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To optimise the haulage of the large tonnages produced from stopes in this high production gold mine, an ore pass and feeder system was introduced. This ore pass was designed and developed in 2006 and the plate feeder installed and commissioned soon after. Cavity Monitoring Surveys (CMS) have been undertaken of the ore pass since it was commissioned. The original thickness that was surveyed of the pillar between the ore pass and decline in 2006 was approximated to be 19 m. Throughout its use large blocks of rock were reporting at the plate feeder. This was the first indication that the ore pass was failing somewhere between the tipping level of the 9410 level and the plate feeder at the 9330. Even so CMS surveys were not taken systematically to firstly identify the area of failure or for monitoring. In August 2008 after implementing management systems, large blocks were still reporting to the plate feeder. The decision was made to empty the pass enough to carry out a CMS survey of the area. Subsequently it was discovered that the area of failure was between the decline and ore pass and that since the first survey the pillar thickness had been reduced to approximately 9.7 m. Further management controls were put in place to slow movement of the material and to limit the use of the 9410 tipping level, but this did not alleviate the rate of failure entirely. The results of an initial inelastic numerical model indicated that most of the pillar was damaged and that failure into the decline likely if no changes were made. The numerical modelling predicted that even if material was no longer passing through the ore pass interaction between the voids was unavoidable and would most likely result in instability. The ore pass and plate feeder are an integral part of the haulage system for the remaining life-of-mnie. Two solutions were sought to firstly reinforce and stabilise the pillar between the ore pass and decline and secondly to rehabilitate the ore pass or find an alternate design that could still utilise the plate feeder. This paper summarises the analysis and resulting rehabilitation that was used to accomplish this.

Nov 25, 2010

During an eight month period, January to August 1978, nine bore holes were drilled in the Mikonui River gravels. On account of two rebores required from near bottom, the number of bores is in effect 11. Just on 1300 feet were drilled with an average depth of 120 feet. Depth varied from 102 feet to 133 feet. Penetration on average per hole value, varied from 7.4 to 16.4 feet per day. Gold values were even more erratic. Drill rig used was the Keystone churn drill manufactured locally by the Dispatch Foundary. It is skid mounted and requires a crew of two persons.

Jan 1, 1979

By M E. Taulis, S Hayton, D A. Manhire, J G. Pope

Successful development of coal seam gas (CSG) resources in low-rank coalfields such as the Powder River Basin has raised interest in CSG from low rank coal in New Zealand. Kenham Holdings Limited holds 12 Petroleum Exploration Permits (PEP) covering some of New ZealandÆs low-rank coal and lignite resources and has engaged CRL Energy Limited to assist in the systematic evaluation of the CSG potential of the permits. To date, exploration results from seven New Zealand coalfields reflect differences in coal type, rank, depositional environment and depth of burial between coalfields. Several of the explored coalfields are considered prospective for CSG. One of the most advanced Kenham exploration programmes is in the Hawkdun Coalfield, Central Otago.   The Hawkdun Coalfield contains a single, thick lignite seam with properties that are similar to the Powder River Basin. Preliminary results indicate the Hawkdun Coalfield is prospective for CSG with the potential to contain between 25 and 60 PJ of gas; enough to supply a 30MW power station for ten to 25 years. Further drilling is planned to investigate the economic viability of the Hawkdun Coalfield. The in situ permeability of the lignite, the amount and availability of free gas, gas saturation at depth and market opportunities will determine its economic viability. If initial pumping and production results in the planned exploration programme are promising, the Hawkdun Coalfield will be further developed with additional production drillholes to form a trial production pod.

