.“This is a highly dynamic <strong>and</strong> complex industrythat covers a lot <strong>of</strong> areas—from permitting <strong>and</strong>l<strong>and</strong> access issues, to capital access <strong>and</strong> taxationmatters, to environmental <strong>and</strong> social responsibility,<strong>and</strong> <strong>of</strong> course building stronger partnershipswith Aboriginal communities.”Through a well-designed process thatincluded several workshops, interviews withstakeholders <strong>and</strong> in-person gatherings, board<strong>and</strong> staff members worked in unison to prioritizeissues based on the broadest impact on thesector. “We know that our association can onlyeffectively manage so many things, so we hadto carefully pick those which had the mostsignificant impact,” adds Nolan. To cover everyissue impacting the industry, both currently <strong>and</strong>going forward, numerous hours were spentdiscussing <strong>and</strong> evaluating each issue, thenprioritizing <strong>and</strong> examining the breadth <strong>of</strong> eachissue <strong>and</strong> its implications.The PDAC board <strong>of</strong> directors also reliedon member feedback to gather as manyperspectives as possible to feed the dialogue.“We distributed a member survey in 2012 thatexamined a range <strong>of</strong> views about who we are<strong>and</strong> what is expected from us as an association,”says PDAC Executive Director, Ross Gallinger.“In the end, 1,000 respondents participated inthe survey, each <strong>of</strong>fering rich insights that werean invaluable resource in helping the boardduring their deliberations.”6 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
“ This is a highly dynamic <strong>and</strong> complex industry thatcovers a lot <strong>of</strong> areas—from permitting <strong>and</strong> l<strong>and</strong> accessissues, to capital access <strong>and</strong> taxation matters, to environmental<strong>and</strong> social responsibility, <strong>and</strong> <strong>of</strong> course buildingstronger partnerships with Aboriginal communities.”— Glenn Nolan, PDAC PresidentWorking with facilitators <strong>and</strong> staff, the boardnarrowed in on three major business imperatives—accessto capital, access to l<strong>and</strong>, <strong>and</strong>Aboriginal affairs—that were deemed paramountto the success <strong>of</strong> our members <strong>and</strong> the sector.“Access to capital is without question a verytimely issue these days, one that includes thesecurities regime <strong>and</strong> tax measures that go along way in providing stability for the sectorin the long term” says Nolan. “Access to l<strong>and</strong>goes without saying. Without that access,our members simply can’t work. We’ve donea lot <strong>of</strong> work in this area <strong>and</strong> we feel we needto strengthen our efforts here. And buildingstronger relationships with Aboriginal communities<strong>and</strong> helping to provide the necessary tools<strong>and</strong> support they need to benefit from projectsremains a top priority.”While the sessions with the board determinedthree primary focus areas for the organization,significant resources will also be allocated tobuilding <strong>and</strong> exp<strong>and</strong>ing other key areas, suchas the CSR program, student initiatives,communications <strong>and</strong> public affairs, <strong>and</strong> <strong>of</strong> courseheightening our ability to host the worldrenownedPDAC Convention. With the directionset by the board, staff <strong>and</strong> our volunteers,the PDAC is now in the process <strong>of</strong> developingspecific roadmaps that will highlight the short,medium <strong>and</strong> long term goals over the life <strong>of</strong> thestrategic plan.“This is a very exciting time for the PDAC.We’re in a period <strong>of</strong> renewal; almost a rebirth ina lot <strong>of</strong> ways,” says Nolan. “I’m very proud <strong>of</strong> thisnew strategy <strong>and</strong> I am confident it will honourthe good work done previously while providingthe basis for a series <strong>of</strong> new initiatives that willsupport <strong>and</strong> benefit the membership <strong>of</strong> the PDACwell into the 21st century.”— By Steve Virtue<strong>Annual</strong> <strong>Report</strong> 20127
How do youchange the br<strong>and</strong><strong>of</strong> an 80-year-oldorganizationwith a sterlinginternationalreputation?Carefully, <strong>and</strong>with respect.8 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
Refreshing the PDAC Br<strong>and</strong>There have been, <strong>and</strong> will continue to be,significant technological, social, financial <strong>and</strong>environmental changes within the mineralexploration <strong>and</strong> development industry. From acommunications perspective, this means that thePDAC must be very clear <strong>and</strong> compelling aboutwhat we do, who we do it for, <strong>and</strong> what value webring to all <strong>of</strong> our audiences.Our br<strong>and</strong>, expressed through the many ways wecommunicate—our convention, our programs, ourprint <strong>and</strong> online materials, our public <strong>and</strong> governmentrelations initiatives, our visual identity—ishow we tell our story <strong>and</strong> bring it to life.In 2011, the leadership <strong>of</strong> the PDAC decidedthat in light <strong>of</strong> changes in our environment it wasan opportune time to review our br<strong>and</strong>. Theyknew that such a review, <strong>and</strong> any subsequentchanges that came from it, had to be donethoughtfully <strong>and</strong> with input from a variety <strong>of</strong>stakeholders.We used an array <strong>of</strong> different methodologies toreach out to stakeholders in a research processthat spanned four months. We talked to industryleaders, representatives <strong>of</strong> NGOs <strong>and</strong> government,as well as members <strong>of</strong> the media. Weconducted an online survey that gathered inputfrom over 1,000 members, <strong>and</strong> hosted two workshopsin which participants had the opportunityto creatively set the direction for our br<strong>and</strong>. Akey input to the br<strong>and</strong> review was the board <strong>of</strong>directors’ strategic planning initiative. It wasdecided that the PDAC br<strong>and</strong> must align withour strategic direction for it was a necessary way<strong>of</strong> achieving the opportunities <strong>and</strong> objectivesoutlined in the plan.We found that perceptions about the role <strong>and</strong>importance <strong>of</strong> the PDAC are changing. Althoughmany people associate the PDAC with ourworld-famous convention, the growth <strong>and</strong>success <strong>of</strong> our programs <strong>and</strong> advocacy work hassolidified the PDAC’s status as the face <strong>of</strong> themineral exploration industry in <strong>Canada</strong>.PDAC relied on br<strong>and</strong> strategist Lee Jacobson,who led the research <strong>and</strong> investigation phases <strong>of</strong>the process. “The research highlighted thecritical importance <strong>of</strong> providing fact-basedinformation about the mineral explorationindustry,” says Jacobson. “Interviews quicklydrew conclusions about the sector’s economicimpact on the countries <strong>and</strong> communitieswhere we operate, along with its response tochallenges, government <strong>of</strong>ficials <strong>and</strong> politicians,the media, as well as the general public.”When the feedback from the research activitieswas compiled <strong>and</strong> the information distilled <strong>and</strong>studied, five main characteristics emerged aboutwhat we do <strong>and</strong> who we are as an association:• We are passionate about what we do;• We are pr<strong>of</strong>essionals in a science <strong>and</strong>technology-based industry;• We are stewards <strong>of</strong> resources <strong>and</strong>communities;• We are bold <strong>and</strong> optimistic;• We embrace challenges <strong>and</strong> change.In having a clear underst<strong>and</strong>ing <strong>of</strong> who we are,the designers at Hambly & Woolley, a Torontobaseddesign firm that was involved in all stages<strong>of</strong> the process, were given the task <strong>of</strong> fusingtogether our findings with their creative insights.“A successful logo requires two importantingredients: it needs to be simple <strong>and</strong> meaningful,”says Bob Hambly, Creative Director atHambly & Woolley. “From the research it becamevery clear that this organization is bold <strong>and</strong>embraces change, <strong>and</strong> we wanted that optimismto be reflected in this new logo.”After producing a wide selection <strong>of</strong> variouslogos, they submitted 10 to the PDAC for areview. That list was then trimmed to two, <strong>and</strong> afinal mark was chosen internally by the PDACleadership team. The final logo reflected thefollowing attributes:• Multi-faceted: Like our association it representsthe breadth <strong>and</strong> depth <strong>of</strong> our programs,initiatives <strong>and</strong> membership;• Dimensional: It references the topography,geology <strong>and</strong> geography <strong>of</strong> what we do <strong>and</strong>where we do it;• Flexible: Its application <strong>and</strong> components canbe used separately or as a whole (i.e., individuals<strong>and</strong> communities);• Modern: Focused, bold <strong>and</strong> forward in itsexpression.With the last colour changes made to the logoonce the design was in place, it was broughtto the board <strong>of</strong> directors meeting on December14, 2012, to receive approval. The logo was thelast agenda item on the list <strong>and</strong> introduced via avideo presentation that showcased the strengths<strong>of</strong> the industry, our role as an association, <strong>and</strong>the br<strong>and</strong>ing process itself. When the video wascompleted <strong>and</strong> the logo unveiled, the room brokeinto a loud applause. The various past Presidents<strong>and</strong> board members asked insightful questions,probed about the design’s meaning, <strong>and</strong> laudedits relevance. Shortly after, a motion was passedto approve the new logo, <strong>and</strong> the PDAC’s newidentity came into existence—an identity thatwill proudly reflect the association’s status as thepremier voice <strong>of</strong> <strong>Canada</strong>’s mineral explorationcommunity for many years to come.<strong>Annual</strong> <strong>Report</strong> 20129
PDAC 2012CONVENTION STATISTICSGeneral InformationTotal number <strong>of</strong>convention attendees: 30,369Percentage <strong>of</strong> internationalattendees: 25Outside <strong>Canada</strong> the largestnumber <strong>of</strong> attendees camefrom: United States <strong>of</strong>America, Australia, Engl<strong>and</strong>Peru, ChinaNumber <strong>of</strong> countriesrepresented: 125Where theworld’sMineralIndustrymeetsPDACconventionNumber <strong>of</strong> studentdelegates: 1,694Number <strong>of</strong> accreditedmedia: 363Number <strong>of</strong> sponsors: 68Trade ShowTotal number <strong>of</strong> booths: 668Total number <strong>of</strong>exhibitingorganizations: 412Number <strong>of</strong> governmentsexhibiting (provincial,federal, international): 63Core ShackTotal number <strong>of</strong>exhibiting companies: 60Investors ExchangeTotal number <strong>of</strong> booths: 613Total number <strong>of</strong>exhibitingorganizations: 582Presentations <strong>and</strong> WorkshopsTotal number <strong>of</strong>Technical Sessions: 16Total number <strong>of</strong> ShortCourses <strong>and</strong> Workshops: 12Total number <strong>of</strong>Presentation Rooms: 19Total number <strong>of</strong> CorporatePresentation Forum forInvestors presentations: 132Total number <strong>of</strong> InnovationForum presentationsorganized by CAMESE : 23Mobi StatsTotal visits tothe site: 10,030Number <strong>of</strong> countriesvisitors were from: 45Total pageviews: 67,253Pages viewed per visit: 6.71Average time spent onthe site: 4 min 36 s10 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
