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By G T. Hefter, P Singh

The effect of using SO2 as an anodic depolariser in the electrowinning of copper from aqueous acid sulphate solutions has been studied using cells without/with a ceramic diaphragm. In all cases SO2-saturation of the electrolyte/anolyte decreased the anode potential by 68 to 75 per cent largely due to a change in the anode reaction from the oxidation of water to the oxidation of SO2 . However, poor quality deposits and low current efficiencies are encountered if SO2 is allowed free-access to the copper being deposited at the cathode. This situation is easily avoided by using a diaphragm to restrict SO2 to the anode compartment and for these conditions the resultant copper deposits are of a similar (high) quality to those obtained in the absence of SO2.

Jan 1, 1999

Longhole open stoping was introduced in the zinc-rich 'B' lode at New Broken Hill Consolidated Limited (NBHC) during 1968. Since then one longitud- inal and a series of transverse longhole open stopes have been developed. The longholes are drilled using Gardner Denver airtrac drilling jumbos and the broken ore is loaded from drawpoints and transported to chutes using Wagner ST5 scoop- trams. The holes were drilled from sill stopes 160 ft apart. The width of an emptied transverse longhole stope was successfully widened by blasting rings of blastholes drilled parallel to the stope wall. Proposed stope and pillar designs for a series of transverse longhole open stopes were assessed using a method of finite element analysis, applied to a longitudinal section through the area. Blastholes have been surveyed for dip and bearing using an Eastman borehole survey camera. The data produced has provided the basis of a study of blast- hole deviation. Deviation of boreholes is considered to be the major cause of the formation of benches in longhole stopes.

Jan 1, 1971

By J Mukhopadhyay, J Gutzmer

Most world-class high-grade (60 - 67 wt per cent Fe) hematite iron ore deposits are the product of enrichment of Precambrian iron-formations but processes responsible for enrichment are still unclear. Different models, ranging from syngenetic and diagenetic (King, 1989), deep-seated hydrothermal (Powell et al, 1999; Barley et al, 1999; Taylor et al, 2001; Gutzmer et al, 2002) and ancient supergene (Morris, 1980; 1985; Van Schalkwyk and Beukes, 1986) to modern supergene (MacLeod, 1966) have been suggested. The high-grade hematite deposits stand in contrast to martiteûgoethite ores which are generally accepted to be the result of supergene enrichment of iron-formation because they are found along Cretaceous to Tertiary lateritic weathering profiles (Morris, 1980; Harmsworth et al, 1990). Uncertainties about the origin of the high-grade hematite ores appear largely due to the monomineralic composition of the ores. They are almost exclusively composed of hematite (as microcrystalline hematite and martite), a mineral with wide stability field and very simple chemical composition that reveals little about its origin. Second, many of the deposits have been overprinted by later deformation and chemical weathering obscuring primary ore characteristics and zonation (Taylor et al, 2001). Third, surprisingly few detailed geological studies have been undertaken on the deposits with the aim of unraveling ore genesis. Most studies focus on the present-day structure of orebodies and their general physical-chemical composition for mining and beneficiation purposes. A more thorough understanding of the origin of high-grade hematite iron ore deposits may be gained by combining available mining-orientated data with systematic petrographic-geochemical analyses of different ore generations and hematite phases. This paper presents a first summary of results of an ongoing study, started some two years ago, of high-grade iron ore deposits in South Africa, India and Brazil, including a comparison with the rather well studied deposits of the Hamersley Province in Australia.

Jan 1, 2002

By Dodd SF

Valuation of mining companies and their underlying assets prepared by brokers' analysts are, by necessity, approximations. The reliability of the valuations is entirely proportional to the quality of available data, the reliability of forecasts and the nature of underlying commodity price assumptions. The latter is perhaps the greatest single cause of gross variations in company and asset earnings estimates and- valuations. Assumptions are often necessary regarding commodity price achievement based on commodity hedge positions. Public disclosure from listed companies provides a sound base from which to project earnings, cashflows and balance sheets. The uncommon disclosure of projected production and cost schedules often reduces the reliability of future estimates. The application of reserve and resource estimates is contentious with practitioners applying differing weightings to importance of resources in estimating mine lives (and therefore cashflow streams). Valuation methods applied in equity markets usually focus on relative value and the identification of pricing anomalies. The commonest ""rules of thumb"" applied in the valuation of mining companies (and therefore their underlying assets) is with the use of year specific price/earnings (P/E) and price/cashflow (P/CF) ratios, with low multiples suggesting undervalued assets, high multiples overvalued situations (but these rules can often be clouded by market expectations of underlying commodity price movements). Another simply applied valuation tool is to examine the examine the value placed on reserves and resources by the market. Inexpensive gold in the ground (expressed as $ of market capitalisation per ounce of reserves or resources) might indicate a buying opportunity, but the market does discount the value of gold in the ground prior to mine development and where development risk is perceived.

