Since its inception a year and a half ago, Oban Mining (Formerly Braeval Mining) has worked diligently to carve a space for itself in the dynamic gold mining industry. A small resource company focusing on the exploration and development of gold projects in the Americas, it wasn’t long after CFO Blair Zaritsky joined the company that he turned to Certent DisclosureNet. From previous experience, he knew the solution could help Oban overcome the challenges that young companies in the industry commonly face, such as producing timely and accurate disclosures.
Lacking the proper tool for the task
Over the past year and a half, Oban Mining has encountered many “firsts” – it has hired new directors, drafted financial statements and completed an MD&A in its first preliminary long form prospectus. Following the common strategy of learning by example, Zaritsky began drafting these documents by researching precedent disclosures that peer companies had recently filed.
But this research was easier said than done, as the company was using a rudimentary filing search website that made it challenging to find specific disclosure examples. The program Zaritsky’s team was using during busy research times was slow, unreliable and unintuitive, which negatively impacted his company’s overall financial reporting efficiency.
For Zaritsky, who had previously worked for companies with Certent DisclosureNet access, the software was the obvious solution for the research pains his company was enduring. “Having used DisclosureNet for the last five years or so,” he begins, “I knew that its capabilities far surpassed those of the primary research application used at Oban.”
It’s all about the specifics
Above all, Zaritsky credits Certent DisclosureNet with efficiently providing highly specific and relevant search results that he uses to save time and stay informed.
Zaritsky recalls a particular instance, when Oban was hiring new directors. He got immediate results from a simple Certent DisclosureNet search for peer companies that had filed management information circulars dealing with this topic. These documents guided his own work and helped ensure he was disclosing accurately, while saving time by decreasing the labor of formatting and drafting the documents from scratch.
When asked about his favorite Certent DisclosureNet feature, Zaritsky enthuses that “[he] love[s] how specific searches can get in DisclosureNet, and how simple it is to find exactly what you’re looking for.” The proximity and full-text searching capabilities within Certent DisclosureNet are a couple of features he mentions that enable users at Oban to get so granular with their searches.
Drilling down to save time
Since introducing Certent DisclosureNet as the primary research solution at Oban Mining, Zaritsky says it has streamlined research processes by eliminating hours of time wasted browsing through public filings.
He attributes Certent DisclosureNet to helping him:
◆ Save 5-6 hours of work each month
◆ Inform content and format for Oban Mining’s financial statements, management information circular and press releases
◆ Stay current on industry news and peer activity
Over the last five months, Certent DisclosureNet has been the go-to research solution at Oban Mining. Previously, Zaritsky and his team’s research application was time consuming and the results it returned were less relevant. Knowing that there was a more efficient and intuitive method, Zaritsky brought in Certent DisclosureNet. Now he spends far less time mining for information, and a lot more time proactively applying it to help position his small business for compliance and success.