Jan 1, 2004

In the past decade several significant intrusion-related gold deposits have been discovered in terranes historically exploited for tin-tungsten mineralization (eg Tintina Gold Province, Yukon and Alaska, Tasman Fold Belt, Australia and the Altaid orogenic collage in central Eurasia). This paper presents new data on the geological and geochemical characteristics of these deposits that links them to magmatic-hydrothermal processes and highlights their implications for exploration. New data from several intrusion-related gold provinces suggest that these deposits are found in areas that contain granodiorite to granite, but with a locally significant mafic component, have Rb/Sr ratios ranging between 0.1 and 1.0, and are moderately reduced (Fe2O3/FeO ~ 0.1 to 0.6) ilmenite series, metaluminous, I-types. The intrusions are distinct from porphyry copper intrusions and tin granites, but are more akin to tungsten granites. Hydrothermal fluid types vary with depth of emplacement in intrusion-related gold deposits and new proton induced X-ray emission (PIXE) data from syn-ore fluid inclusions in shallow and deep deposits provide fascinating insight into the variation in metal content between the different settings consistent with observed deposit metal associations. Exploration for intrusion-related gold deposits in tintungsten terranes should focus on regions that contain both mafic and felsic intrusion that are moderately reduced, metaluminous, I-type granites rather than terranes with dominantly highly fractionated, strongly reduced, peraluminous S-types. Intrusion-related gold systems occur in variety of deposit styles (in part controlled by host rock, proximity to granite, and depth of emplacement) and exploration geologists need to be aware of the variety of target types in and around the intrusive environment, and be able to recognise whether they are exploring a shallow or deep intrusion-related gold setting.

Jan 1, 2005

By N Madani

Linear interpolation of geo-related variables is important to different aspects of mining engineering such as long and short-term mine planning. The ore deposit description attained from spatial modeling of blast hole datasets has been widely taken into account, particularly, for short-term mine design and grade control, so as to define the ultimate destination of a mined block. It is approved in practice that making the wrong decision leads to losing a huge amount of money for choosing the destination of a mined block. In the case of complex ore deposits, the issue of estimation of variables in the region is questionable and somehow tedious. Due to this fact, modeling those complications in the co-spatial behavior of the grades in multi-element deposits prompts one to employ enhanced geostatistical techniques. Traditional approaches of this purpose such as polygon, inverse distance weighted and even (co)-kriging approaches, are incapable of reproducing those complexities such as non-linearity, heteroscedasticity and geological constraint that frequently exist among the variables of interest in those deposits. Another difficulty in employing those linear interpolations in grade estimation is smoothing effect, in which the estimated grades are over and under estimated. CITATION: Madani, N, 2018. 3D estimation of variables with complexity in cross-correlation structures, in Proceedings Complex Orebodies Conference 2018, pp 49–52 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 21, 2018

Effect of Lattice Impurities on Electronic Properties and Surface Adsorption of Sphalerite - A Density-Functional Theory Study

Sep 13, 2010

Study on the Effects and Mechanics of Na2SO3 to Chalcopyrite and Galena

Sep 13, 2010

Separation of Minerals Using Electrical Fields The mineral processing industry requires alternative separation techniques to help deal with rising energy costs and decreasing ore grades. Dielectrophoresis is one possible technology. It uses non-uniform electrical fields to separate particles on the basis of their permittivity. In order to determine its viability, the dielectrophoretic force was measured for individual chalcopyrite particles in ethanol. The measurements were made by attaching the individual particles to glass fibres and measuring how far they were deflected by a non-uniform electrical field. Six sizes of chalcopyrite particles were tested and the force was found to increase as a function of particle radius cubed. The particles were also positioned at different points in the field in order to determine the effect of the electrical field gradient. The force was found to increase with the inverse cube of the distance from the centre of the particle to the pin electrode. With the effect of these parameters fully characterised, the single particle test cell can be used to determine the permittivity of single particles of various composition.

Sep 13, 2010

By Adusumilli M. S, Subrahmanyam T. V, Rao V. D

Chance find of an economically important mineral on the sur- face and its exploitation without proper exploration work, has become the habit of humanity since the Bronze Age. The explora- tion and exploitation techniques have, however, been substan- tially improved in the technologically developed western world and system controlled major communist countries. Nevertheless, the greatest need is felt in the Third World countries where large mineral potential exists, but with inadequate investments in exploration and exploitation techniques, a handicap that has been beneficial to the more developed countries, since long. The great number of the Third World countries which are striv- ing hard to develop, need to formulate mineral exploration and exploitation strategies which could enable them to develop their resources. This requires planning and creating new concepts of ore deposit types and genetic models, rheology, economics and their innovation and integration. The following approach could help them to be economically "more independent" by the end of this century. 1. Bridging of pure and applied geology gap, and creating con- sciousness of research and development. 2. Revision of mineral resources concepts adopted to modern technological world. 3. Improved mineralogical research, and determinative miner- alogy as an important asset. 4. Creative research and establishing know-how, with philosophical base for regional exploration projects. 5. Indepth investigation into the origin and growth of earth as a system, and its importance in the association, quality, and quantity of metallic, non-metallic and energy resources con- centrations. 6. Mineral beneficiation, targets and strateties; methods of eco- nomic and improved recovery systems. Development of alter- native technology, and utilization of mineral technology strategies. 7. Theoretical and practical modelling by conventional and com- puter techniques of the existing and expected mineral resources, and mineral development. 8. Critical analysis of the status of mineral economics of the Third World and developed world with forecasts for the year 2000 based on problems faced by the developing world. 9. Minerals at cross roads of International Interdependence. 10. Philosophical, realistic, traditional and modern strategies for mineral development. The dynamic economic system opera- tion in national mineral sector.

