AMEC to discuss uncertainty caused by ASIC guidance on forward-looking statements
CONFERENCE CALLER: In the lead-in to the Association of Mining and Exploration Companies (AMEC) annual talkfest next week, the body’s chief executive, Simon Bennison says the release of ASIC Information Sheet 214 on Forward-Looking Statements has created significant uncertainty in the Australian mining and mineral exploration sector.
Bennison declared that ever since the guidance was released in April, AMEC has received unprecedented member feedback.
Most of that backlash has been due to the Information Sheet containing clauses that will prevent companies from releasing important material information to shareholders and the market at crucial funding points in the overall mine cycle, as well as impeding them from the opportunity to raise capital when needed.
AMEC believes there appears to be a number of unexpected and material ramifications which could have a debilitating impact on Australia`s market integrity and confidence, future investment potential and overall competitiveness in what is already a highly competitive global capital market.
The industry concerns need to be addressed quickly to ensure the integrity of the Australian Securities Exchange is not compromised, and certainty returns to the market and industry.
The topic will be the subject of discussion in the first morning session of the two-day AMEC Convention, which kicks off on Wednesday 8th June 2016 at the Crown Convention Centre in Perth with Allion Legal principal energy & resources Stuart Mengler and Stavely Minerals managing director Chris Cairns discussing the need to strike a balance on Forward-Looking Statements.
This session will be immediately followed by the Federal Minister for Resources, Energy and Northern Australia Josh Frydenberg, who is slotted to give a presentation promoting innovation and growth in the Australian mineral exploration and mining sectors.
If you are not already registered, you can still register by visiting the AMEC website.