Mining ladies aim to raise $200,000 for cancer research

In September, eight women from the mining industry will join hundreds of other women in a 2-day, 60-km walk to raise money for Toronto’s Princess Margaret Hospital Foundation, as part of the charity’s Weekend to End Breast Cancer.

Mining’s great eight are: Nean Allman, principal of Allman and Associates; communications consultant Kate Armstrong; Teresa Barrett, membership and communications co-ordinator with the Prospectors and Developers Association of Canada (PDAC); MaryAnn Mihychuk, director of regulatory affairs with the PDAC; Monica Ospina, a consultant with the Council of Great Lakes Governors; Jane Werniuk, editor of Canadian Mining Journal; Margaret Werniuk, Jane’s daughter; and PDAC communications director, Saley Lawton.

To participate, each walker must raise funds for research into cancer prevention and treatment. Jane Werniuk has already raised more than $17,000. The group is aiming to raise a lofty $200,000 and do so mostly through the donation of shares, likely in mining companies.

The group is targeting shares because under new federal tax rules, donations of securities made to registered charities no longer incur capital gains.

Those who donate securities to the fundraiser will receive a tax receipt equal to the value of the shares based on their closing price the day they’re legally transferred to the foundation’s account. And the entire amount of the tax credit can be used against other sources of income.

Another tax advantage comes through donating flow-through shares, because the net purchasing cost between the original tax writeoff and deductions as a result of the charitable tax receipt is considerably lessened.

The foundation sells the shares as soon as possible after they have been received.

Those who want to donate securities must complete a letter of authorization and give it to their broker. The form can be found online and must contain one’s Committee on Uniform Security Identification Procedures (CUSIP) number, which most brokers should have. The number acts as a transaction record in case the transfer needs to be tracked.

Of note, under the Gift Designation heading, you should specify the Weekend to End Breast Cancer, Women in Mining.

Once the form is submitted to a broker, a copy of the completed form should be sent to Elisa Williams at the Princess Margaret Hospital Foundation. She can be reached via e-mail at elisa.williams@pmhf.ca, by fax at (416) 946-6563, or phone (416) 946-4501. Of note, securities are transferred into the hospital’s account anonymously, so this step should ensure that the donation is credited to the Women in Mining team.

Cash donations can be made online at www.endcancer.ca

For further information, call the associate director of the Princess Margaret Hospital, Zak Bailey, at (416) 946-2842.