Jan 1, 1988

By C Doblin

Any value addition to the mineral sands in the Murray Basin (Australia) will generate waste that needs to be disposed of safely. For example, conversion of ilmenite and synthetic rutile to titania (TiO2) pigment would generate large amounts of environmentally undesirable elements. Processing of U+Th containing zircon sands to zirconia or to higher purity zircon would generate a low-level radioactive waste. In this study it is proposed that one way to circumvent the waste problem could be to contain such waste in magnesium-based (Sorel) cements. Containment of waste in magnesium cements is an attractive idea especially for the mineral sand processing companies that could operate in the Murray Basin in the future, because the required magnesium oxide and magnesium chloride may be made cheaply from the saline waters encountered during mining operations. The magnesium cement production process is also far less energy intensive than the Portland cement production process. The results of this study indicate that mixing a waste stream with a slurry of magnesium cement before being discharged to the disposal area would contain the waste in a æconcrete-likeÆ structure, resistant to dispersion by wind and moderate rain. However, some loss of strength and increased leaching of impurities, Mg and Cl could take place in wet climate areas. Ongoing research is being concentrated to develop a new process for making water-resistant magnesium cement.

Jan 1, 2002

By R G. Barker, A B. Christie

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. More than 11 Moz of Au and 50 Moz of Ag have been produced from epithermal deposits in New Zealand, almost entirely from 50 deposits in the Hauraki goldfield. Since the 1980s, new deposits have been discovered at Waihi (Favona, Trio, Correnso) and nearby at Golden Cross. Feasibility studies into reopening the Talisman mine at Karangahake are continuing, and advanced projects with preliminary inferred resource estimates are reported at Wharekirauponga, Neavesville and Muirs. In the Taupo Volcanic Zone, 11 prospects have been drilled, resulting in the definition of large but low-grade Au-Ag resources at Ohakuri. In Northland, several Au, Ag and/or Hg prospects are known, and small quantities of Ag and Hg have been mined. Six prospects have had some drilling, with the most advanced exploration at Puhipuhi. The application of Taupo Volcanic Zone geothermal systems research to the modelling of former hydrothermal mineralising processes in some epithermal prospects has enabled better targeting of exploration.CITATION:Christie, A B and Barker, R G, 2015. Exploration for epithermal gold deposits in New Zealand, in Proceedings PACRIM 2015 Congress, pp 533–540 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By G H. Clark