PDAC ConventionAsk any delegate why they attend the PDAC InternationalConvention, Trade Show & Investors Exchange <strong>and</strong> chances arethey will point to the numerous opportunities available to networkwith global leaders from the mineral exploration industry. It’s alsoone <strong>of</strong> the main reasons why overall attendance at the conventionhas steadily increased with each passing year.In 2012, more than 30,000 delegates attended the four-dayevent (compared to 27,700 in 2011), making it the largestPDAC Convention ever. And <strong>of</strong> that total number, approximately7,000 were international representatives from 125 countries.An impressive statistic when you consider that the conventionattracted a gr<strong>and</strong> total <strong>of</strong> 2,300 delegates in 1992—the firstyear it was opened to the world—with a mere 37 delegates onh<strong>and</strong> from 10 countries.Nicole Sampson, PDAC’s Convention Director, says that growthin the convention’s international presence—especially from LatinAmerica, China <strong>and</strong> India—has resulted in a greater number <strong>of</strong>global-minded programs <strong>and</strong> services being <strong>of</strong>fered during theevent. Evidence <strong>of</strong> this can be found in the record number <strong>of</strong> presentationsgiven by various governments at PDAC 2012 on topicsranging from global investment opportunities, to new discoveries<strong>and</strong> development, <strong>and</strong> insights on communication strategies.And to assist international delegations in getting the mostout <strong>of</strong> their convention experience, Sampson <strong>and</strong> her team <strong>of</strong>organizers continue to keep track <strong>of</strong> international groups in orderto invite key members to private events where they can networkwith global counterparts.“Because it can also be difficult for some international delegatesto obtain visas to attend the convention, the PDAC <strong>of</strong>fers an onlineform to request an international invitation letter,” says Sampson.She adds that the mobile application Mobi, which was launchedlast year at convention, is furthering the convention experience byenabling participants to download everything from programschedules to exhibits <strong>and</strong> technical sessions.“Delegates are constantly on their smartphones, so we figuredsuch an app would improve their experience by making it moreconvenient than searching through the printed conventionprogram,” she adds. And if someone needs help using the app,Mobi Masters are on site at the convention to lend a h<strong>and</strong>.Because he views it as the premier world convention for theindustry, Ian Sutherl<strong>and</strong>, Coordinator <strong>of</strong> the Australia Pavilion,hasn’t missed the event since 1998. In fact, Australia’s national <strong>and</strong>state governments have been promoting the country as a prospective<strong>and</strong> reliable site for exploration <strong>and</strong> mining investment formore than a decade.“There are deals being made constantly at theconvention,” says Sampson. “I frequently seepeople rolling maps out on the floor <strong>and</strong> squattingaround them to have an impromptu meetingin a hallway. It’s fun to watch <strong>and</strong> we’ve addedmore venues for people to actually sit <strong>and</strong> meet.These meetings can happen in a comfortablelounge setting or in a private meeting space thatcan be booked for one-hour blocks.”The extra meeting space may prove useful forthe Finnish delegation. Dr. Pekka A. Nurmi, whohas headed the Finnish entourage for nearlytwo decades, believes that in addition to theconvention being a great venue for forging <strong>and</strong>strengthening international contacts, it alsoserves as a practical way for the managementheads <strong>of</strong> Finnish companies to meet annually.“There is currently a mining boom in Finl<strong>and</strong>.In the past, many <strong>of</strong> the companies with explorationor mining projects [in Finl<strong>and</strong>] have met atPDAC Convention for the first time,” says Nurmi.“Personally, I think the event provides the bestway to update myself on global developments,new expertise <strong>and</strong> techniques.”For David Corrigan, Sales Manager at AustraliabasedIntrepid Geophysics, a company that providess<strong>of</strong>tware <strong>and</strong> related services to potential fieldgeophysics applications, showcasing the company’slatest advanced s<strong>of</strong>tware for specialized, quantitativegeology <strong>and</strong> geophysics applications is whythe convention is so important to his business.“As the conference is held in North America itenables us to provide a face-to-face interactionwith our international customer base as well,”says Corrigan. “In conjunction with the conference,IG runs targeted workshops tailored tomeet specific customer requirements.”Delegates wanting to participate in knowledgeseminars crafted by industry experts have alwaysfound the Commodities <strong>and</strong> Market Outlook presentations(25-minute talks on the global outlook<strong>of</strong> major metals <strong>and</strong> minerals) <strong>of</strong> interest.At PDAC 2013 there will also be a session onl<strong>and</strong> access challenges <strong>and</strong> solutions, another onlarge igneous provinces <strong>and</strong> metallogeny, as wellas a keynote session that will explore the risks <strong>and</strong>rewards in mining exploration <strong>and</strong> development.Whether it’s new food services or exp<strong>and</strong>ingthe frequency <strong>of</strong> shuttle bus routes betweenhotels <strong>and</strong> the venue, Sampson says her teamtries to add something new every year to enhancethe overall experience for each delegate.“All in all I hope delegates enjoy their time <strong>and</strong>can take something away from the program,”says Sampson. “And <strong>of</strong> course want to come backagain next year.”— By Susan Mohammad<strong>Annual</strong> <strong>Report</strong> 201211
PDAC Conventioneconomicimpact <strong>of</strong> thePDAC ConventionWords like “mammoth” <strong>and</strong> “monster” havebeen used to describe the size <strong>of</strong> the <strong>Prospectors</strong>& <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>’s (PDAC)Convention, the mineral industry’s most popularnetworking <strong>and</strong> educational event.The convention’s size is impressive. Held in thesouth building <strong>of</strong> the Metro Toronto ConventionCentre (MTCC), the convention attracted 30,000delegates in 2012—a record number. No otherannual convention for mineral exploration <strong>and</strong>mining draws a crowd <strong>of</strong> this size.The convention’s attendance figures areremarkable, but it’s the story <strong>of</strong> the convention’simpact that hasn’t been told. The impact <strong>of</strong> theconvention on the local economy is one chapter<strong>of</strong> the story.A 2011 study conducted by the OntarioMinistry <strong>of</strong> Tourism estimated that the event contributednearly $72 million to the local economy.Some 27,700 people attended the conventionthat year. A rough extrapolation for 2012 puts thefigure close to $78 million.That this is no small sum is reflected in whattourism <strong>of</strong>ficials like David Whitaker, President<strong>and</strong> CEO <strong>of</strong> Tourism Toronto, have to say aboutthe convention. “Having the PDAC chooseToronto year after year for its annual conventionis a real honour for us,” Whitaker says. “Whenmore than 30,000 people from mining <strong>and</strong>related industries all over the world come here toenjoy our hotels, restaurants, nightlife, entertainment<strong>and</strong> taxis, it’s a great shot in the arm for thecity <strong>and</strong> the 227,000 people employed in tourism<strong>and</strong> hospitality here.”The convention, now in its 81st year, attractsindividuals, companies <strong>and</strong> governmentsinvolved in the mineral exploration sector fromall over the globe. What the four-day event doesfor the industry is probably the biggest chapterin the story <strong>of</strong> the convention’s impact.“The convention really is a ‘must-attend event’for large numbers <strong>of</strong> mineral industry <strong>and</strong> servicesector companies. Over the years it’s grown intothe industry’s premier event, as evidence by thefact that last year we had more than 30,000 participantsfrom 125 different countries” says PDACPresident Glenn Nolan. “No other industry eventin the world comes close to the PDAC Conventionin terms <strong>of</strong> programs <strong>of</strong>fered, companies <strong>and</strong>countries present, <strong>and</strong> overall the number <strong>of</strong>delegates attending.”In the early 1990s, the mineral explorationsector was booming, which provided an opportunityto take the convention international. Since12 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
PDAC Convention“ When more than 30,000 people from mining <strong>and</strong>related industries all over the world come hereto enjoy our hotels, restaurants, nightlife, entertainment<strong>and</strong> taxis, it’s a great shot in the arm for the city.”— David Whitaker, President <strong>and</strong> CEO, Tourism Torontothen, the PDAC Convention has become theglobal networking opportunity for the industry.The PDAC’s Executive Director Ross Gallinger,who came on board in August 2011, experiencedthe convention from the inside for the first timein 2012. Having been part <strong>of</strong> the mineral explorationindustry for years <strong>and</strong> a regular conventiondelegate, Gallinger says the convention hasbecome “a massive focal point for the juniorexploration sector.”“The convention fosters information-sharing<strong>and</strong> relationship-building that impacts theindustry throughout the rest <strong>of</strong> the year,” he says.“The networking that goes on during those fourdays results in countless new relationships <strong>and</strong>ideas, reinforces current partnerships <strong>and</strong> setsthe stage for a great many deals.”The PDAC 2011 Convention was the springboardfor a deal signed later in the year betweenStrait Gold <strong>and</strong> Teck Resources. Strait GoldPresident Jim Borl<strong>and</strong> says his company’s signedoption agreement with Teck Resources for itsAlicia copper-gold property in Peru “originated atthe annual PDAC Convention.”At the 2011 convention, Strait Gold had coreon display from Alicia that attracted a lot <strong>of</strong>attention. Borl<strong>and</strong> says Strait Gold signedseveral confidentiality agreements after theconvention. Offers for Alicia followed, <strong>of</strong> whichTeck’s was the superior.For years the convention took place at theFairmont Royal York, moving to the MTCC in1997 as the convention continued to grow.Much <strong>of</strong> its history though is tied in with theFairmont Royal York, <strong>and</strong> evening events like theAwards Evening <strong>and</strong> the Gala Party still takeplace at the hotel.Irene Butterworth, Senior Conference Services<strong>and</strong> Catering Manager at the Fairmont RoyalYork, says the convention is a big part <strong>of</strong> thehotel’s history. “Legendary deals have beensecured <strong>and</strong> notable business partnerships havebeen launched within our walls—it’s just as mucha part <strong>of</strong> our history as we are <strong>of</strong> its history.”Members <strong>of</strong> the industry are also clear onhow they feel about the convention. “PDACbrings together explorers, developers <strong>and</strong>producers for what is arguably the global miningindustry’s most important event <strong>of</strong> the year,”says Rob Krcmarov, Barrick Gold’s Senior VicePresident <strong>of</strong> Global Exploration. “Our team isalways on the hunt for promising projects, <strong>and</strong>PDAC <strong>of</strong>fers up a universe <strong>of</strong> opportunities underone ro<strong>of</strong>. There’s no other forum like it.”— By Carolyn Fusina<strong>Annual</strong> <strong>Report</strong> 201213
ClockWise from top left: Mining Matters workshop; JoeOliver, Minister <strong>of</strong> Natural Resources, <strong>and</strong> PDAC ExecutiveDirector Ross Gallinger; ICMM President Tony Hodge speakingat the CEO Panel; Skookum Jim Award presentation toNuna Group Companies; core samples on display at the CoreShack; Gala Party entertainment; Canadian Government<strong>of</strong>ficials at the e3 Plus booth; a packed house at the Student-Industry Forum; examining rock samples at the Core Shack;above the Investors Exchange floor.14 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
highlights fromthe pdac 2012convention<strong>Annual</strong> <strong>Report</strong> 201215
