Page 16 B y K e vin V inc ent I t can be easily ar gued tha t shor t sell ers ha v e a shr ew d understanding of a balanc e sheet and the abilit y t o pr edic t the futur e Not withstanding which side of the opinion ledger on which y ou migh t fall some of C ana da s highest pr ofle mining adv oca t es ar e shining a spotligh t on the mor e nefar ious side of shor t selling Ef or ts began in la t e No v ember 2019 t o c on vinc e pr o vincial r egula t ors in On tar io t o in t er v ene in the pr eda t or y shor t selling tac tics of in v est ors who specifcally tar get junior mining c ompanies T he S a v e C anadian M ining SCM ini tia tiv e w as launched b y T er r y L ynch CEO of Chilean M etals I t star t ed a t the last PD A C P r ospec t ors and D e v elopers A ssocia tion of C anada and I w as in m y e xhibit ors r o w and it w as super quiet L ynch t old M ining Lif e he w as r e f er r ing t o the sev er ely diminished lev el of in t er est in junior mining c ompanies a t the ev en t A c c or ding t o the g r oup s w ebsit e the goal is as f ollo w s I n 2012 IIR OC and CSA r emo v ed a tr ading rule k no wn as the tick t est which r estr ic t ed shor t selling t o neutr al or sales t o posi tiv e pr ic e changes a t the time of the sale T hese changes w er e applied not only t o the main listing v enue of T SX V en tur e Ex change but ar e equally applied acr oss all C anadian tr ading v enues of which ther e ar e 14 t oda y r educing T SX V en tur e s abilit y t o ef f ec t an y change Sinc e r emo v al of the tick t est the C anadian mar kets ha v e ev olv ed and ther e no w e xists a dynamic wher e shor t selling ac tivi ties high fr equenc y tr ading and al gor ithms ar e e xploiting the lack of a tick t est t o the detr imen t of C anada s junior mar kets W e call on CSA and IIR OC t o ev alua t e r e instituting the tick t est S a v e C anadian M ining L ynch sa y s par t of the blame r ests with junior miners themselv es W e let this happen b y not adv oca ting f or ourselv es he said PD A C runs a fne ev en t but it doesn t r eally speak f or junior mining on some of these issues he added L ynch adds tha t it s a ma tt er of lif e and dea th r igh t no w W ithout capi tal junior miners can t go f or w ar d and if they can t mo v e f or w ar d the industr y is in danger of c ollapsing I f the gr oup is suc c essful the y ar e lo ok ing f or the f ollo wing out c omes F irst t o r est or e the no shor t on the uptick rule or abolish shor t selling on list ed c ompanies under 250 mil lion S ec ond t o secur e a public c om mitmen t fr om in v estmen t banks t o allo w list ed c ompanies t o sell pr i v a t e plac emen ts t o br okers without ha ving t o be appr o v ed b y a names c ommitt ee Br okers ha v e a fduciar y r esponsi bilit y t o ac t in their clien ts best in t er est and tha t should go v er n whether or not they ar e able t o ha v e their in v est ors in v est in pr iv a t e plac emen ts Br okers should r ec eiv e c ompensa tion similar t o the f ees they get fr om par ticipa ting in an IPO said SCM in their f ounding sta t emen t SCM out lines a numbers of fac ts t o back their case F irst and most impor tan tly fnancing f or mining has been on a st eady decline sinc e the IIR OC rule w as changed in 2012 W hile c ommodit y mar kets ha v e been challenged the c ombina tion of 14 dif er en t tr ading v enues and elimi na tion of the tick t est has cr ea t ed an en vir onmen t tha t is difcult f or T SX V issuers t o build suppor t of pr e domina t ely r etail shar eholders who f eel tha t algor ithms ar e able t o get an inside tr ack sta t es the g r oup S ec ond Or eninc s inde x demon str a t es tha t this lack of fnancing ac tivit y is also c on tr ibuting t o a div er genc e bet w een c ommodit y pr ic es and the equities of junior c ommod it y c ompanies as junior c ompanies ha v e been unable t o fnanc e and c on tinue e xplor a tion A nd thir d C anada s r esour c es mar kets ar e w or ld leaders b y shar e of number of list ed c ompanies num ber of fnancings dollar v alue r aised and ethical standar ds T he r emo v al of the tick t est and cr ea tion of alt er na tiv e tr ading mar kets is something tha t man y other jur isdic tions ha v e done and this is an oppor tunit y f or C anada t o lead in suppor ting ju nior mar kets thr ough our globally unique pla tf or m the T SX V en tur e Ex change b y r e instituting the tick t est and allo wing T SX V en tur e issu ers t o tr ade on their home mar ket only the T SX V T he c o f ounders of the or ganiza tion include Chilean M etals I n v esting New s Net w or k K uy a Silv er James W est s M idas L ett er W ar r ior G old I nside Explor a tion P endr y C annon S t osic A ssocia t es and a number of high pr ofle in v est ors including Er ic Spr ott Suppor t ers who sig n up f or SCM s new s upda t es thr ough their w ebsit e ar e immedia t ely g r eet ed with a per sonal message fr om Spr ott widely r egar ded as one of the w or ld s t op gold adv oca t es S a v e C anadian M in ing sa y s it is a mo v emen t t o r etur n mar ket rules t o the fair and tr ans par en t standar d tha t helped deliv er pr osper it y f or o v er 142 y ears I n an e x clusiv e in t er view with M in ing Lif e Explor a tion New s L ynch said it is almost unethical t o go out and ask f or in v estmen t k no wing tha t billion dollar hedge funds who spe cializ e in shor t selling ar e w aiting in the wings t o pillage in v est ors T o see the c omplet e in t er view with L ynch visit the video sec tion of w w w M in ingLif eOnline net Initia tiv e Launche d Page 17 BIBI BILEVELLING SCIS SOR LIFT S MADE IN IT AL Y MADE IN CANAD A ELECTRICDIESEL BIENERG Y A UT O PLA TFORM LEVELLING NONMARKING TRA CK S 660LB PLA TFORM CAP A CITY LITHIUM ION BA TTERIES L ONGITUDE LEVELLING UP T O 20 LA TERAL LEVELLING UP T O 14 LA TERAL LEVELLING UP T O 17 LITHIUM ION BA TTER Y W ONBO ARD CHARGER WIRELES S REMO TE C ONTROL ELECTRICDIESEL BIENERG Y NONMARKING TRA CK S C OMP A CT DESIGN 27 MIN WID TH L ONGITUDE LEVELLING UP T O 16 HIGHQU ALITY S AFE AND HEA V Y DUTY PRODUCT S THUNDER BA Y 988 ALL O Y DR ON P7B 6A5 PHONE 80 7 6239 56 1 T OLL FREE 1800 4656 9 55 S A UL T S TE MARIE 23 5 DRIVEIN RD ON P6B 5X5 PHONE 7 0594 9 7 3 7 9 T OLL FREE 185594 9 7 3 7 9 SUDBUR Y 1130 L ORNE S T ON P3C 4S9 PHONE 7 0566 9 1234 T OLL FREE 18 77 233333 5 TM S T ORA GE T OOL ORGANIZA TION SP A CE OPTIMIZA TION WEVE GO T THE NOR TH C O VERED SPIDER SELFPROPELLED AERIAL W ORK PLA TFORMS