London Stock Exchange publishes guidance for AIM companies in the mining and oil and gas sectors.
The London Stock Exchange has recently published guidelines for mining, oil and gas companies which are listed on the Alternative Investment Market. This is a reflection of the fact that there are a large number of such companies now quoted on AIM and they are perceived as being high risk.
The guidelines apply to resource companies, such as exploration, development and production companies but they do not apply to companies that purely invest in or provide consultancy advice or other such services to resource companies. The principal requirement of the guidance is the appointment of a competent person (ie a qualified professional person being a member of good standing of a recognised scientific or engineering professional association) and the preparation of a competent person's report. Essentially, these guidelines seek to reflect current best practice in this market.
The guidelines can be accessed at http://www.londonstockexchange.com/en-gb/products/companyservices/ourmarkets/aim/.