From growing our international pr<strong>of</strong>ile <strong>and</strong> hostinganother record-breaking convention, the PDAC celebratedits 80th anniversary by demonstrating once again whythe association is regarded as the leading voice forthe mineral exploration <strong>and</strong> development community.Below are some <strong>of</strong> the key highlights from each <strong>of</strong> ouractive committees <strong>and</strong> program areas from the past year.PDAC high lightsfor 2012Convention• The PDAC 2012 Convention was anotherrecord-breaking event that attracted morethan 30,000 attendees from 125 countries,including more than 1,000 exhibitors that werepart <strong>of</strong> the Trade Show expansion.• The convention saw the successful launch <strong>of</strong>the Mobile Convention Guide (MOBI),with 10,030 visits to the site. MOBI, aneco-friendly, interactive app took the conventionexperience to a whole new level byenabling delegates to navigate everythingfrom exhibits to technical sessions.International• PDAC’s international pr<strong>of</strong>ile was againstrengthened in 2012 with attendance <strong>and</strong>participation at key conferences in China,South America, Australia <strong>and</strong> South Africa.• The PDAC br<strong>and</strong> is now well recognizedinternationally, <strong>and</strong> through our variouspromotional efforts the PDAC Conventionremains the “must-attend” event on theinternational circuit.• Promoting <strong>Canada</strong> as an excellent place toinvest in mining exploration <strong>and</strong> as a centre<strong>of</strong> excellence in mining st<strong>and</strong>ards, knowledge<strong>and</strong> finance continued to be one <strong>of</strong> thepriorities <strong>of</strong> the PDAC in 2012.• PDAC maintains a vibrant presence as amember <strong>and</strong> participant at InternationalCouncil on Mining <strong>and</strong> Metals (ICMM) meetingsin London, UK, where vital policy <strong>and</strong> trendsaffecting the mining industry are discussed.• PDAC Executive Director Ross Gallinger wasnamed in Embassy’s “Top 80 Influencing<strong>Canada</strong>’s Foreign Policy.”16 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
highlights from the past yearMembership• The PDAC continued to see significant growthin its membership. Corporate membershipincreased 15% to 1,270 in 2012, while individualmembership increased 17% to 9,021.• Student membership increased by more than47%, the largest annual increase to date. Thiscan be attributed to the nation-wide campus<strong>and</strong> conference outreach events, social medianetworking, <strong>and</strong> S-IMEW alumni presentations.• The Core membership program, an initiativethat rewards loyal members with significantdiscounts on membership <strong>and</strong> conventionregistration fees, continued to maintain steadygrowth. To date, the PDAC has more than2,400 Core members in the association.2,400Core membersin theassociation.Health <strong>and</strong> Safety• The PDAC developed, produced <strong>and</strong> deliveredthe PDAC Field Safety Pocket Guide on waterresistant/tear-pro<strong>of</strong> paper in French, Spanish<strong>and</strong> English. The guide features a variety <strong>of</strong>fieldwork practices to increase awareness<strong>and</strong> prevention around the risks, hazards <strong>and</strong>dangers inherent in exploration work.• The association successfully held PDAC FirstAid Wilderness Training sessions at six locationsacross <strong>Canada</strong> (Toronto, Thunder Bay,Sudbury, Val d’Or, Winnipeg <strong>and</strong> Yellowknife).• We continued to collaborate with the<strong>Association</strong> for Mineral Exploration BritishColumbia (AME BC) in producing the jointCanadian Mineral Exploration Health & Safety<strong>Annual</strong> <strong>Report</strong> for 2011/2012.Corporate SocialResponsibility (CSR)• The CSR committee undertook a comprehensiveupdate <strong>of</strong> the Principles <strong>and</strong> GuidanceNotes <strong>of</strong> e3 Plus: A Framework for ResponsibleExploration. As a free information resourceavailable on the PDAC website, e3 Plus wasdesigned to help exploration companiescontinuously improve their social, environmental,<strong>and</strong> health <strong>and</strong> safety practices.The Principles <strong>and</strong> Guidance Notes areavailable online <strong>and</strong> in a h<strong>and</strong>y pocketsizebooklet in English, French <strong>and</strong> Spanish.• Participation in the CSR Event Series at the2012 PDAC Convention was at an all-timehigh. Attendance at all six sessions was atmaximum capacity, with between 100 <strong>and</strong>250 people from industry, government,academia, <strong>and</strong> civil society participating insessions on topics ranging from business <strong>and</strong>human rights to bribery <strong>and</strong> corruption.• Through the CSR Program, the PDAC partneredwith World Vision <strong>Canada</strong> <strong>and</strong> CDACollaborative Learning Projects to develop atoolkit on preventing conflict in exploration.This project brought together key industry <strong>and</strong>development stakeholders to create a practicaltool supporting exploration companies inbuilding constructive relationships withstakeholders at the community level. Thetoolkit is available on the PDAC website inEnglish, French <strong>and</strong> Spanish.<strong>Annual</strong> <strong>Report</strong> 201217
highlights from the past yearHuman Resource Development• Student attendance at the PDAC 2012Convention was at its peak with more than1,600 students. The PDAC provided travelfunding support to more than 500 students toattend the convention, which included24 Canadian student groups <strong>and</strong> fourAmerican student groups. For the first timeever, the Student-Industry NetworkingLuncheon was sold out (capped at 1,000tickets) <strong>and</strong> the Student-Industry Forum, anew event this year, was st<strong>and</strong>ing-room only.• The sixth annual Student-Industry MineralExploration Workshop (S-IMEW) in Sudbury,Ont., was yet another success. The workshopwould not be possible without the outst<strong>and</strong>ingsupport <strong>of</strong> our loyal volunteers who return yearafter year to share their wisdom <strong>and</strong> experiencewith the future generation <strong>of</strong> our industry,as well as the financial support that we receivefrom industry that allows us to put on thisworkshop at no cost to students. Sponsorshiphas increased over the last couple years,which speaks to the increasing pr<strong>of</strong>ile <strong>of</strong> theworkshop <strong>and</strong> recognition <strong>of</strong> the valueconferred to students.• For the first time ever, the PDAC partnered withthe Mining Industry Human Resource Council(MiHR) to host a Virtual Mineral Exploration<strong>and</strong> Mining career fair. The fair went live onFebruary 8 <strong>and</strong> 9, 2012, <strong>and</strong> was a hugesuccess, with over 1,200 careers seekersvisiting the fair over the course <strong>of</strong> the two days.The fair remained open for a week <strong>and</strong> careerseekers had the opportunity to chat withrepresentatives from companies that exhibited,<strong>and</strong> with other job seekers as well. Over1,000 jobs were applied for <strong>and</strong> 70% <strong>of</strong> thecompanies said they would hire a c<strong>and</strong>idatebased on resumes received. The career fair wassponsored by Barrick Gold Corporation,IAMGOLD, SGS <strong>Canada</strong> Inc., Teck ResourcesLtd. <strong>and</strong> Vale, <strong>and</strong> featured 23 exhibitors—95%<strong>of</strong> which said they would participate again.Aboriginal Affairs• Aboriginal affairs provided a comprehensivereview <strong>and</strong> revision <strong>of</strong> the Exploration <strong>and</strong>Mining Guide for Aboriginal Communities withindustry, government <strong>and</strong> Aboriginal partners.• Drafted an Engagement Protocol for FirstNations Communities, which is now in thepilot-testing phase.• Engaged in further dialogue with the Assembly<strong>of</strong> First Nations on updating <strong>and</strong> refreshing theworkplan from the PDAC-AFN Memor<strong>and</strong>um <strong>of</strong>Underst<strong>and</strong>ing.• Participated in information sharing, networking<strong>and</strong> ensuring a PDAC presence at national<strong>and</strong> regional conferences <strong>of</strong> Aboriginalleaders, communities <strong>and</strong> organizations• Exp<strong>and</strong>ed the Aboriginal Program at the PDAC2012 Convention, which hosted more than 500self-identified Aboriginal delegates.Geoscience• The Geoscience committee continued toconduct research <strong>and</strong> collaborate withnumerous national <strong>and</strong> provincial geosciencesorganization, including the development <strong>of</strong> aresearch study entitled “Digital Capture<strong>of</strong> Exploration Assessment Data” on thedata reporting requirements in <strong>Canada</strong> <strong>and</strong>other jurisdictions.• Committee chair Richard Moore gave apresentation to the House <strong>of</strong> CommonsSt<strong>and</strong>ing Committee on Natural Resourceson the importance <strong>of</strong> government investmentin geosciences.• Members <strong>of</strong> the committee participated inmeetings with various geoscience organizations,including the Canadian MiningInnovation Council, Canadian Federation <strong>of</strong>Earth Sciences <strong>and</strong> Geoscientists <strong>Canada</strong>.18 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
highlights from the past yearPDAC ExecutiveDirector RossGallinger named inEmbassy’s “Top 80Influencing <strong>Canada</strong>’sForeign Policy.”Public Affairs & communications• The Media Reception at PDAC 2012 was anenormously successful premier event thatbrought together more than 200 international<strong>and</strong> domestic media, industry leaders, <strong>and</strong>some <strong>of</strong> <strong>Canada</strong>’s political elite.• The PDAC gained a positive <strong>and</strong> influentialposition this past year in both domestic<strong>and</strong> international media outlets, includingCanadian Business, the Globe <strong>and</strong> Mail,National Post, Bloomberg <strong>and</strong> the CBC. Oursocial media influence grew substantially,generating nearly 2,500 Twitter followers <strong>and</strong>600 Facebook fans, <strong>and</strong> more than 5,000 views<strong>of</strong> PDAC-related videos.• During the year there was an intense focus onimproving the association’s published content.Through digital <strong>and</strong> print publications, thePDAC leveraged a more sophisticated, strategicapproach to developing content to ensureimproved messaging <strong>and</strong> higher calibre content.In the upcoming year, the PDAC will release it’sfirst comprehensive <strong>Annual</strong> <strong>Report</strong> (which youare currently reading) <strong>and</strong> will be redevelopingpublications such as e-News <strong>and</strong> In Brief t<strong>of</strong>urther enhance our ability to deliver newsabout the association’s activities, <strong>and</strong> to underscorethe PDAC’s position as an industry leader.Audit• The Audit committee reviewed <strong>and</strong> approvedthe quarterly unaudited financial statementsfor issuance to the board <strong>of</strong> directors.• The committee reviewed <strong>and</strong> recommendedto the board <strong>of</strong> directors that they approve theannual audited financial statements <strong>and</strong> theauditor’s report thereon for issuance to thePDAC membership.• In addition, they reviewed <strong>and</strong> approved thecalculation <strong>of</strong> the internally restricted net assetreserves, as well as the the auditor’s audit planfor the fiscal year-end financial statements,<strong>and</strong> provided guidance to management withrespect to financial issues as needed.Finance <strong>and</strong> Taxation• The focus <strong>of</strong> the Finance <strong>and</strong> Taxation committeewas advocacy for the extension <strong>of</strong> theMineral Exploration Tax Credit (METC). Thecommittee was successful in seeing the METCextended to March 31, 2013, <strong>and</strong> the goalcontinues to be to advocate for the extension <strong>of</strong>the METC in an effort to make it a permanentfixture. The committee submitted briefs <strong>and</strong>research to support the extension <strong>of</strong> the METC.• The committee continued to work with <strong>Canada</strong>Revenue Agency to clarify the rules <strong>of</strong> Eligibility<strong>of</strong> the Canadian Exploration Expense,particularly around community consultation<strong>and</strong> baseline environmental expenses. Thiswork will continue throughout 2013.• The committee also examined <strong>and</strong> providedcomment on the potential impacts <strong>of</strong> theForeign Affiliate Dumping (FAD) measures, astabled in the second Budget ImplementationBill, <strong>and</strong> provided suggestions on how theymight be amended to avoid inadvertentlycatching junior exploration companies.L<strong>and</strong>s <strong>and</strong> Regulations• The PDAC 2012 Convention featured its firstl<strong>and</strong> management program in over a decade,<strong>of</strong>fering both a technical session on l<strong>and</strong>access <strong>and</strong> a full-day short course. “A PracticalGuide to L<strong>and</strong> Management in <strong>Canada</strong>”brought provincial <strong>and</strong> territorial regulatorstogether to provide detailed presentations ontheir respective jurisdictions to participants.The PDAC developed a comprehensive referenceguide to early exploration regulationsacross <strong>Canada</strong>, now used as a resource documentby the Library <strong>of</strong> Parliament, ForeignAffairs Department <strong>and</strong> others.• The association provided collaborativeleadership on an unprecedented number<strong>of</strong> regulatory changes across the countryduring the past year through written submissions<strong>and</strong> advocacy on federal, provincial <strong>and</strong>territorial issues <strong>of</strong> concern to the mineralexploration industry. Examples include theMackenzie Valley Resource Management Act,the Mackenzie Valley L<strong>and</strong> <strong>and</strong> Water BoardEngagement Policy, the Nunavut WatersRegulations, Bill 14 in Quebec, <strong>and</strong> the OntarioMining Act Regulations.• The PDAC has also deepened its l<strong>and</strong> useplanning <strong>and</strong> l<strong>and</strong> access position statementthrough written submissions <strong>and</strong> advocacyon federal l<strong>and</strong> use planning initiatives, suchas the National Conservation Strategy, <strong>and</strong>the Proposed National Woodl<strong>and</strong> CaribouRecovery Strategy.<strong>Annual</strong> <strong>Report</strong> 201219
