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Gold/Mining/Energy : Donner Minerals (DML.V)

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To: Buckey who wrote (6809)	8/20/1998 11:47:00 AM
From: Mr Metals	Read Replies (1) of 11676

Toronto Stock Exchange - Minimum original listing standards raised for mining and exploration companies Toronto Stock Exchange TSE Shares issued 0 1899-12-30 close $0 Thursday Aug 20 1998 Mr. Steve Kee reports The Toronto Stock Exchange is revising original listing requirements for mining and exploration companies in order to raise the minimum standards for listing on the TSE. The proposed revisions raise the standards for companies wishing to list on the TSE by setting higher minimum financial requirements, stronger technical requirements, and demanding greater involvement and responsibility on the part of the sponsoring brokerage firm. This initiative is part of a regular review of all original listing requirements to maintain the quality of listings and to reflect changing market conditions. The TSE last reviewed original listing standards in 1992. Revisions to original listing standards for other sectors (oil and gas; industrials) will be released later this fall. The changes to original listing requirements for mining and exploration companies are effective immediately on an interim basis, subject to regulatory approval by the Ontario Securities Commission. The changes will be published in the OSC bulletin for comment. The new mining listing requirements complement the recommendations of the Mining Standards Task Force, which are also aimed at raising standards in this sector. The amendments raise certain minimum financial thresholds and clarify listing criteria: Exploration and development companies must have minimum working capital of $2.0-million and net tangible assets of $3.0-million; Producing mining companies must have $4.0-million in net tangible assets; Applicants must submit detailed financial projections that correspond to their work programs; Increased responsibilities of TSE member brokerage firms that sponsor mining applicants are clearly defined; for example, sponsors are required to scrutinize financial and technical submissions; The minimum market value of publicly-held shares is doubled to $4-million. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals

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