Banyan Gold Corp
Climate Impact & Sustainability Data (2022, 2023-09-30, 2024-04-01 to 2024-06-30)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Health and Safety
- Governance
Environmental Achievements
- Reduced greenhouse gas emissions by switching from diesel to propane for on-site power generation and began evaluating options to connect to the grid to take advantage of hydro-electric power
Social Achievements
- Hiring and training locally
- Positive community connections built, including welcoming tours to the site by staff and members of First Nation of Na-Cho Nyäk Dun
- Established a scholarship in the name of Jim McFaull and Banyan for students studying in fields related to geology and mining in Yukon or working for Yukon mining companies
- Supported Yukon students through increased attendance and graduation rates with the Every Student, Every Day fund, distributing a record $300,000 in funding
- Launched the Community Newsletter “Haldane Happenings”
Governance Achievements
- Welcomed Marc Blythe to the Board of Directors
- Welcomed Jason Neal as an Advisor
- Announced listing for quotation and sale on the OTCQB Venture Market
Climate Goals & Targets
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2023-09-30
Environmental Metrics
Social Achievements
- Welcomed Kai Woloshyn as Vice President of Project Development, bringing experience in mine development, environmental assessment, permitting, reclamation, and First Nation engagement.
- Welcomed Brad Thrall as an Advisor, contributing over 35 years of experience in metallurgical engineering, mine development, operations, and corporate executive roles.
Governance Achievements
- Held Annual General & Special Meeting of Shareholders on June 15, 2023, approving the number of directors, director slate, auditor appointment, and stock option plan renewal.
Climate Goals & Targets
Environmental Challenges
- Exploration, development, and operating risks including geological formations, rock falls, seismic activity, flooding, environmental pollution, and potential legal liability.
- Substantial capital requirements and liquidity needs for exploration and potential mining operations.
- Fluctuating mineral prices affecting the economics of mineral exploration.
- Requirement for permits and licenses, which may be difficult to obtain or subject to regulatory changes.
- Competition within the mining industry for properties and personnel.
- Reliance on management and key personnel.
- Environmental risks and hazards associated with mining operations and compliance with environmental regulations.
- Governmental regulations and potential changes affecting exploration and mining activities.
- Potential resistance from local residents.
- Conflicts of interest among directors and officers.
Mitigation Strategies
- Precautions to minimize risks associated with exploration and mining operations.
- Seeking additional equity or debt financing to meet capital requirements.
- Careful evaluation and experience to mitigate exploration risks.
- Working to obtain necessary permits and licenses.
- Strategies to attract and retain qualified employees.
- Compliance with environmental regulations.
- Addressing potential conflicts of interest in accordance with the ABCA.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2024-04-01 to 2024-06-30
Environmental Metrics
Social Achievements
- Henry Marsden, MSc. joined the advisory board bringing his 40 years of experience in executive exploration and mine advancement positions.
Governance Achievements
- On August 6th, 2024 the Board of Directors appointed Hayley Halsall-Whitney to the board as an additional independent director and appointed current director Marc Blythe as Chair of the Board
Climate Goals & Targets
Environmental Challenges
- Exploration, Development and Operating Risks: risks associated with operating parameters and costs resulting from the scaling up of extraction methods tested in pilot conditions; uncertainty and risk associated with operating parameters and costs; unusual and unexpected geological formations, rock falls, seismic activity, flooding and other conditions involved in the extraction of material; environmental pollution and consequent liability; Local Resident Concerns: resistance from local residents that could prevent or delay exploration and development; Competition: competition for acquisition of mineral claims, leases and other mineral interests, as well as for recruitment and retention of qualified employees; Reliance on Management and Dependence on Key Personnel: success largely dependent upon the performance of its directors and officers and the ability to attract and retain key personnel; Environmental Risks: environmental risks and hazards and are subject to environmental regulation; Governmental Regulations and Licenses and Permits: activities are subject to provincial and federal approvals, various laws governing prospecting, development, land resumptions, production taxes, labour standards and occupational health including potential Covid restrictions, mine safety, toxic substances and other matters; Uninsurable Risks: unexpected or unusual geological operating conditions, rock bursts, cave-ins, fires, floods, earthquakes and other environmental occurrences; Financing Risks and Dilution to Shareholders: limited financial resources; need for additional funds for further exploration and development; potential for dilution to shareholders through issuance of additional equity; Fluctuating Mineral Prices: economics of mineral exploration is affected by commodity prices, the cost of operations, variations in the grade of minerals explored and fluctuations in the market price of minerals; Requirement for Permits and Licenses: substantial number of additional permits and licenses may be required; Conflicts of Interest: certain directors and officers engaged in other business activities that may lead to conflicts of interest.
Mitigation Strategies
- Precautions to minimize risk will be taken in operations.
- Conflicts of interest will be resolved in accordance with the provisions of the ABCA.
- The Issuer may decide not to insure against certain risks as a result of high premiums or other reasons.