LOREM IPSUM SIT AMET CONSECETEURSThank you toall our sponsors!Patron SponsorBarrick Gold Corp.Gold SponsorsCliffs Natural Resources,Goldcorp Inc. (Porcupine Gold Mines),HudBay Minerals, Osisko Mining Corp.,Swick Drilling North America, Vale,Votorantim Metals <strong>Canada</strong> Inc.Silver SponsorsCIM, GAC (Mineral DepositsDivision), Sprott Inc., True ClaimExploration Inc.An insidelook atS-IMEW 2012Bronze SponsorsACA Howe International,Caracle Creek, Everton Resources,New Gold Inc., TMX Group, NorthernSkye Resources Ltd., Unigold Inc.Workshop SponsorsAPGO, CanAlaska Uranium Ltd.,Temex Resources Corp.In-Kind ContributorsAll Seasons Travel, Brigus Gold,C.J. Stafford & Associates, CogitoreResources Inc., DGI Geoscience Inc.,Foran Mining Corporation, Fox HighImpact Consulting, GeologicalSurvey <strong>of</strong> <strong>Canada</strong>, Geophysics GPRInternational, Grenvyn ConsultingInc., HanOcci Group Inc., JenningsCapital Inc., KGHM International,Laurentian University, OntarioGeological Survey, OntarioSecurities Commission, ProFormaAdams Promotions, Queenston MiningInc., Scintrex, Wallbridge MiningCompany Ltd., Xstrata Nickel.20 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
s-imew 2012This past May, 26 senior geoscience studentsfrom across <strong>Canada</strong> converged on the GreaterSudbury area for the PDAC’s annual Student-Industry Mineral Exploration Workshop(S-IMEW). The two-week gathering gave thestudents, who were h<strong>and</strong>picked from postsecondaryinstitutions across the country, anopportunity to experience the many facets <strong>of</strong> themineral exploration industry.“The event is designed to attract students tothe mineral exploration industry <strong>and</strong> to givethem a practical <strong>and</strong> business perspective <strong>of</strong>mineral exploration not generally available in theclassroom,” says Scott Jobin-Bevans, PDACpast President <strong>and</strong> co-founder <strong>of</strong> the workshop.“This country is a world leader in mineralexploration. If we are to retain this predominantposition, we must do everything we can toencourage highly qualified young people to enterthe industry. The students attending thisworkshop are our future leaders.”Word from Sudbury is that this year’s workshopwas the best one yet. Eira Thomas, PDACDirector <strong>and</strong> co-founder <strong>of</strong> Stornoway Diamonds,kicked <strong>of</strong>f the workshop with an opening keynotepresentation at Dynamic Earth that left thestudents in awe <strong>of</strong> her accomplishments <strong>and</strong>motivated to pursue a career in geology. Onestudent commented that “it was inspiring to hearfrom a female geologist who accomplished somuch <strong>and</strong> she serves as a very powerful rolemodel for the women in the group.”During the first week <strong>of</strong> S-IMEW, studentsspent a day grid mapping at True Claim’sScadding Gold Mine site, toured the XstrataNickel smelter, spent a day learning governmentmapping with the Ontario Geological Survey(OGS), toured the Sudbury Basin, <strong>and</strong> listened toa rich lineup <strong>of</strong> speakers. During GeochemistryDay, a highlight <strong>of</strong> the two-week workshop,students set out by boat to take sedimentsamples from the bottom <strong>of</strong> Ramsey Lake <strong>and</strong>participated in a series <strong>of</strong> lab <strong>and</strong> outdoorgeochemistry demonstrations.S-IMEW participant Rachel Chouinard fromBrock University says the workshop helped tocrystallize her career goals. “The experience hasdefinitely showed me this is the career I want tobe in for the rest <strong>of</strong> my life,” says Rachel. “Theworkshop talks are extremely interesting, butto get outside <strong>and</strong> apply what we’re learning isinvaluable experience.”Students also had the opportunity to engagewith industry partners <strong>and</strong> academics almostevery evening with the larger events being theWelcome Reception, Grillin’ n Drillin’ BBQ <strong>and</strong>the gr<strong>and</strong> finale, the Closing Dinner.During the second week <strong>of</strong> S-IMEW, studentstook part in a four-day field trip to the AbitibiGreenstone Belt. It included a tour <strong>of</strong> theTimmins geology, a visit to Queenston Mining,Brigus Gold’s Black Fox open pit gold mine, atour <strong>of</strong> the Nor<strong>and</strong>a camp in Quebec, <strong>and</strong> amapping exercise with Dr. Harold Gibson <strong>of</strong>Laurentian University.The workshop ended with a Closing dinnerthat featured Dr. Patrick Moore, Greenpeaceco-founder <strong>and</strong> author <strong>of</strong> Confessions <strong>of</strong> aGreenpeace Dropout: the Making <strong>of</strong> a SensibleEnvironmentalist.It is difficult to truly measure the value <strong>of</strong> thisexperience as the benefits can be reaped for theduration <strong>of</strong> their career, but perhaps it can besummed up in one student’s words. “Overall,one <strong>of</strong> the best experiences <strong>of</strong> my life. This triphas been a great inspiration to pursue a careerin the mineral exploration industry <strong>and</strong> hasexposed me to so many facets <strong>of</strong> it that I neverknew about. The content was great <strong>and</strong> taughtme about things people have taken their wholelives to discover <strong>and</strong> would never have learnedin school. Thanks you so much for this opportunity<strong>and</strong> all the hard work put into making thistrip possible”.— By Krishana Michaud<strong>Annual</strong> <strong>Report</strong> 201221
AboriginalEducation<strong>and</strong> OutreachPrograms22 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
mining mattersWith each passing year the dem<strong>and</strong> for MiningMatters’ Aboriginal Education <strong>and</strong> Outreach programmingcontinues to grow, <strong>and</strong> 2012 was noexception. In April, Barbara Green Parker, MiningMatters’ Manager <strong>of</strong> Aboriginal Education <strong>and</strong>Outreach Programs, teamed up once again withAm<strong>and</strong>a McCallum, Outreach Geologist for theNewfoundl<strong>and</strong> Department <strong>of</strong> Natural Resources,to deliver a series <strong>of</strong> student-oriented workshopsin schools on the coast <strong>of</strong> Labrador in the remoteareas as Sheshatshiu, Nain, Hopedale, Makkovik,Postville <strong>and</strong> Rigolet. As one <strong>of</strong> several key elements<strong>of</strong> the Geological Survey’s Minerals <strong>and</strong>Geoscience Outreach program, this educationalinitiative complements the rocks <strong>and</strong> mineralscomponent <strong>of</strong> Newfoundl<strong>and</strong> <strong>and</strong> Labrador’sGrade 4 <strong>and</strong> 7 curriculums.The Aboriginal Education <strong>and</strong> Outreach program’ssignature event, the Mining Rocks EarthScience Camp, was in high dem<strong>and</strong> this yearwith more than 20 requests for camps during thesummer season. As time <strong>and</strong> available resourceswould allow, 12 camps were delivered to 384 participantsin 11 different communities—TadouleLake, Manitoba, Baker Lake, Nunavut, <strong>and</strong>throughout Ontario in Attawapiskat, WunnuminLake, Round Lake, Red Lake, Lac Seul, Upsala,Cochrane, Fort Frances, Timmins <strong>and</strong> Massey.Through field visits, classroom activities <strong>and</strong>lessons, community members were given thechance to learn about a range <strong>of</strong> topics, fromEarth processes <strong>and</strong> structure, to GPS compasswork, health <strong>and</strong> safety, as well as mining operations,geochemistry <strong>and</strong> biodiversity. In addition,they learned about various career opportunitiesin the minerals <strong>and</strong> aggregates industries.Mining Matters’ commitment to broader communityengagement <strong>and</strong> outreach also allowed us toreach an additional 440 members <strong>of</strong> First Nationscommunities through Community Night eventsthat provided engaging, informative activitiesrelated to what was being taught at the camps.While the camps are <strong>of</strong>ten sponsored bycompanies that operate near First Nations, thecommunities themselves are increasingly takingadvantage <strong>of</strong> the unique programs <strong>and</strong> opportunitiesthat Mining Matters delivers. This year,the Sagamok First Nation community, located onthe north shore Lake Huron, sponsored a MiningMatters first: a specialized week-long schoolprogram held in September that was similar tothe summer camp programs, <strong>and</strong> that receiveda highly enthusiastic response from youth <strong>and</strong>teachers alike. Our supporters, as well as thecommunities we serve, are taking great pridein knowing that when they contribute to <strong>and</strong>engage in the programs delivered by MiningMatters they are investing in a sustainable <strong>and</strong>prosperous future for one <strong>of</strong> <strong>Canada</strong>’s mostimportant economic drivers.The Aboriginal Education <strong>and</strong> Outreachprogram moved straight from its summer programmingto planning <strong>and</strong> delivering 10 MineralExploration <strong>and</strong> Development workshopsbetween September <strong>and</strong> November. The six-hourworkshops, funded by the Ontario Ministry <strong>of</strong>Northern Development <strong>and</strong> Mines (MNDM),looked at the mining cycle, the importance<strong>of</strong> mining, <strong>and</strong> its significance to Aboriginalcommunities. The workshops were deliveredin the northern Ontario First Nation communities<strong>of</strong> Mishkeegogamang, Cat Lake, SlateFalls, Wunnumin Lake, Nibinamik, ConstanceLake, Marten Falls, Webequie, Neskantaga <strong>and</strong>Attawapiskat. The program was complementedby an additional three-hour presentation byMNDM representatives who oversee legislation<strong>and</strong> regulations within the industry, <strong>and</strong> answerinquiries regarding specifics to the region.As Mining Matters further exp<strong>and</strong>s into otherdiverse communities across <strong>Canada</strong>, we arecontinually searching for ways to make our materials<strong>and</strong> resources as relevant <strong>and</strong> accessibleas possible. One area where this is happeningis through the translation <strong>of</strong> our popular MiningMakes It Happen education posters into Cree,Ojibwe <strong>and</strong> Oji-Cree, making them more usefulto the populations we serve in communitiesacross the north whose first language or workinglanguages aren’t English or French.Mining Matters is excited about the opportunitiesthis exp<strong>and</strong>ed reach will bring in 2013. TheAboriginal Education <strong>and</strong> Outreach programs’top priority now is to ensure that we have thecapacity to meet the growing dem<strong>and</strong> for ourprogramming. Continue to look for us across thecountry as we engage Canadians in their communities,<strong>and</strong> spread the message that MiningMatters to us all!— By Am<strong>and</strong>a Horn<strong>Annual</strong> <strong>Report</strong> 201223
Mining Matterstakes <strong>of</strong>f in Quebec´Mining Matters has made great inroads acrossthe country by tailoring their earth science educationalresources to meet the needs <strong>of</strong> differentprovincial <strong>and</strong> territorial curriculum, conductingdozens <strong>of</strong> Aboriginal camps, <strong>and</strong> participating incountless public outreach events. Now, they areexp<strong>and</strong>ing into Quebec <strong>and</strong> striving to meet theneeds <strong>of</strong> teachers in the province.Over the last 10 years, the Ministry <strong>of</strong>Education in Québec has been reforming itseducational system by moving toward a studentcentredmodel <strong>of</strong> learning that allows educatorsto integrate a variety <strong>of</strong> approaches. Theprovince’s new education model spreads earthscience objectives throughout the elementaryprogram into the secondary school years ratherthan compartmentalizing them into a singlegrade level. This means that earth science istaught at every grade level in Québec!In June 2010, Mining Matters was invited toattend the Science-Technology, Engineering <strong>and</strong>Math (STEM) Conference as an observer forsecondary school teachers from the nineAnglophone school boards <strong>and</strong> associations.There, they learned that little was available toQuébec teachers in the way <strong>of</strong> h<strong>and</strong>s-on earthscience student-centred learning resources—a gap Mining Matters could potentially fill.To do so, they planned three focus groups toassess the relevance <strong>of</strong> our resources to theQuébec curriculum.24 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