Jan 1, 1994

By J P. Richards, M D. Johnston

The Porgera gold mine, located in the highlands of Papua New Guinea, produced 7.7 Moz of gold between 1990 and 1998. Reserves are estimated to be 12 Moz of Au. The deposit is associated with 6 Ma-old mafic alkalic intrusions emplaced at shallow levels into unconsolidated Jurassic and Cretaceous sediments, where they caused the formation of peperites. The mineralisation consists of an earlier base-metal-sulphide-rich stage with sericite-carbonate alteration (stage I), and a later phase represented by quartz-roscoelite veins (stage II). New styles of mineralisation and alteration have been recognised at depth in association with stage I. They consist of the assemblages magnetite-chalcopyrite-pyrrhotite and biotite-actinolite-anhydrite respectively. In addition, the recent recognition of adularia in some stage II veins (with roscoelite) confirms the similarity of this style of mineralisation with other adularia-sericite or low-sulphidation epithermal deposits.

Jan 1, 1999

By H Sichani-Teimouri, B N. Noller, J C. Ng, R N. Alsaadi, P L. Breuer, S Shini

Cyanide has been used for over a century worldwide for gold extraction. However, the presence of several metals and metalloids in ore requires greater amount of cyanide for an efficient gold recovery due to their solubilisation in conjunction with gold. The extraction residues are discharged into tailing storage facilities (TSFs) and may cause bird mortality if there is exposure to cyanide-bearing wastewater exceeding the toxic threshold. The toxicity arises from free cyanide released from weak acid dissociable (WAD) cyanide complexes. The International Cyanide Management Code (ICMC) has deemed 50 mg/L of WAD cyanide released into TSFs to be safe for wildlife protection. However, this concentration is based on observations of an apparent lack of toxicity rather than a toxicological approach. The National Industrial Chemicals Notification and Assessment Scheme (NICNAS) identified in 2010 that there is a lack of toxicity data to properly assess the environmental significance of cyanide levels at gold mines. Lack of knowledge for the toxicity of free cyanide and metal cyanide complexes to wildlife led to consider alternative direct assessment techniques for designating safe levels. Whilst toxicity may be assessed by using young chickens with animal ethics approval, the traditional bioassay approach to assess cyanide toxicity is impractical for gold mine TSFs. Bioassays using algal species such as Euglena gracilis, a unicellular alga, are widely used for ecotoxicological studies. A unique feature is that the Euglena gracilis Z cell has plant-like while SMZ cell has animal-like characteristics. The aims of this project are to evaluate the suitability of Euglena gracilis Z and SMZ strains to assess the toxicity of free cyanide and both strong (cobalt) and weak (zinc, copper and nickel) acid dissociable metal-cyanide complexes that may be present in TSFs.CITATION:Noller, B N, Ng, J C, Shini, S, Breuer, P L, Sichani-Teimouri, H and Alsaadi, R N, 2014. Development of a toxicity approach to evaluate free cyanide and metal cyanide complexes in waters associated with gold and other mining, in Proceedings Life-of-Mine 2014 , pp 573–590 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By J Shillabeer

Paste backfill has been adopted by many underground mines in North America and a growing number elsewhere. Paste offers a number of advantages. This paper suggests wider applications of paste technology to surface tailings disposal and water management. Advantages include improved overall stability, potentially easier permitting, smaller water inventory and earlier reclamation. It may be feasible to use the same plant to prepare backfill and to dispose of surplus tailings. Example cost models are given to illustrate potential applications.

