Resource Estimation, Reporting and Risk Modeling - Training for Executives
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Objective
This two-day seminar aims at achieving an understanding at a theoretical and practical level about the development of resource models and the rules for achieving quality output. It will provide:
- An understanding of key concepts in resource estimation
- Do’s and don’ts of resource estimation based on practical examples
- An understanding of different levels of feasibility studies and the notion of recoverable resource
- Introduction to resource reporting codes such as JORC, NI 43-101, rules, criteria, developments
- Overview of project valuation techniques and how to account for project risk
By the end of this seminar participants should have a high level understanding of key resources evaluation concepts, market reporting codes and resource project valuations techniques.
Who should attend
The content of the course and the wide experience of the trainers aims to address a large audience of professionals involved in the estimation or the analysis of mining resource estimates and their reporting to the markets (business analysts, resource auditors in mining companies, banks, advisory firms, etc.).
Course content
- Day 1: The mining project lifecycle and the resource estimation theory
- From early days discovery to full feasibility: the importance of doing it right
- Drilling programmes and data quality
- Geology and mapping
- Resource estimation theory: the geostatistical framework
- Variography and Kriging
- Other estimation methods
- Practical examples
- Metallurgical sampling and ore characterisation
- The different levels of resource studies
- Notion of recoverable resource estimation
- Which model for my deposit? Practical considerations
- Day 2: Reporting and resource model building
- Why reporting codes exist
- The JORC code
- Relation between resources and reserves within the code
- What the JORC code does and does not
- Reporting rules
- NI 43-101 and other codes
- How geostatistics help
- Global estimation precision
- How to build simulations and use them
- Appraise a project value
- Scenario analysis and real options
This course may be scheduled for another date and/or location. Tailored courses may also be organized on client demand. Please contact your sales representative to request more information.
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