mining mattersOver the last 10 years, the Ministry <strong>of</strong> Education in Québechas been reforming its educational system by movingtoward a student-centred model <strong>of</strong> learning that allowseducators to integrate a variety <strong>of</strong> approaches.In partnership with Minalliance, the firstcurriculum focus group was held in Montreal inJune 2010 to determine the suitability <strong>of</strong> MiningMatters resources for the Québec Education Plancurriculum. Minalliance, created in 2010, bringstogether the Québec Mineral Exploration<strong>Association</strong> <strong>and</strong> the Québec Mining <strong>Association</strong>,as well as companies involved in mineral exploration,operation <strong>and</strong> services, equipment suppliers,<strong>and</strong> financial institutions. Under the direction <strong>of</strong>Claudine Renaud, Minalliance’s ExecutiveDirector, whose m<strong>and</strong>ate is to distribute clear,consistent <strong>and</strong> coordinated information to allQuébecers about activities in the mineralindustry while promoting the industry’s positivecontribution to the social, economic <strong>and</strong>environmental development <strong>of</strong> Québec, MiningMatters is now supporting teachers in their effortto educate students about rocks, minerals <strong>and</strong>mining in Québec.Considerable progress has so far been made inimplementating educational programs fromMining Matters for schools in Québec. Presently,the elementary resource kit “Deeper <strong>and</strong> Deeper”[Aller au fond des choses] has been translatedinto French <strong>and</strong> will be ready for distribution in2013. Through direct solicitations <strong>and</strong> QuébecMines [Des mines et des hommes] events relatedto science <strong>and</strong> education, the Mining Mattersteam is currently working to promote educationalprograms in English <strong>and</strong> French to Québecschool boards <strong>and</strong> provide teacher workshopopportunities, especially in those areas close tomining operations such as Drummondville,Rouyn Nor<strong>and</strong>a, <strong>and</strong> Val d’Or. As <strong>of</strong> the endOctober, using the configuration <strong>of</strong> a new virtualvoicemail, all teachers from Québec are now ableto communicate with the Mining Matters team bycalling the phone number <strong>of</strong> Minalliance.In looking forward, <strong>and</strong> in anticipation <strong>of</strong> theelementary school students moving on to highschool, revisions <strong>and</strong> updates <strong>of</strong> the secondaryearth science teacher resource, “MiningMatters II: The Earth’s Crust” [Une mine derenseignements: L’écorce terrestre] will also beincorporated for release for the fall <strong>of</strong> 2014.— By Victoria Stratton <strong>and</strong> Janice Williams<strong>Annual</strong> <strong>Report</strong> 201225
Canadianinnovation keepsthe orebodiescomingEver since the first commercial use <strong>of</strong> airborneelectromagnetics (EM) revolutionized<strong>Canada</strong>’s mineral industry in the early 1950s,Canadian innovation has played a significantrole in advancing geoscience <strong>and</strong> finding newore deposits worldwide. And while the tendencymight be to rest on these laurels, the urgency<strong>of</strong> declining discovery rates is spurring furtherinnovation.The airborne EM breakthrough was a naturalprogression from the conclusion <strong>of</strong> World War II,when airplanes were available at a fraction <strong>of</strong>their cost <strong>and</strong> several technical <strong>and</strong> aviationexperts joined the civilian workforce. The firstdiscovery credited to this technique was NewBrunswick’s Bathurst zinc-lead camp in 1953,followed by the Thompson nickel camp inManitoba some three years after. Later, airborneEM played a significant role in the unveiling <strong>of</strong>the Athabasca uranium camp in Saskatchewan,the copper porphyry deposits <strong>of</strong> <strong>Canada</strong>’s westcoast, the massive Kidd Creek copper-zincdeposit in Ontario, as well as others too numerousto mention.“Airborne EM really made it possible to explorelarge areas <strong>of</strong> the trackless wilderness,” saysRichard Moore, chair <strong>of</strong> the PDAC’s Geosciencecommittee. “It made a huge impact in the lasthalf <strong>of</strong> the 20th century <strong>and</strong> even continues tothis day with discoveries in the Flin Flon-SnowLake mining camp in Manitoba.”Along the way, Canadian researchers remainedat the forefront <strong>of</strong> new technology <strong>and</strong> innovation,designing the UTEM deep penetratingsystem that helped discover buried deposits inthe Sudbury nickel camp, for example, or creatingore deposit models that would guide globalexploration for volcanogenic massive sulphide(VMS) <strong>and</strong> magmatic nickel deposits.A unique willingness on the part <strong>of</strong> industry,government <strong>and</strong> academia to work together,perhaps best exemplified by the formation <strong>of</strong> TheMining Industry Technology Council <strong>of</strong> <strong>Canada</strong>(MITEC, now CAMIRO) in 1991 to addressdiminishing base metal reserves in <strong>Canada</strong>, hashelped fast-track some <strong>of</strong> these innovations.Now, as mineral discovery rates begin to nosediveworldwide, Canadian innovators are onceagain rising to the challenge. Under what may bethe largest ever collaboration between the explorationindustry, academics <strong>and</strong> government,the <strong>Canada</strong> Mining Innovation Council (CMIC)is launching a new initiative to explore ways toreverse this worrying discovery trend.“Our exploration research projects in the pasthave been narrowly focused, <strong>and</strong> the largeraspect <strong>of</strong> our declining exploration discoveries ina broader sense hasn’t really been looked at,”says Moore. The PDAC provided $50,000 in seedcapital for the CMIC initiative that was matchedby the federal government (NRCAN) <strong>and</strong>bolstered by donations from several privatesector companies.26 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
geoscience technology“ We’ve been asking so long for the government to provideus with more data through mapping <strong>and</strong> so on, butmaybe it’s time for industry to look at itself <strong>and</strong> not beso reluctant about providing digital data.”— Richard Moore, PDAC Geoscience committee chairCIMC’s first priority will be to make the searchfor buried targets more effective by buildingfootprint models <strong>of</strong> mineral deposits <strong>and</strong>vectoring from their most distal margins to theireconomic cores. The research will focus on definingfeatures in rocks <strong>and</strong> derivative materialsthat characterize the footprint, then using thesefeatures to devise practical exploration models<strong>and</strong> vectors.The five-year, $10.5 million footprints projectproposal has been submitted to NSERC forapproval for commencement after March 2013.It will involve 16 Canadian universities,22 university researchers, more than 34 graduatestudents <strong>and</strong> post-doctoral fellows <strong>and</strong>, so far,funding commitments from 24 mining <strong>and</strong>service provider companies, according to AlanGalley, CMIC’s Exploration Research Director.One <strong>of</strong> the program’s goals will to be to train thenext generation <strong>of</strong> exploration geoscientists.Without an initial push from the PDAC, theprogram may never have launched. “We’ve hada lot <strong>of</strong> input from industry geoscientists,academics <strong>and</strong> support from NRCAN, but thePDAC was the driving force behind this explorationinitiative,” Moore says.The CMIC initiative is just one <strong>of</strong> severalgeoscience projects the PDAC has been involvedin over the past number <strong>of</strong> decades. Years <strong>of</strong>lobbying by the late Geoscience committee chairMary-Claire Ward resulted in federal programssuch as the Targeted Geoscience Initiative (TGI),an ongoing program with the goal <strong>of</strong> developingnew ways <strong>of</strong> exploring for deep mineral deposits<strong>and</strong> the Geomapping for Energy <strong>and</strong> Mineral(GEM) program that provides $100 million formapping over five years to encourage economicdevelopment in <strong>Canada</strong>’s north.Although the effects <strong>of</strong> government geoscienceprograms are difficult to quantify, studiessponsored by the PDAC estimate that everydollar that government spends results in fivedollars <strong>of</strong> private sector exploration spending.Meanwhile, the association continues to championmobility for Canadian geoscientists. Thesituation is improving between certain provinces,but there is still a need for mechanisms to sparegeoscientists the expense <strong>and</strong> paperworkinvolved in having to register in every provincewhere they work.“If you’re pr<strong>of</strong>essionally registered in oneprovince, you should not have to go through theregistration process in another province. Youshould just be able to show up, show youraccreditation <strong>and</strong> that should be good enough,”says Moore.Ontario <strong>and</strong> Quebec, for instance, have anagreement whereby their geologists can moveback <strong>and</strong> forth between provinces for a number <strong>of</strong>days using a simple internet application process.B.C. <strong>and</strong> Alberta have expressed an interest injoining with Ontario in a similar agreement.Last fall, Moore spoke to government geologistsat the Mines Ministers’ Conference inCharlottetown about another kind <strong>of</strong> st<strong>and</strong>ardization:consistent presentation <strong>and</strong> access toexploration data across provincial <strong>and</strong> federalwebsites, <strong>and</strong> better digitizing <strong>of</strong> that data.“They’ve done a fabulous job <strong>of</strong> scanning alltheir old exploration files <strong>and</strong> data right back tothe beginning,” says Moore <strong>of</strong> the provincial <strong>and</strong>federal geological surveys. But a lot <strong>of</strong> the datais delivered as a paper report when it would beso much more useful to explorers if it were in theoriginal digital format that could be manipulatedimmediately without having to be re-entered.“This would open things up for entrepreneursto develop new ideas with all the data we have,”says Moore. “We’ve been asking so long forthe government to provide us with more datathrough mapping <strong>and</strong> so on, but maybe it’s timefor industry to look at itself <strong>and</strong> not be so reluctantabout providing digital data.”Moore says he has had guarded support fromvarious prospectors associations <strong>and</strong> juniorcompanies for this initiative, but suspects thesenior companies may take more convincing.The move to make digital data moreaccessible is just one example <strong>of</strong> how thePDAC—<strong>of</strong>ten working behind the scenes—helpsfoster geoscience knowledge <strong>and</strong> keep thoseorebodies coming.— By Virginia Heffernan<strong>Annual</strong> <strong>Report</strong> 201227
