The Northern Miner

Economic Evaluation and Investment Decision Methods
2020-03-23 08:00 - 2020-03-25 17:00 (America/Toronto) | Colorado School of Mines, 80401
This intensive 2½- or 4-Day course has been presented nearly 1,025 times to more than 23,500 people. Organized for managers, engineers, geologists, landmen, scientists, accountants, and others concerned with evaluating investments, this course relates to the economic analysis of income producing and service producing investments using discounted cash flow analysis criteria and procedures.
The course covers economic analysis techniques used to optimize the development and operation of mining, petroleum and non-natural resource production and processing operations.
The course textbook, Economic Evaluation and Investment Decision Methods, 16th Edition, 2019 by Franklin J. Stermole, John M. Stermole, and Andrew H. Pederson, demonstrates the evaluation techniques presented using a variety of applications for people with technical and non-technical backgrounds, with or without previous evaluation experience.

Exploration for Magmatic Ore Deposits Modular Course
2020-03-31 - 2020-04-09 | Laurentian University, 935 Ramsey Lake Road, Sudbury, Ontario, P3E 2C6, Canada
The Harquail School of Earth Sciences at Laurentian University offers some of the most comprehensive field- and laboratory-based Earth Science graduate research and education courses in the world. The modular courses are designed for geoscientists employed full-time in the mineral exploration industry, industry professionals needing professional development and accreditation, and graduate students.
GEOL 5606 – Exploration for Magmatic Ore Deposits
31 Mar – 09 April 2020
On site (3 cr.) and webcasting delivery (non-credit). 10-day intensive course in magmatic Ni-Cu-(PGE), PGE, Cr, and Ti-V deposits including 3 days of theoretical material, 8 days of exploration applications and case studies, and (weather permitting) a 1/2 to 3/4- day field trip in the Sudbury Igneous Complex. Topics include: S and Cr solubility and metal partitioning in maficultramafic magmas; generation of fertile magmas; applications of stable and radiogenic isotopes (including massindependent S isotopes) in identifying S and metal sources; sulfide transport and localization mechanisms; textures and deformation of Fe-Ni-Cu sulfide ores, sulfide recalculation and plotting methods; geology/genesis of and exploration for Ni-Cu-(PGE) deposits in mafic-ultramafic lava channels, feeder sills/dikes, and magma conduits; geology/genesis of and exploration for PGE deposits in mafic-ultramafic layered intrusions; geology/genesis of and exploration for stratiform and podiform Cr deposits and Ti-V deposits in anorthosites and mafic-ultramafic intrusions (including those in the “Ring of Fire” district of northern Ontario). Case studies and laboratory practicals will include: Alexo (Ontario), Duke Island (Alaska), Duluth (Minnesota), Kambalda (Western Australia), Noril’sk-Talnakh and Pechenga (Russia), Jinchuan and other deposits in China, Thompson (Manitoba), Raglan (Nunavik), Voisey’s Bay (Labrador), and Sudbury Ni-Cu-PGE; and Bushveld (South Africa) and Stillwater (Montana) PGE and Cr; and ‘Ring of Fire” Cr.
Non-student cost: Full Course: CDN $3304 + 13% HST. Individual Days: CDN $339 + 13% HST.
Mix and match group rates are also available. Videoconference participation is available only for non-students.
Live Webcast Option
Several of the modules are available to industry professionals/non-students via live webcast from our state-of-the-art Executive Learning Centre, which provides an immersive experience if remote participants have high-speed fibre connections and use high-quality headsets. Students enrolling for credit must enrol in the on-campus course so that they can complete the laboratory exercises, but the remote option may be preferable for non-students. Contact the course coordinator if you are interested in this option.

Valuation of Mineral Projects Based on Technical and Financial Modelling
2020-03-31 08:00 - 2020-04-03 17:00 (America/Vancouver) | UBC Robson Square, 800 Robson Street, Vancouver, BC, V6Z 3B7, Canada
Market turbulence significantly affects the mining industry. While the intrinsic value of a mineral project is still a key consideration, understanding the interrelationship between technical and financial risk to truly understand the long term value of an asset, helps companies make better investment (or divestment) decisions. Companies that are able to secure debt finance for both development and acquisition of advanced projects have greater strategic flexibility. Understanding how debt impacts the valuation of projects allows for an objective approach to determining levels of gearing; this is relevant to both the investment banking and mining communities. The Valuation of Mineral Projects course is designed to address these issues.
This course is for professionals with a basic to intermediate understanding of the principles of the accounting cash flow model that wish to gain expertise in quantitative finance in the context of mining. Actual operating mine valuations are a central focus of the course. To gain the most out of the course, attendees should have had some exposure to the technical aspects of minerals and mining.
Attendees are expected to have their own laptop computers available for this course. Workshop sessions are an integral part of the course delivery. Use will be made of the IC-MinEval software, which automates the generation of Excel™-based spreadsheets to produce models for a wide range of mineral projects. These models can be used independently of the software once the course is completed.
At the end of the course, attendees will:
Know how to build a financial model using realistic assumptions and inputs such as a rate of production appropriate to the size of the resource, and associated capex and opex costs using CostMine data.
Understand the circumstances in which it is appropriate to set up models based on a straight discount rate basis vs a model that includes debt (in the latter case the approach to determining the appropriate level of debt will be explained).
Be able to analyse the financial performance indicators generated by the IC-MinEval software outputs and indicate the valuation that could be placed on the asset based on the output.
Be able to undertake a sensitivity analysis on key technical and financial variables. Particular attention will be given in the course to why sensitivity on variables such as mining dilution should not be considered.
Appreciate the role of financial models in identifying those technical variables that have the greatest impact on financial performance and then back-engineering that to the corresponding technical risk.
Have worked through a variety of case studies that are based on real projects.
This course is characterized by dynamic interaction between presenter and delegates that promotes inter-delegate professional dialogue.
Previous courses presented in Vancouver, London, Johannesburg and Stockholm have received wide participation from major finance and mining companies, providing an opportunity to bring together professionals with common concerns in this area.
In addition to the presentation slides, attendees will receive a copy of the book Metals and Energy Finance, authored by Prof. Buchanan.
