3 AAC 08.100 - Application to register mining securities
(a) For the
registration of mining securities, an applicant shall give the location and
means of access to the mining properties now held or intended to be acquired
and the nature of the title under which those properties are held or intended
to be held. The applicant shall indicate any known risks to which that title
may be subject, and include
(1) a survey
certificate, or a photostatic copy of that certificate, prepared and signed by
a qualified mining engineer or registered land surveyor showing the location of
unpatented claims, with at least transit stadia accuracy;
(2) a report of a qualified mining engineer
or professional geologist setting forth at least the following:
(A) a description of each property, including
its geographical features, mineralization, occurrence and disposition of ore or
mineral bodies, and other conditions of which an investor should reasonably be
informed;
(B) the identification of
principal metallic or other constituents of the deposits to be explored or
developed; the report must describe the characteristics of those deposits;
unless a body of ore has been sufficiently tested to be properly classified as
proven or probable ore, the report
(i) may not
make a claim as to the existence of a body of ore; and
(ii) must state that a body of commercial ore
is not known to exist on the property;
(C) the names of the locators of each
unpatented claim, with a statement that each claim has been properly located in
accordance with applicable laws and regulations, that surface boundaries have
been properly marked, that all monuments or markers are in place, that location
notices have been recorded in the recorder's office of the district court in
which the claims are situated, and that all assessment work as required by law
has been done;
(D) a surface map of
the properties included in the report showing their relative location to the
general area and the means of access to those properties;
(3) a title opinion of an attorney relating
to each claim or group;
(4) a copy
of the deed and any lease, option, contract to purchase, or assignment relative
to those claims, with a statement signed by lessor or vendor that the
instrument is presently in good standing and that no forfeiture or default has
occurred;
(5) a copy of any
contract for engineering services, core drilling, development work, and similar
services; and
(6) a report of the
technical training and experience in mining of each of the officers, directors
and promoters of the person for whom the application is made.
(b) An SEC Form S-3 (Registration
Statement) filed with the SEC will be acceptable application for this
section.
(c) For purposes of this
section, a body of ore is
(1) proven ore if it
is so extensively sampled that the risk of failure in continuity of the ore in
that body is reduced to a minimum; and
(2) probable ore if the risk of failure in
continuity is greater than for proven ore as described in (1) of this section
but sufficient justification exists to assume continuity of the ore.
Notes
Authority:AS 45.55.100
AS 45.55.950
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