PDAC’sgrowingleadershipinAboriginalAffairsWhen the PDAC’s Aboriginal Affairs committeeformed in 2004, there was a growing desirewithin the association to enhance the naturalpartnership that existed between Aboriginalcommunities <strong>and</strong> the mineral exploration <strong>and</strong>mining industry. Yet at the time, Aboriginalparticipation at the PDAC Convention was notvery high <strong>and</strong> there were no Aboriginal executiveson the PDAC’s board <strong>of</strong> directors.How times have changed. Today, the PDAChas a Memor<strong>and</strong>um <strong>of</strong> Underst<strong>and</strong>ing (MOU) inplace with the Assembly <strong>of</strong> First Nations (AFN) topromote greater participation by First Nations inthe mineral industry in <strong>Canada</strong>, <strong>and</strong> more than500 self-identified Aboriginal delegates attendedthe PDAC Convention in 2012. Furthermore,this past year the association welcomed its firstAboriginal President in Glenn Nolan.“I’m always amazed about where we’ve comein the last decade as an industry,” says Nolan,who hails from the Missanabie Cree First Nationin northern Ontario <strong>and</strong> who in addition to hisduties with the PDAC serves as Vice-President<strong>of</strong> Aboriginal Affairs for Noront Resources. “Thegrowth in awareness by industry members aboutwhat needs to be done to engage communities ina proactive <strong>and</strong> respectful way is encouraging.”It was former President Peter Dimmell who firstrecognized in 2004 that the PDAC needed to takea greater leadership role in fostering a positiverelationship with Aboriginal communities.The B.C. Supreme Court had just ruled on the“duty to consult” <strong>and</strong> issues were arisingbetween some junior companies <strong>and</strong> Aboriginalcommunities in Ontario.“The Platinex-Kitchenuhmaykoosib Inninuwug(KI) dispute was not in the news yet, but therewere a couple <strong>of</strong> other less high pr<strong>of</strong>ile situationswhere companies <strong>and</strong> communities were startingto clash around the duty to consult,” says DonBubar, who joined the PDAC board <strong>of</strong> directorsin 2004 <strong>and</strong> has worked with Aboriginal groupsin the Northwest Territories <strong>and</strong> in northwesternOntario. “Peter approached me to chair the new28 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
aboriginal affairsPDAC Aboriginal Affairs committee because I hadspoken up on Aboriginal issues during a couple<strong>of</strong> board meetings <strong>and</strong> was one <strong>of</strong> the few on theboard at the time who had relevant experienceworking with communities.”Bubar immediately turned to Chuck Willms, alawyer specializing in Aboriginal law at FaskenMartineau, to join the committee <strong>and</strong> speak at aPDAC event on the implications <strong>of</strong> the SupremeCourt decision on the duty to consult. Nolanattended the event as a representative <strong>of</strong> his owncommunity <strong>and</strong> introduced himself to Bubar,who recognized in Nolan a valuable potentialcommittee <strong>and</strong> PDAC board member.When elected at the AGM in March 2005, Nolanwas the only Aboriginal person on the PDACboard <strong>of</strong> directors at the time. He was followed byJack Blacksmith, Michael Fox <strong>and</strong> Annita McPhee.Fox <strong>and</strong> McPhee still serve on the board withNolan, who became President in 2012.“My role as the President is being seen as agame-changer,” says Nolan. “Aboriginal peopleare now looking at the association as a way <strong>of</strong>embracing something that, in the past, theymight not have considered.”Both Nolan <strong>and</strong> Bubar identify the PDAC’sMOU with the Assembly <strong>of</strong> First Nations as thecommittee’s most significant accomplishment.Signed in 2008, the agreement establishes arelationship between the two organizationswith a commitment to opportunities for regulardialogue between the mineral sector <strong>and</strong> communities,collaboration on human resourceinitiatives that promote greater participation<strong>of</strong> First Nations people in <strong>Canada</strong>’s exploration<strong>and</strong> mining industry, <strong>and</strong> cooperation on publicpolicy issues <strong>of</strong> mutual interest.As <strong>of</strong> February 2012, more than 180 agreementshave been signed between mining companies<strong>and</strong> Aboriginal communities or governments in<strong>Canada</strong>, according to Natural Resources <strong>Canada</strong>.Projects range from grassroots exploration playsto producing mines across the country.Another significant milestone was the PDAC’sestablishment <strong>of</strong> the Skookum Jim Award.First presented in March 2008, the award recognizesexceptional achievement <strong>and</strong>/or servicefrom an Aboriginal-run business, or an individualwho has made a significant contribution tothe industry. The 2013 winner is WindigoCatering Limited Partnership, a cateringcompany in northwestern Ontario that specializesin a variety <strong>of</strong> on-site management <strong>and</strong> lightmaintenance services.“Having the board recognize the importance <strong>of</strong>Aboriginal entrepreneurs <strong>and</strong> movers <strong>and</strong>shakers that have exemplified a strong commitmentto the industry was significant,” says Nolan.Since the Aboriginal Program was launched atthe PDAC Convention in 2006, it has grown exponentiallyin quality <strong>and</strong> quantity. With two days<strong>of</strong> sessions (increased from one half-day sessionat its inception) devoted to Aboriginal programming,the convention is a unique opportunity forcompanies <strong>and</strong> communities to network, createpartnerships, <strong>and</strong> share knowledge.Aboriginal participation at the convention isexpected to continue to grow in 2013, says LesleyWilliams, the PDAC’s Manager <strong>of</strong> AboriginalAffairs <strong>and</strong> Resource Development. Programmingin four separate sessions will focus on buildingcapacity, promoting excellence in engagement,<strong>and</strong> addressing subjects such as consultation<strong>and</strong> community-company agreements.Meanwhile, throughout the rest <strong>of</strong> the year thePDAC will continue to develop tools to buildawareness around the mineral developmentsequence <strong>and</strong> opportunities that exist, <strong>and</strong>encourage increased <strong>and</strong> meaningful Aboriginalparticipation in the industry, adds Williams.Apart from the Aboriginal Program at theconvention, PDAC Aboriginal Affairs undertakesinitiatives <strong>and</strong> activities to promote greater underst<strong>and</strong>ing<strong>and</strong> cooperation between Aboriginalcommunities <strong>and</strong> the mineral industry in <strong>Canada</strong>.While advocating for policy, such as governmentresource revenue sharing <strong>and</strong> the resolution <strong>of</strong>l<strong>and</strong> claims, the PDAC participates in conferences<strong>and</strong> meetings central to Aboriginal issuesin <strong>Canada</strong>. The development <strong>of</strong> research <strong>and</strong>tools such as the Exploration <strong>and</strong> Mining Guidefor Aboriginal Communities is also an integralelement <strong>of</strong> the department.The opportunity for constructive engagement<strong>and</strong> Aboriginal participation in the sector is notlost on government representatives at theprovincial <strong>and</strong> federal level. “We talk a lot in publicpolicy about jobs without people <strong>and</strong> peoplewithout jobs <strong>and</strong> I think that is the key to thisobvious marriage <strong>of</strong> Aboriginal people, particularlytheir youth, <strong>and</strong> the mining industry,” says LiberalMP Carolyn Bennett, who attended PDAC 2102 <strong>and</strong>is Vice-Chair <strong>of</strong> the Aboriginal Affairs <strong>and</strong> NorthernDevelopment committee at the federal level.Nolan agrees with such a sentiment <strong>and</strong>envisions a future in which communities takeownership <strong>of</strong> exploration programs, hire theirown people, <strong>and</strong> secure licences to developprojects. When such a vision becomes a reality,the PDAC Aboriginal Affairs committee will havefulfilled its m<strong>and</strong>ate. Until then, there is morework to be done.— By Virginia Heffernan<strong>Annual</strong> <strong>Report</strong> 201229
Three companiesthat are makinge3 Plus workCartier ResourcesCallinex MinesWhen the PDAC launched e3 Plus–A Frameworkfor Responsible Exploration—in March 2009,the goal <strong>of</strong> the program was that it serve as abenchmark <strong>of</strong> principles <strong>and</strong> guidelines thatexploration <strong>and</strong> mining companies could use intheir everyday activities. Although presentedas a voluntary tool, it challenged companies tostrive for excellence in three distinct areas: socialresponsibility, environmental stewardship, <strong>and</strong>health <strong>and</strong> safety.In an effort to see first-h<strong>and</strong> how companieshave been using e3 Plus since its inception, thePDAC visited three projects over the past few years—two in <strong>Canada</strong> <strong>and</strong> one in South America—to gainvaluable insight into the benefits <strong>of</strong> the program,along with areas that need improvement.The first visit was to Val d’Or, Quebec, inJune 2011 to a gold exploration site owned byCartier Resources. The company’s CEO,Philippe Cloutier, had previously expressed akeen interest in responsible exploration <strong>and</strong>wanted to ensure that his company was complyingwith local regulations, even going beyondthe necessary compliance st<strong>and</strong>ards whenpossible. He had presented the best practicesoutlined in e3 Plus to the company’s board <strong>of</strong>directors who were particularly intrigued by theprinciples related to the environment, as well ashealth <strong>and</strong> safety.To achieve his goal, Cloutier hired a consultantwho specializes in sustainable development tocreate a good practice checklist <strong>and</strong> to overseethe proper application <strong>of</strong> certain principles.From there, the company started holding staffmeetings to verify the application <strong>of</strong> certainrecommendations that were identified in e3 Plus,<strong>and</strong> during the PDAC’s visit they were in theprocess <strong>of</strong> putting together a bulletin board tohelp infuse key principles into the company’soperating culture. They have even introduced agrant for College <strong>of</strong> General <strong>and</strong> VocationalEducation (CEGEP) students who, in an essay,can successfully discuss a topic mentioned ine3 Plus, regardless <strong>of</strong> their specialization.And what’s the pay<strong>of</strong>f to Cartier Resources forimplementing e3 Plus? “Applying best practicesthrough e3 Plus will make us more competitive inthe long run,” says Cloutier.The second visit the PDAC team undertookwas in September <strong>of</strong> 2011 to a base <strong>and</strong> preciousmetals property outside <strong>of</strong> Smithers, BritishColumbia, operated by Callinex Mines. Althoughthe company strictly abides by the laws thatregulate the provincial activities <strong>of</strong> the mineralexploration industry, they have also created theirown internal health <strong>and</strong> safety regulations thatuse e3 Plus principles because as their CEO MikeMuzlyowski put it: “We leave nothing to chance;we can’t take the risk.”30 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
e3 PlusAnd what’s the pay<strong>of</strong>f to Cartier Resourcesfor implementing e3 Plus? “Applying bestpractices through e3 Plus will make us morecompetitive in the long run.”— Philippe Cloutier, CEO, Cartier ResourcesLithium AmericasFurthermore, Callinex is working hard toreduce its environmental footprint. Reclamation<strong>of</strong> drill sites <strong>and</strong> ATV tracks is ongoing, <strong>and</strong> newmethods <strong>of</strong> transportation are being used tominimize damage to surface areas. The companyhas also implemented successful strategies toreduce <strong>and</strong> manage waste materials in all sectors<strong>of</strong> its projects.The last field trip the PDAC undertook wasin October 2011 to Provincia de Jujuy, in the farnorth <strong>of</strong> Argentina, to a lithium exploration siteowned by Lithium Americas. The company hadreceived an overwhelming amount <strong>of</strong> supportfrom the local communities since its arrival <strong>and</strong>wanted to nurture those existing relationshipsby <strong>of</strong>fering their assistance in local developmentprojects. “The company has the potential tochange the local communities’ life <strong>and</strong> to makesure that those changes are positive, <strong>and</strong> thatthe negative risks are mitigated,” noted LithiumAmericas’ CEO, Waldo Perez.To accomplish this, Perez frequently engageswith local community members <strong>and</strong> stakeholdersto discuss their concerns, <strong>and</strong> the CommunityRelations staff reports directly to him so decisionsare made immediately. The company alsoarranges monthly assemblies or “assembleas”—regular community meetings where all matters <strong>of</strong>importance to the community are discussed—ineach community located near the explorationsite. From these meetings they sign agreementscalled “convenios” in which Lithium Americasestablishes its role <strong>and</strong> responsibilities to keepthe communities informed <strong>and</strong> to mitigate anypotential environmental, health <strong>and</strong> safety, orsocial issues.In terms <strong>of</strong> contributing to the development <strong>of</strong>local communities, the company has created anumber <strong>of</strong> unique initiatives, from knitting <strong>and</strong>cooking lessons, to programs for local employment<strong>and</strong> economic development, as well asaccess to medical services. To educate thecommunity about its activities, they organizeguided visits to the site during the various stages<strong>of</strong> the project.These are just three examples <strong>of</strong> how e3 Plusis making a difference in the explorationactivities <strong>of</strong> three domestic <strong>and</strong> internationalcompanies. Going forward, as the associationimplements the objectives <strong>of</strong> its strategic plan,new areas for CSR development will be created t<strong>of</strong>urther enhance <strong>and</strong> promote the guidingprinciples <strong>of</strong> e3 Plus.— By Cameron Ainsworth-Vincze<strong>Annual</strong> <strong>Report</strong> 201231
