TORONTO STOCK EXCHANGE 13 (ii) Mining Companies There are three categories available to applicants in the mining sector: (i) Producing Mining Company, (ii) Mineral Exploration & Development Company and (iii) Senior Mining Company. Industrial mineral companies (those with properties containing minerals which are not readily marketable) not currently generating revenues from production will normally be required to submit commercial contracts and meet the requirements of the Producing Mining Company category. Producing Mining Company Mineral Exploration & Development Company Senior Mining Company Qualifying Property as detailed in a report conformed to NI 43-101 Proven and probable reserves to provide a 3 year mine life on a Qualifying Property detailed in a report by an independent qualified person AND Evidence satisfactory to the Exchange indicating a reasonable likelihood of future profitability supported by a feasibility study or documented historical production and financial performance Advanced property detailed in a report prepared by an independent qualified person: a property with a current mineral resource estimate and/ or a current mineral reserve estimate, as defined in NI 43-101 Proven and probable reserves to provide a 3 year mine life detailed in a report prepared by an independent qualified person Production OR Work Program In production OR Have made a production decision on the relevant Qualifying Property Planned work program of exploration and / or development of at least $5 million that is satisfactory to the Exchange, will sufficiently advance the property and is recommended by a qualified person - Funding 18 month run rate calculation demonstrating sufficient funding to bring the Qualifying Property into commercial production and adequate working capital to fund all budgeted capital expenditures, signed by the Chief Financial Officer and a qualified person 18 month run rate calculation demonstrating sufficient funding to complete the planned program of exploration and/or development and meet estimated general and administrative costs, anticipated property payments and capital expenditures for the period, signed by the Chief Financial Officer and a qualified person Adequate working capital to carry on the business Capital Structure Positive working capital in the most recent interim and audited periods OR Alternate evidence of liquidity Positive working capital in the most recent interim and audited periods OR Alternate evidence of liquidity Positive working capital in the most recent interim and audited periods OR Alternate evidence of liquidity Income - - Annual audited pre-tax net income from continuing operations in the fiscal year immediately preceding the TSX listing application
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