Read Report - Nuinsco Resources Limited

20
2005 ANNUAL REPORT
responsibility for companies and their officers,
directors and employees. There is no assurance
that future changes in environmental regulation,
if any, will not adversely affect the Company’s
operations. Environmental hazards may exist
on the properties in which the Company holds
interests which are presently unknown to the
Company and which have been caused by
previous or existing owners or operators of the
properties or by illegal mining activities.
Government approvals and permits are
sometimes required in connection with the
Company’s operations. To the extent such
approvals are required and not obtained, the
Company may be delayed or prohibited from
proceeding with planned exploration or
development of mineral properties.
Amendments to current laws, regulations and
permits governing operations and activities of
mining companies, or more stringent implementation
thereof, could have a material adverse
impact on the Company and cause increases in
capital expenditures or require abandonment or
delays in development of new mining properties.
CONTROLS AND PROCEDURES
As of December 31, 2005, an evaluation was
carried out, under the supervision of and with
the participation of management, including the
Chief Executive Officer and Chief Financial
Officer, of the effectiveness of our disclosure
controls and procedures as defined in Multilateral
Instrument 52-109. Based on that evaluation,
the Chief Executive Officer and Chief Financial
Officer concluded that the design and operation
of these disclosure controls and procedures
were effective as of December 31, 2005.
FORWARD LOOKING STATEMENTS
These consolidated financial statements and
management’s discussion and analysis contain
certain forward-looking statements relating to,
but not limited to, the Company’s expectations,
intentions, plans and beliefs. Forward-looking
information can often be identified by forwardlooking
words such as “anticipate,” “believe,”
“expect,” “goal,” “plan,” “intend,” “estimate,”
“may” and “will” or similar words suggesting
future outcomes, or other expectations, beliefs,
plans, objectives, assumptions, intentions or
statements about future events or performance.
Forward-looking information may include
reserve and resource estimates, estimates of
future production, unit costs, costs of capital
projects and timing of commencement of
operations, and is based on current expectations
that involve a number of business risks and
uncertainties. Factors that could cause actual
results to differ materially from any forwardlooking
statement include, but are not limited
to: failure to establish estimated resources and
reserves; the grade and recovery of ore which
is mined varying from estimates; capital and
operating costs varying significantly from
estimates; delays in obtaining or failures to
obtain required governmental, environmental
or other project approvals; inflation; changes
in exchange rates; fluctuations in commodity
prices; delays in the development of projects
and other factors.
Potential shareholders and prospective
investors should be aware that these
statements are subject to known and unknown
risks, uncertainties and other factors that could
cause actual results to differ materially from
those suggested by the forward-looking
statements. Shareholders are cautioned not
to place undue reliance on forward-looking
information. By its nature, forward-looking
information involves numerous assumptions,
inherent risks and uncertainties, both general
and specific, that contribute to the possibility
that the predictions, forecasts, projections and
various future events will not occur. The
Company undertakes no obligation to update
publicly or otherwise revise any forwardlooking
information whether as a result of
new information, future events or other such
factors which affect this information, except
as required by law.
MANAGEMENT’S DISCUSSION & ANALYSIS