The PDAC Board <strong>of</strong> Directors was pleased to announcethe following awards for outst<strong>and</strong>ing contributions tothe mining <strong>and</strong> mineral exploration industry. The awardswere presented during the Awards Evening Dinner at thePDAC 2012 Convention.PDAC Awardsfor 2012Bill Dennis Award for a Canadi<strong>and</strong>iscovery or prospecting successGerald Panneton, President <strong>and</strong> CEO <strong>of</strong> DetourGold Corp., received this award for his leadershiprole on the team that advanced the Detour Lakeproperty in northern Ontario into a world-class,low-grade, high tonnage gold deposit. Pannetonspearheaded the initial acquisition <strong>and</strong> subsequentevaluation <strong>of</strong> what is now considered tobe <strong>Canada</strong>’s largest undeveloped gold deposit.Recognizing the potential <strong>of</strong> Detour Lake in 2006,Panneton commissioned a large-scale drilling<strong>and</strong> resampling program. By the end <strong>of</strong> 2011,the project had proven <strong>and</strong> probable open pitreserves <strong>of</strong> 14.9 million ounces <strong>of</strong> gold. DetourGold Corp. is now moving ahead with the development<strong>of</strong> the project.Environmental & SocialResponsibility AwardThis award recognized Towards SustainableMining (TSM), a stewardship program developedby the Mining <strong>Association</strong> <strong>of</strong> <strong>Canada</strong> (MAC) thataims to improve the mining industry’s overallperformance by aligning its actions with thepriorities <strong>and</strong> values <strong>of</strong> Canadians. The programwas created in 2004 to help mining companiesevaluate the quality, comprehensiveness <strong>and</strong>robustness <strong>of</strong> their management systems underseveral performance elements—tailings management,energy use <strong>and</strong> greenhouse gas emissionsmanagement, Aboriginal <strong>and</strong> communityoutreach, crisis management planning, biodiversityconservation management, <strong>and</strong> safety <strong>and</strong>health. Participation in TSM is a condition <strong>of</strong>membership in MAC. It requires members tosubscribe to a set <strong>of</strong> guiding principles that arebacked by specific performance indicatorsagainst which member companies must reportannually. These reported results are externallyverified every three years. A community <strong>of</strong>interest advisory panel provides feedback toMAC on the implementation, reception <strong>and</strong> use<strong>of</strong> TSM performance indicators. TSM has beenrecognized as one <strong>of</strong> the best industry associationsustainability initiatives in the world,receiving the Globe Award for EnvironmentalExcellence in 2005. Since that time, independentstudies by Five Winds (2008) <strong>and</strong> the CanadianBusiness for Social Responsibility (2009) haveboth ranked TSM as “best in class.”32 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
awardsDistinguished Service AwardDeborah McCombe was the recipient <strong>of</strong> thisyear’s award for her many contributions <strong>and</strong> distinguishedservice to the mineral industry <strong>and</strong> itssupporting organizations. Mrs. McCombe servedas a PDAC Director from 1996 to 2011. For much<strong>of</strong> that period, she chaired the association’sInternational Affairs committee. She was also amember <strong>of</strong> the Convention Planning committee,<strong>and</strong> served on the Governance <strong>and</strong> StrategicPlanning committees. Mrs. McCombe has alsobeen an active supporter <strong>of</strong> the CIM, servingon the Mining Millennium 2000 ConventionOrganizing committee <strong>and</strong> chairing the CIMToronto branch in 2003. She is a member <strong>of</strong> theCIM St<strong>and</strong>ing committee on mineral resource<strong>and</strong> mineral reserves <strong>and</strong> is a Canadian representative<strong>of</strong> the Committee for Mineral ReservesInternational <strong>Report</strong>ing St<strong>and</strong>ards (CRIRSCO).Deborah received the CIM Fellowship Awardin 2005 <strong>and</strong> a 2001-2002 DistinguishedLecturer Award for her presentations onNational Instrument 43-101 across the country.She is a past Director <strong>of</strong> Mining Innovation,Rehabilitation <strong>and</strong> Applied Research Corporation(MIRARCO). Mrs. McCombe served as amember <strong>of</strong> the APGO Council as Councillorat Large from 2007-2009, subsequentlybecoming Vice President <strong>and</strong> then President.Deborah was President <strong>of</strong> Watts, Griffis <strong>and</strong>McOuat before joining the OSC as Chief MiningConsultant in 2000. Currently, she is the President<strong>and</strong> CEO <strong>of</strong> Roscoe Postle & Associates.A workforce in excess <strong>of</strong>600 people on variousprojects in northern <strong>Canada</strong><strong>and</strong> sources 66% to 81%<strong>of</strong> the goods <strong>and</strong> servicesit uses from the North.Skookum Jim Award for Aboriginalachievement in the mineral industryThis year’s award was presented to the NunaGroup <strong>of</strong> Companies for providing mining <strong>and</strong>construction services to mining companies innorthern <strong>Canada</strong>, <strong>and</strong> training <strong>and</strong> employmentopportunities for Aboriginal people in the North.Nuna was formed in 1993 <strong>and</strong> is 51% Inuitowned[Nunasi Corporation (25.5%); KitikmeotCorporation (25.5%); <strong>and</strong> Nuna Management(49%)]. Services the Nuna Group provides,through a group <strong>of</strong> seven subsidiary companies<strong>and</strong> 14 joint ventures <strong>and</strong> partnerships, includeconstruction services, logistics, contract mining,infrastructure planning, earthworks, large diameterdrilling, <strong>and</strong> mining support services <strong>and</strong>mining products. Sharing the economic benefits<strong>of</strong> the business with Inuit, Aboriginals <strong>and</strong>northerners has resulted in the company having,among owners <strong>and</strong> subcontractors, a very highproportion <strong>of</strong> northern content on projects.The company, which is dedicated to ongoingemployee training, has a workforce in excess<strong>of</strong> 600 people on various projects in northern<strong>Canada</strong>, <strong>and</strong> sources 66% to 81% <strong>of</strong> the goods<strong>and</strong> services it uses from the North. Nuna wascontracted to build the 567 km ice road fromYellowknife to Lupin, Nunavut, <strong>and</strong> since 1998the company has operated <strong>and</strong> maintained thisroadway, which provides access to northernmining sites each winter.<strong>Annual</strong> <strong>Report</strong> 201233
awardsViola R. MacMillan Award forcompany or mine developmentThe PDAC selected Osisko Mining Corp. for thisaward after successfully developing <strong>and</strong> bringinginto production the company’s CanadianMalartic gold property in Quebec’s Abitibi goldbelt. In November 2004, Osisko acquired theproperty, which had produced some 5 millionounces <strong>of</strong> gold from 1935 to 1983 from four mines(Canadian Malartic, Barnat, Sladen <strong>and</strong> EastMalartic). A detailed compilation <strong>of</strong> the extensivehistorical database was followed by the start <strong>of</strong> amajor drilling program in March 2005. The minebegan commercial production on May 19, 2011,<strong>and</strong> currently has an estimated 10.71 millionounces in proven <strong>and</strong> probable reserves.The company has been exemplary in itsattention to community concerns <strong>and</strong> involvementthroughout the development <strong>of</strong> the open pitmine, which included the resettlement <strong>of</strong> morethan 150 homes <strong>and</strong> the construction <strong>of</strong> fiveinstitutional buildings, <strong>and</strong> acknowledges that thecollaboration <strong>of</strong> residents <strong>and</strong> the town councilhas been crucial to the success <strong>of</strong> the project.Thayer Lindsley Award for aninternational mineral discoveryDavid A. Giles was the recipient <strong>of</strong> this year’saward for heading Peñoles <strong>and</strong> Fresnillo Plcexploration teams that have seen considerablesuccess in the number <strong>of</strong> their new economicgold <strong>and</strong> silver deposit finds in Mexico <strong>and</strong> LatinAmerica. Most notable <strong>of</strong> these was the discovery<strong>of</strong> a new vein system in the Fresnillo district,leading to the opening <strong>of</strong> the Saucito mine in2011 <strong>and</strong> consolidating Fresnillo as the largestsilver district in the world.Other principal finds included the San Juliansilver-gold <strong>and</strong> Orisyvo gold deposits inMexico, both now under development, <strong>and</strong> thediscovery <strong>and</strong> geological reinterpretation <strong>of</strong>the Francisco I. Madero SEDEX deposit that led tothe opening <strong>of</strong> an important new mine in 2002.The company has beenexemplary in its attentionto community concerns<strong>and</strong> involvement throughoutthe development <strong>of</strong> theopen pit mine.34 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
A awards Message from THE EXECUTIVE DIRECTORSpecial Achievement AwardFrom time to time, the PDAC presents a SpecialAchievement Award that recognizes exceptionalcontributions to the mineral industry. Thisyear, the association chose to honour the MineTraining Society (MTS) for providing Aboriginalpeople in northern <strong>Canada</strong> with the opportunityto develop usable job skills for the miningindustry, <strong>and</strong> for developing a pool <strong>of</strong> skilledworkers for the industry. MTS is a non-pr<strong>of</strong>itorganization comprised <strong>of</strong> Aboriginal, industry,<strong>and</strong> government partners. Its objectives are to:1) screen, select, train, <strong>and</strong> place northerners inall areas <strong>of</strong> mining; <strong>and</strong> 2) in cooperation with theNWT’s education system <strong>and</strong> communities, builda legacy <strong>of</strong> education <strong>and</strong> awareness about theemployee <strong>and</strong> skill requirements <strong>of</strong> the miningindustry. MTS works with mining companies <strong>and</strong>industry service providers to bring training <strong>and</strong>jobs together, funding up to 50% <strong>of</strong> eligible costsfor training programs. Priority for funding isgiven to training proposals that are skills based<strong>and</strong> lead directly to employment.The MTS is a pioneer in this area <strong>and</strong> servesas a model for the other training societies acrossthe North. Since 2004, the MTS <strong>and</strong> its partnershave trained 854 individuals out <strong>of</strong> a total1,095 applications, <strong>and</strong> 600 people have beenemployed in the mine <strong>and</strong> mine services sector.Courses <strong>of</strong>fered include general trades training,environmental monitoring, first aid firstresponder, driller helper, underground mining(heavy equipment operator, etc.), <strong>and</strong> mineralprocess operation.Since 2004, the MTS <strong>and</strong>its partners have trained854 individuals out <strong>of</strong> atotal 1,095 applications,<strong>and</strong> 600 people have beenemployed in the mine <strong>and</strong>mine services sector.Mary-Claire Ward Geoscience AwardDeanne van Rooyen was chosen as this year’sMary-Claire Ward Geoscience Award recipient forher research project “Origin <strong>and</strong> geologicalhistory <strong>of</strong> Proterozoic, Paleozoic <strong>and</strong> Mesozoicrocks in the southern Thor-Odin area, B.C,based on mapping, structural, geochemical,geochronological <strong>and</strong> thermochronologicalconstraints: Implications for accretionarytectonics <strong>and</strong> orogenesis in the southernCanadian Cordillera.” Deanne recently completedher PhD in the Department <strong>of</strong> Earth Sciences atCarleton University.The award, comprising $5,000 <strong>and</strong> a certificate,is given annually to honour the memory <strong>of</strong>Mary-Claire Ward who died in 2004. At the time<strong>of</strong> her death, Mrs. Ward was the chair <strong>of</strong> thePDAC’s Geoscience committee, Chairman <strong>of</strong>Watts Griffis McOuat Ltd., <strong>and</strong> a past President <strong>of</strong>the Geological <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>. She was apassionate advocate for the geosciences in<strong>Canada</strong>. The intent <strong>of</strong> the award is to encourage<strong>and</strong> support a graduate student in <strong>Canada</strong> whosethesis will contribute to our knowledge about thegeological history <strong>of</strong> <strong>Canada</strong>.<strong>Annual</strong> <strong>Report</strong> 201235
