Valuation And Canadian Reporting Standards - Problems And Solutions

Mineral property valuations to be used for Canadian securities regulatory purposes must comply with CIMVal1. The technical basis for a CIMVal report is the same as that required for a technical report that complies with NI 43-1012. NI 43-101 describes the content to be covered in a technical report, while also covering other requirements, one of which is that the report should be based on a property visit. CIMVal is based on five tenets that the valuator must follow: ? Materiality. ? Independence. ? Transparency. ? Competence. ? Reasonableness. Upon its adoption by CIM Council in 2003, it was hoped that the new CIMVal code would be adopted without change by the several Canadian regulators.