Batu Hijau is a porphyry copper-gold deposit located onSumbawa Island in the western Banda Arc of Indonesia. The deposit has been evaluated from 54 000 m of drilling in 105 diamond drill holes over a surface area of 1.2 km2 and to a depth of 1000 m below surface (412 m below sea level). A provisional plan is being evaluated to mine 642 million tonnes at an average grade of 0.61% Cu and 0.55 g/t Au (variable cut-off) from an open pit in the higher grade portion of the resource.   The deposit is associated with a calc-alkaline intrusive complex that was emplaced in a thick sequence of andesitic pyroclastic rocks. The oldest and most widespread intrusion is porphyritic to medium-grained, equigranular, quartz hornblende diorite. At Batu Hijau the western diorite contact zone was intruded by two phases of tonalite. The older tonalite is a stock increasing from 200 m diameter at surface to 500 m at sea level. It consists of quartz, plagioclase and hornblende phenocrysts set in a groundmass of similar composition. A younger tonalite intrudes the tonalite stock, quartz and plagioclase phenocrysts are more abundant and it has a finer groundmass than the older tonalite. Brecciation occurs near the older tonalite contacts but there are no breccia pipes or late-stage features such as pebbledykes or postmineralisation intrusive rocks.   Hydrothermal alteration of Old Tonalite and adjacent rocks is centred on the Old Tonalite and is zoned from a core of pervasive potassic alteration grading to an outer propylitic halo. At depth a propylitic assemblage is developed in the low grade core in the Old Tonalite. Phyllic alteration, late stage and mainly fracture controlled, overprints both potassic and inner propylytic zones. Intermediate argillic alteration overprinting is widespread, particularly on the eastern side of the hydrothermal system, where advanced argillic alteration overlies argillic alteration.   Ore grade mineralisation is cylindrical in shape, up to 800 m in diameter, and is centred on the Old Tonalite. A high grade shell (>0.75% Cu) forms an upward tapering cone in and around the Old Tonalite and reaches the surface in the centre of the deposit. Lower in the shell >l g/t Au and >2 g/t Ag accompany >1% Cu. Below 75 m above sea level mineralisation in the Old Tonalite rapidly decreases as a weakly mineralised core develops, but the limb continues to contain mineralisation to at least 412 m below sea level. Fracture and vein-controlled chalcopyrite and bornite are the dominant hypogene copper minerals and are the hosts for most of the gold mineralisation. Gold occurs free and in the lattice of the copper sulphides, and has been observed in quartz.   Weathering, especially where argillic alteration is developed, has produced a strongly leached cap, up to 147 m thick, below which is an irregular copper enriched supergene zone. Where leaching is not developed, such as over the centre of the deposit, an irregular oxide zone and a weakly developed supergene zone may be present.

Jan 1, 1995

The Kyaukpahto gold deposit is located at latitude 23¦ 47Æ 55" N and longitude 95¦ 56Æ 35" E in the Kawlin-Wuntho district, Sagaing Division, Myanmar. Gold mineralisation is hosted in sandstone of the Male Formation (Eocene) and occurs as stockworks and disseminations. The high-grade gold mineralisation is locally concentrated in a breccia zone. The gold deposit is closely associated with a NNE-SSW trending fracture system that forms tensional open fractures. These tensional zones are thought to be directly related to the Sagiang transfer fault system that experienced several hundred kilometres of northward dextral movement during the post-Upper Miocene. Major sulfide minerals are pyrite and arsenopyrite with minor galena, chalcopyrite and sphalerite. Gold mineralisation is associated with intense silicification, sericitisation and argillic alteration. Primary Type I fluid inclusions in the quartz from the mineralised zone are 5 to 15 ¦m across and yield homogenisation temperatures of 239¦ - 310¦C and salinities of 1.2 - 10.9 wt per cent NaCl equivalent. Laser Raman spectroscopic analysis indicates the presence of CO2 and CH4 in Type II fluid inclusions. Sulfur isotope analysis of disseminated pyrite in the ore zone by the laser ablation method indicates d34S values from -5.48ë to +5.53ë. The geology, alteration, ore mineralogy, fluid inclusion microthermometry and sulfur isotope data of the Kyaukpahto deposit are consistent with an epithermal ore deposit model for the deposit. However, the presence of CO2-liquid bearing fluids and the detectable CH4 in the gaseous phase of the fluid inclusions conflict with a typical epithermal origin for the Kyaukpahto deposit. The host siltstone and mudstone sequence, trace element geochemistry, and the disseminated nature of sulfide and gold mineralisation are also common characteristics of a sedimentary rock-hosted gold deposit, and these features may indicate a Carlin-like affinity. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

Whilst the wider community is both a large consumer of mineral products and relies on mineral exports for much of the wealth which sustains it, the community generally has a poor perception of the minerals industry.   The role of professionals and The AusIMM in the "New Economy" minerals industry is reviewed. The new structure of The Institute is vital as we move forward in times of globalisation, rationalism, increasing litigation, criminalisation of risk and increased focus on corporate governance. This address looks forward to ways The AusIMM and professionals of the future are positioning themselves for these and other challenges.

