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Northern Ontario has 10 territorial districts, 145 municipalities, 106 First Nations and more than 150 unincorporated communities.

Corporate Financial Test

Companies having a single A- rating (Standard and Poor's) or equivalent from at least two specified rating agencies will be able to fully self-assure for the life of the mine.
Companies having a rating of BBB- (Standard and Poor's) or equivalent from at least two specified rating agencies will be able to fully self-assure for the first half life of a mine provided that the life of the mine is equal to or greater than eight years.

Life of a mine is based on the proponent's proven and probable reserves against planned schedules of production

Companies having a single A- rating (Standard and Poor's) or equivalent from at least two specified rating agencies will be able to fully self-assure for the life of the operation.
Companies having a rating of BBB- (Standard and Poor's) or equivalent from at least two specified rating agencies will be able to fully self-assure for the first half "life of a mine" . "Life of a mine" is calculated by prorating the proponent's portion of mined material supplied to that operation.

Such operations will be allowed to be self-assured under the following conditions:

provided that the "life of the mine" is equal to or greater than eight years.
At least 67 per cent of the operation's total feed is from the company's mines but only in proportion to its ownership interest in those mines.
At least 33 per cent of the operation's total feed is from the company's Ontario mines but only in proportion to its ownership interest in those mines.

The standards for determining proven and probable reserves for the corporate financial test may be found in Canadian Securities Administrators' National Instrument 43-101.

For inquiries concerning the corporate financial test, please contact:

Ed Solonyka
Co-ordinator, Financial Assurance
(705) 670-5829
ed.solonyka@ontario.ca