Jan 1, 1998

By K Smith

This paper presents an assessment of the Robertson (2010a) method within the CPTu inversion parameter framework of Been et al. (1987), using CPTu calibration chamber data presented by Jefferies and Been (2015) and in other literature to assess the validity of the method, with particular focus on applicability of the method to TSFs (i.e. its applicability to loose silts and silty sands). The assessment demonstrates that although the method estimates values of k consistent with calibration chamber data, the method estimates values of m that are generally 1.5 to 2 times greater than calibration chamber data. As a result of this, the method generally overestimates Ψ for values of Ψ less than 0, and underestimates Ψ for values of Ψ greater than 0. This may result in both overly conservative assessment of materials as potentially liquefiable and unconservative predictions of material behaviour for loose materials.

Jul 1, 2021

By S Thacker, M Noakes

The Newmont Tanami Operations (NTO), formerly the Granites Gold Mine, commenced operation in the mid-1980s with tailings deposition evolving over the past three decades as production has increased and the operation has expanded. Paddock-style tailings storage facilities (TSFs) and in-pit tailings deposition have fulfilled the tailings requirements for NTO over its lifetime with the technical specifications of these facilities improving over time in line with the positive development of standards, guidelines and best practice.This paper reviews the options for tailings storage facilities at NTO and the many considerations that have been analysed and deliberated upon before settling on specific TSF types and designs. It also explains the operating philosophies of the tailings deposition and how the facilities have always strongly maintained the optimum capture and retrieval of water. The current TSF design and criteria is presented, along with the introduction of dry tails harvesting for use in paste production as a backfill product for the underground mine. Tailings deposition and recovery remains a critical function of the Granites process to ensure long-term operation and gold production.CITATION:Thacker, S and Noakes, M, 2015. Newmont Tanami Operations – tailings storage facilities, in Proceedings Tailings and Mine Waste Management for the 21st Century , pp 305–314 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By D M. Verster, P L. Gillot, A Kone

Randgold ResourcesÆ MorilaÆs gold leach plant is subjected to uncommon æoxygen stressesÆ. Feed ores exhibit very high oxygen demands, primarily caused by iron sulfides. In addition, ore oxygen demand varies significantly over time, as well as between different feed ore sources. The inability of the Morila gold leach plantÆs oxygenation system to cope with these high and fluctuating oxygen stresses manifested itself in variable gold residue grades, and cyanide consumption rates.Management launched a Morila oxygen system review project during September 2009, with the objective of auditing the performance of the then current oxygenation system, against required performance parameters as calculated from oxygen demands of the various feed ore types and targeted dissolved oxygen levels in the leach train.This paper describes the systematic changes made since 2009 to the Morila oxygen system in four main areas: O2-supply plant, O2-volumes, O2-controls and oxygenation equipment. Data are provided on corresponding improvements in leach plant performance. Theoretical, as well as practical aspects of gold leach oxygenation systems are covered.CITATION:Verster, D M, Gillot, P L and Kone, A, 2013. Oxygenation system upgrades and leach plant performance improvements at Morila Gold Mine - 2009 to 2012, in Proceedings World Gold 2013 , pp 215-224 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By B Clements, R Dunne, J Dioses, S Hart

In April 2003 plant upgrades in the æLow GradeÆ Cadia Hill circuit were undertaken in order to improve concentrate quality and metal recoveries from the flotation circuit. The major changes involved: circuit reconfiguration to allow all concentrates to be reground to less than 38 ¦m prior to final cleaning; increasing ball charge in the regrind mill to fully utilise all of the installed power; desliming of the cleaner scavenger concentrate to improve the circuit water balance; and the inclusion of a gravity concentrator in the regrind circuit to recover more free gold to bullion.Once the flotation circuit had stabilised under the new operating conditions concentrate launder modifications and increased froth crowding on the scavenger flotation cells permitted the introduction of stronger collectors without compromising concentrate quality or circuit stability.Twelve months on, the copper concentrate grade has increased by two per cent and metal recoveries increased by three per cent and seven per cent for copper and gold respectively. The project capital outlay of approximately $2.0 million has been repaid in less than three months. This paper will review the project from the design, construction and commissioning perspective as well as the subsequent debottlenecking exercise that was required to eventually yield the full benefits of this upgrade.