Ron Gageltackles theintricacies<strong>of</strong> miningunder theIFRSphoto by Michelle siuAccounting firms may possess the expertiserequired to interpret the International Financial<strong>Report</strong>ing St<strong>and</strong>ards (IFRS) adopted by Canadianpublic companies in 2011, but it’s people likeRon Gagel who have the real life experience todeal with the unusual accounting issues facingthe mining industry—especially the junior sectorthat is so prolific in <strong>Canada</strong>.That’s why the PDAC chose Gagel, a charteredaccountant who has worked in the industry formore than a quarter <strong>of</strong> a century <strong>and</strong> been aPDAC board member since 1997, to assist themore than 1,000 juniors that make up the bulk <strong>of</strong>the PDAC membership as they transition to theIFRS accounting st<strong>and</strong>ards that took effect onJanuary 1, 2011. The st<strong>and</strong>ards, which wereinitially implemented in Europe to harmonizeaccounting practises across the European Union,are designed to make company accountsunderst<strong>and</strong>able <strong>and</strong> comparable across internationalboundaries.Gagel chairs a mining task force establishedby the PDAC <strong>and</strong> the Canadian Institute <strong>of</strong>Chartered Accountants (CICA) to respond tomining specific issues where the IFRS provideslittle guidance around such topics as how toaccount for flow-through, a financing vehicleunique to <strong>Canada</strong>. The task force does notpublish pronouncements—only the InternationalAccounting St<strong>and</strong>ards board can do that—but does produce “Viewpoints” that juniorslacking accounting depth can use to determinehow to proceed when they hit a snag underthe new rules.“Being the only chartered accountant on theboard <strong>of</strong> the PDAC at the time, it was felt that Iwas the person who was most technically qualifiedfrom a financial perspective,” says Gagel, theformer CFO <strong>of</strong> FNX Mining, which merged withQuadra Mining in 2010. “I’ve been with juniorsthat have gone from nothing to producing, soI’ve seen almost everything that’s involved froman accounting perspective when it comes to thejunior side <strong>of</strong> the business.”36 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
ifrs“ The IFRSs do not contemplate the nuances <strong>of</strong> the extractiveindustries. Even mining <strong>and</strong> oil <strong>and</strong> gas, thoughboth are extractive industries, are very different.”— Ron GagelAnother added bonus is that throughout theinitial set-up <strong>of</strong> the task force, <strong>and</strong> until herecently joined TMAC Resources as theirExecutive Vice President <strong>and</strong> CFO, Gagel wasnot affiliated with one mining company oraccounting firm, although he did sit on theboards <strong>of</strong> Adriana Resources, DalradianResources <strong>and</strong> Stonegate Agricom.The rest <strong>of</strong> the task force is made up <strong>of</strong> representativesfrom the largest Canadian public accountingfirms, including KPMG, Deloitte & Touche,PricewaterhouseCoopers, Ernst & Young, RaymondChabot Grant Thornton <strong>and</strong> BDO <strong>Canada</strong>.Given several years to prepare before theJanuary 2011 conversion date, the majority <strong>of</strong><strong>Canada</strong>’s public mining companies have madethe switch to IFRS, a set <strong>of</strong> accounting principlesused in most countries, the United States beingthe most significant exception. But that doesn’tmean that all the wrinkles have been ironed out.“Mining has a lot <strong>of</strong> unique issues associatedwith it. For example, going underground <strong>and</strong>digging shafts <strong>and</strong> tunnels makes for an unusualbusiness,” says Gagel. “The IFRSs do not contemplatethe nuances <strong>of</strong> the extractive industries.Even mining <strong>and</strong> oil <strong>and</strong> gas, though both areextractive industries, are very different.”As a result, the PDAC-CICA mining task forcehas developed nine “Viewpoints” on variousissues that range from how to define the beginning<strong>of</strong> commercial production, to determiningfunctional currency, to guidance on farm outarrangements for exploration properties. Andthey are working on more.“This is a value-added service to the PDACmembership,” says Gagel. “The PDAC is trying todo something for its members by providing theguidance they <strong>and</strong> their auditors need to accountfor certain unusual aspects <strong>of</strong> mining accounting.”Some issues have been contentious, whileothers, such as mining royalties, have beenshelved because they are “too complex <strong>and</strong>varied,” says Gagel. The IFRS is already investigatingthe principles for royalties from a broader,multi-industry perspective.But although adopting IFRSs has not beenwithout its challenges, Gagel says the newaccounting system gives Canadian companiesglobally comparable metrics that should helpthem attract capital.“Capital flows to where it has the best return,” saysGagel. “But if you have country-specific accounting,there is an element <strong>of</strong> risk <strong>and</strong> confusion thatreduces the efficiency <strong>of</strong> the capital markets.”The mining task force is important to thetransition process because <strong>of</strong> the lack <strong>of</strong> guidancefrom the IFRS about an industry that most <strong>of</strong>the financial world sees as a “rounding error insize” <strong>and</strong> not the economic powerhouse that itrepresents in <strong>Canada</strong>.Even though, after all is said <strong>and</strong> done, a juniormining company’s balance sheet may look the sameunder IFRS (where it is referred to as a “Statement<strong>of</strong> Financial Position”) as it did under <strong>Canada</strong>’sGenerally Accepted Accounting Principles (GAAP),there is a great deal <strong>of</strong> training <strong>and</strong> documentationrequired for companies to make the switch.At least GAAP <strong>and</strong> IFRS are both principlesbased,which means that they both begin withst<strong>and</strong>ards that can be interpreted accordingto the situation. This is different from the morerules-based type <strong>of</strong> system that the United Statesclings to, which resembles a Napoleonic code.“Principles-based accounting permits someflexibility in interpreting rules, so the IFRSs arewritten at a high level <strong>and</strong> don’t necessarilyget into minutia, especially industry-specificminutia,” says Gagel. “We’re always askingwhich principle are we talking about, <strong>and</strong> that’swhere you get interpretations <strong>of</strong> accounting.”Gagel says IFRS issues continue to arise in themining sector, such as how to account for goldlinkedfinancing, resource depletion <strong>and</strong> thereopening <strong>of</strong> a previously closed mine.“There are still a lot <strong>of</strong> issues out there thatneed to be addressed. Accounting is contin uouslyevolving so I don’t see an end to the mining industryIFRS task force in the foreseeable future.”— By Virginia Heffernan<strong>Annual</strong> <strong>Report</strong> 201237
A Message from THE President & Chairman <strong>of</strong> the Board <strong>of</strong> Directors2012 PDAC membershipStatisticsINDIVIDUAL MEMBERS(excluding students)7,477US 839 11%<strong>Canada</strong>67%US11%International22%International 1,651 22%Latin America / Caribbean 573Europe 434Australia 276Asia 261Africa 107<strong>Canada</strong> 4,987 67%NT 33NU 30YT 34BC 1,376AB 170SK 83MB 90ON 2,496QC 448PE 2NB 44NS 83NL 98PDAC Membership TrendIndividual members 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Core (paid) 0 1,605 1,782 1,890 1,898 1,940 2,217 1,956 2,091 2,335 2,417Regular 2,932 1,420 1,709 1,819 2,271 2,683 2,755 1,976 2,408 3,283 3,895Senior 411 360 406 418 456 462 484 509 501 644 768Student 311 236 251 332 407 487 637 606 933 1,048 1,544Sub-total 3,654 3,621 4,148 4,459 5,032 5,572 6,093 5,047 5,933 7,310 8,624Life 14 157 168 170 169 175 197 208 273 288 291Complimentary Core n/a n/a n/a 22 53 113 83 105 94 97 106Total 3,668 3,778 4,316 4,651 5,254 5,860 6,373 5,360 6,300 7,695 9,021Increases (%): 3% 14% 8% 13% 12% 9% -16% 18% 22% 17%38 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
A Message from THE EXECUTIVE DIRECTORUS3% International2%Student MEMBERS1,544US 43 3%International 28 2%Latin America / Caribbean 15Europe 11Australia 2Asia 0Africa 0<strong>Canada</strong>95%<strong>Canada</strong> 1,473 95%NT 1NU 0YT 0BC 48AB 23SK 25MB 35ON 1,025QC 162PE 0NB 33NS 57NL 64<strong>Canada</strong>81%US7%International12%Corporate MEMBERS1,270US 91 7%International 155 12%Latin America / Caribbean 64Europe 48Australia 17Asia 16Africa 10<strong>Canada</strong> 1,024 81%NT 5NU 4YT 4BC 375AB 39SK 12MB 10ON 451QC 94PE 0NB 6NS 12NL 12Corporate members 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Class A 5 9 12 11 10 13 18 17 19 26 24Class B 3 7 8 6 6 7 7 4 5 10 8Class C 1 0 0 7 8 11 15 15 16 20 23Class D 2 3 5 8 9 9 7 16 19 22 24Class E 0 0 0 1 1 1 2 8 18 17 15Class F 4 4 6 10 15 17 15 n/a n/a n/a n/aSub-Total 15 23 31 43 49 58 64 60 77 95 94Junior Exploration 146 174 266 357 410 445 547 561 545 577 651Non-Mining 32 39 43 190 249 277 349 374 402 430 525Total 193 236 340 590 708 780 960 995 1024 1102 1270Increases (%):<strong>Annual</strong> <strong>Report</strong> 201222% 44% 74% 20% 10% 23% 4% 3% 8% 15%39
LOREM IPSUM SIT AMET CONSECETEURSPDAC STAFFExecutive DirectorRoss GallingerAlan Plata Administrative OfficerAlissa Reed Executive AssistantAm<strong>and</strong>a Scriver Convention CoordinatorAndrea George Convention CoordinatorCameron Ainsworth-VinczeManager, CommunicationsCarolyn Fusina Communications specialistDeborah Breckels Senior Manager,Convention Events <strong>and</strong> SponsorshipEmily Nunn Manager, CorporateSocial ResponsibilityFlorence MacLeod Membership CoordinatorJoan Leslie AccountantJoyce Zhao Accounting ClerkKarla Doig Convention ManagerKrishana Michaud Manager, Student ProgramLesley Williams Manager, Aboriginal Affairs<strong>and</strong> Resource DevelopmentLisa McDonald Chief Operations OfficerMaria Milanova Administrative OfficerNadim Kara Senior Program DirectorNicole Sampson Convention DirectorS<strong>and</strong>ra Francescon Convention CoordinatorSarah Nazar Convention Coordinator,Events <strong>and</strong> SponsorshipSherry Dickert Senior Coordinator,Convention Events <strong>and</strong> SponsorshipScott Cavan Strategic Advisor,Aboriginal Affairs <strong>and</strong> Social DevelopmentSteve Virtue Senior Director,Public Affairs <strong>and</strong> CommunicationsEditorialProduced by PDAC’s Communications DepartmentEditor: Cameron Ainsworth-VinczeContributors: Steve Virtue, Virginia Heffernan,Lee Jacobson, Carolyn Fusina, Krishana Michaud,Am<strong>and</strong>a Horn, Victoria Stratton, Janice Williams,Lisa McDonald, Nicole Sampson, Florence Macleod,Joan Leslie, Karen Mulchinock, Emily Nunn,Lesley Williams, Scott Cavan, Sheriden Barnett,Tara Christie, Robert Schafer, Keith Spence,Bernarda elizalde, katy elliott, philip bousquet,Glenn Nolan, Ross Gallinger, Tony MakepeaceDesign: Hambly & Woolley Inc.Visit us online www.pdac.caTwitter www.twitter.com/the_PDACFacebook www.facebook.com/thePDACPDAC BOARD OF DIRECTORSPresidentGlenn NolanFirst Vice-PresidentRodney ThomasSecond Vice-PresidentRobert (Bob) SchaferDirectorsLynda BloomMichael BourassaRobert BoydAndrew BrownDonald BubarNorm<strong>and</strong> ChampignyTara ChristieSteven DeckTim DoheyMartin DoyleJim ExcellCatharine FarrowMichael FoxRon GagelAndre GaumondJim GloverGuy GosselinBarbara HendricksonDebbie HendsbeeJoe HinzerSherri HodderDennis JonesNick KohlmannFelix LeeTerry LoneyMichael March<strong>and</strong>Stephen MassonAnnita McPheeMaryAnn MihychukRichard MooreStephen MorisonGlenn MullanRalph NewsonMatthew PickardR<strong>and</strong>y RogersKeith SpenceMike TaylorEira ThomasDave ThomasIan ThomsonBob ValliantSteve VaughanNeil WestollDerek WiltonLawrence WinterCover Photo: <strong>and</strong>rew straininterior photos courtesy: Fairmont royal york, metro toronto convention centre, pdac archives, tony makepeace, mihr, envision digital photography40 <strong>Prospectors</strong> & <strong>Developers</strong> <strong>Association</strong> <strong>of</strong> <strong>Canada</strong>
<strong>Prospectors</strong> & <strong>Developers</strong><strong>Association</strong> <strong>of</strong> <strong>Canada</strong>135 King Street EastToronto, OntarioM5C 1G6Phone 416.362.1969info@pdac.cawww.pdac.ca