Jan 1, 2001

Remote sensing, in general, is the recording of light and heat from a planet's surface within a certain range of the electromagnetic spectrum. For the Earth, systems capable of this recording are the MultiSpectral Scanner (MSS) and SLAR. The former is the recording system used in satellite and will be discussed in the next section. SLAR stands for Side Looking Airborne Radar. This device sends invisible radar waves which illuminate the Earth's surface. The reflected waves are subsequently recorded as images. The system can operate through darkness and dense cloud cover, and is particularly suited for the study of geological structures at both large and small scale (Wayland 1976). Remote sensing techniques are now widely being made use of in mineral exploration, especially for those last remote 'sanctuaries' where geological data are meagre or non-existent. For places like Borneo, West Irian, the Amazon Basin etc. remote sensing, in the form of both satellite imagery and SLAR, is of considerable help, in fact more often than not the only help, to delineate geological provinces, geotectonic domains and meaningful lineaments. In the case of New Zealand, well made geological maps at scale 1:250 000 by the Geological Survey are available to the public and these provide useful preliminary grounds for the selection of target areas. However, even in this case LANDSAT imagery can be of aid as will be shown later.

Jan 1, 1977

By R J. Goldfarb, A B. Christie, D I. Groves

Small orogenic gold deposits have the same deposit-scale geological and geochemical features as those that characterise giant orogenic gold systems (>16 Moz Au). Therefore, a broader-scale approach is needed to identify the critical controls on giant deposits and their disproportionate distribution throughout time and space. Ages of giant gold systems cluster around well-defined periods of lithospheric growth at continental margins, and it is orogen-scale processes during these Late Archaean, Early Proterozoic and Phanerozoic times that determine gold endowment of a province.   A critical factor for giant orogenic gold provinces appears to be asthenospheric upwelling at the time of gold mineralisation to most effectively transfer the thermal energy required to initiate and sustain high hydrothermal fluid flux. The extent of this fluid flux should be related to thickness of the lithosphere beneath a province at the time of gold mineralisation, such that giant gold deposits are much more likely to develop in orogens with oceanic or thinned continental lithosphere. A proxy for the latter is likely to be a short premineralisation crustal history such that thick subcontinental lithospheric mantle was not developed. Conversely, orogens with protracted premineralisation crustal histories are more likely to have a thick subcontinental lithospheric mantle, which is difficult to delaminate and, hence, such provinces will normally be poorly endowed. The nature of the lithosphere also influences the intrinsic gold concentrations of potential source rocks, with back-arc basalts, transitional basalts and basanites enriched in gold relative to other rock sequences. Thus, segments of orogens with thin lithosphere may be defined by conjunction of giant-scale fluid flux through gold-enriched sequences.   Although the nature of the lithosphere plays the crucial role in dictating which orogenic gold provinces will contain one or more giant deposits, the precise siting of those giants depends on the critical conjunction of a number of province-scale factors that control fluid conduits, traps, and seals in tectonically and lithospherically suitable terranes within accretionary orogens.

Jan 1, 2005

Igneous phosphate deposits located in tropical and subtropical regions of the world are characterised by low P2O5 grades, very diversified mineralogy and intensive lateral plus vertical variations in chemical composition, mineralogical assembly, rock texture, grain size, slimes content and morphology plus surface coating of apatite particles. Those variations characterise ore types with distinct behaviour in mineral processing plants. This work reviews the main challenges to concentrate those ores, addressing developed solutions. Apatite concentration requires long chain anionic collectors to conduct reverse flotation of barite (alkyl sulfate) before direct flotation of apatite (sarcosinate, sulfosuccinate and oleate) at basic medium. The long chain collectors decrease the surface tension of the flotation solution (?LV) and a particular value of 51 mN/m was found to promote the most selective separation between apatite/gangue at a particular plant. Effective control of the magnitude of ?LV in industrial plants has not been realistic because there is a lack of reliable instruments to carry out in-situ measurements. Regarding gangue depression by starch, a review is made on possible mechanisms that promote its remarkable ability to depress some minerals (Fe-oxides, ortho plus meta silicates and calcite) vis-a-vis others (quartz, apatite and layered silicates). Flotation recovery (R) of fine (20<R<30 per cent) and coarse (30<R<60 per cent) apatite particles is considerably lower than the recovery of the intermediate ones (R>70 per cent) and inadequate hydrodynamic conditions within flotation cells are the main reasons for that behavior. Once the best hydrodynamic conditions to float coarse particles are not the same to float the fine ones, flotation of coarse and fine particles is commonly conducted at separated circuits in industrial scale. Entrainment of very fine gangue particles is an important source of contamination of apatite concentrates, mainly when weathered ores are treated. In most cases, adjustments in flotation equipment (columns or mechanical cells) promote considerable improvement in the quality of final concentrates.

Sep 13, 2010

By R Dimitrakopoulos, R Goodfellow

One of the primary objectives when optimising a mining complex is to maximise its value for the primary stakeholders. In order to achieve this objective, it is necessary to holistically optimise all aspects of the mining complex, including decisions of when to extract materials from the available sources, how to blend or stockpile these materials and how to best use the available processing streams to satisfy customer demand. Existing methods for global, or holistic, optimisation ignore the compounded effects that risk has on the performance of a mining complex. Over the past decade, several stochastic optimisation approaches have been proposed to integrate various forms of uncertainty into the open pit mine design and production scheduling. These methods, however, are limited in their ability to simultaneously optimise the production schedules for the portfolio of mines, material destination policies, the use of the available processing streams and the various products that are produced at each location of the mining complex.This paper aims to discuss a new method for the global optimisation of open pit mining complexes with geological uncertainty. The proposed generalised methodology is capable of modelling and holistically optimising mining complexes, including aspects related to production scheduling, blending, stockpiling and non-linear interactions that often occur in practice, but are over-simplified in existing models. Two case studies are discussed to highlight the need for these complex, stochastic optimisers. First, a case study for a nickel laterite blending operation highlights the need to integrate geological uncertainty into the optimisation in order to ensure product quality constraints are respected. Second, a case study for a copper-gold mining complex highlights the added value when simultaneously optimising the production schedule and the stockpiling and treatment of extracted materials.CITATION:Goodfellow, R and Dimitrakopoulos, R, 2014. Stochastic optimisation of mineral value chains – developments and applications for the global optimisation of mining complexes with uncertainty, in Proceedings Orebody Modelling and Strategic Mine Planning Symposium 2014 , pp 13–22 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 24, 2014

By T Graham

Traditional iron ore wet beneficiation plants are large multilevel structures, often integrated into centralised processing plants. They are characterised by sizeable footprints, substantial water and power consumption, inflexible design and low scalability. Significant design changes that address these issues need to be made before relocatable modular plants become feasible. Firstly, large amounts of processing water are required in standard wet plants, so it is vital that water consumption is reduced to an absolute minimum. Secondly, the process of depositing tailings into tailings storage facilities (TSFs) is environmentally destructive, consumes significant power and requires lengthy approvals to be completed. Thirdly, modules need to be easily and quickly relocatable.The solution to reducing water usage and eliminating TSF requirements is accomplished by providing a tailings dewatering and dry-stacking capability into a separate module. This equipment needs to dewater tailings to a point (typically below 20 per cent moisture) where dry stacking becomes possible – design is mainly driven by material rheology and particle size distribution (PSD). In this respect, a flexible and scalable strategy is employed to dewatering modules, allowing a variety of components such as dewatering cyclone clusters, paste thickeners, fine mesh vibrating screens and filter presses to be used to achieve the necessary moisture level, enabling the final dry stacking to be accomplished by a simple telescopic stacking system. Plant relocatability also requires modules to comply with mass and dimensional constraints, as well as ‘plug and play’ ease-of-use features.For coarse particle upgrade, jigs provide a low-cost and effective solution, whereas fine and ultra-fine Fe units can be recovered using Wet High Intensity Magnetic Separation (WHIMS). Recently, sensor sorting – a dry process using X-ray fluorescence, X-ray transmission, laser or other sensors – has begun to make an impact in coarse particle separation, although capacities are still low. The overall objective of a plant is to provide an Fe upgrade of four to five per cent with a feed of up to 4 Mt/a and a recovery of approximately 50 per cent.CITATION:Graham, T, 2017. Relocatable modular beneficiation creates value from waste, in Proceedings Iron Ore 2017, pp 167–172 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

This paper examines the issues involved in the technical audit and valuation of exploration prospects. Certain methodologies are more appropriate to use depending upon whether the mineral property valuation is of an exploration area, a project under development, or an operating mine. Valuation approaches that are reviewed include the Multiple of Exploration Expenditure, Joint Venture Terms, Rules of Thumb, and particularly the Kilburn Rating Method. The DCF/NPV Financial Simulation Method, even modified by the use of Expected Values, is not considered appropriate for valuing exploration prospects. The choice of the most appropriate methodology and its successful application depends primarily upon the amount of reliable input data available and, more importantly, the experience and judgement of the valuer. It must be remembered that all valuations are time and circumstance specific and will be generally subject to revision as more data becomes available.

Jan 1, 1993