Jan 1, 2005

By M S. Reston

The Tonkolili banded iron formations (BIF), Sierra Leone, host extensive iron ore deposits which are of economic signifi cance to the seaborne iron ore trade. The deposits are dominated by a strategic JORC compliant mineral resource of 11.6 Bt grading 30.1 per cent Fe comprised of primary magnetite mineralisation in the form of a fresh metamorphosed BIF featuring a uniform mineral assemblage of quartz-magnetite ± ferro-silicate minerals. Pilot plant metallurgical test work has demonstrated that the production of a magnetite concentrate is achievable using the established beneficiation techniques of magnetic separation and flotation. The concentrates arehigh-grade, and suitable for blast furnace or direct reduced iron pellet feed. The major challenge facing the development of such magnetite deposits at industry competitive production rates is the significant capital investment required for process plant and associated infrastructure.Two well-developed weathering zones exist within the deposits, and are associated with the progressive development of a tropical weathering profile overprinting the primary BIF. These zones feature a near surface hard indurated duricrust up to 60 m thick, and a soft progressively developed saprolite between duricrust and fresh BIF. These zones have been found to be amenable to producing iron ore products including DSO lump and sinter fines from the duricrust, and concentrate from the saprolite. Mineral resources sufficient to support commercial production of such iron ore products were defined by an intensive exploration program in 2010.African Minerals Limited has developed a three phase production strategy to progressively self fund the development of the Tonkolili strategic magnetite project by:• commencing a Phase I 12 Mt/a DSO operation in Quarter 4 2011,• increasing production in Phase II to 35 Mt/a with the commissioning of a saprolite beneficitation plant and associated infrastructure upgrades, and• developing a 45 Mt/a Phase III operation producing high-grade magnetite concentrate.The comparatively low capital and operating costs of a duricrust DSO lump and sinter fines operation coupled with its proximity to ground surface make it highly attractive for the generation of early cash flow for the Tonkolili project. Revenue from this early production may be used to selffund the subsequent development of phases requiring progressively more significant beneficiation plant and infrastructure.

Jul 11, 2011

By J Cortinez, P Vallejos, J Yianatos, M Rodriguez

Nowadays, one of the main problems in current flotation plants and new projects is the significant decrease in feed grades and changes in the mineral composition, which has an important effect on the mineral liberation and associations. Additionally, flotation plants usually operate with feed throughput higher than the original design, which has a significant impact on the feed particle size. All these conditions affect metallurgical performance, and must be evaluated and addressed, by improving control strategies for banks optimisation. For this purpose, the flotation of valuable minerals along the circuits requires better understanding, considering the compromise between performance and selectivity in flotation circuits. This paper presents a characterisation of the different minerals recovered along industrial flotation circuits. Plant sampling campaigns, performed in a copper industrial concentrator in Chile, provided the data for the study. Two rougher flotation banks consisting of cells of 130 m3 and 300 m3 were analysed. All the samples from the industrial surveys were analysed by screening and mineralogy, and the mineral recovery along the circuits was evaluated per particle size class, liberation class, type of associations, and others. Additionally, operating data on froth depth profiles complemented the evaluation of the mineral composition of concentrate streams, along the circuit. The results allowed for identifying and quantifying the main factors that affect the copper recovery and concentrate grade along the flotation banks. It was found that minerals with liberation lower than 50 per cent have a significant impact on the recovery. On the other hand, the decrease in the Cu grade in concentrates along the flotation circuits is mainly due to the relative increase of middling minerals (less liberated), non-valuable floatable minerals, such as free pyrite, and gangue entrainment. The characterisation of the gangue entrainment flow rate along the flotation banks showed a strong relationship with froth depth, which becomes more critical towards the last cells of the banks.

Aug 24, 2022

Avoca Resources LimitedÆs Higginsville Gold Project has a resource base of over 1 300 000 oz of gold. The Trident underground mine, which forms the basis of the project development, has a resource base of 927 000 oz of gold. Avoca is building the Higginsville Gold Project based on a minimum ten year vision, producing over 150 000 oz per annum. The project development has taken less than three years from the Trident discovery hole in October 2004 to the first ore production in June 2007. This paper discusses the background work associated with the development of the Trident underground mine in a difficult period for new project development in Western Australia. The resources boom, led by the iron ore industry in the Western Australian Pilbara region, is creating cost pressures and, combined with a lack of people and equipment, is placing cost and timing stress on a small developing project. Avoca Resources has developed a project execution management strategy aimed at mitigating cost blow outs and schedule delays.

Jan 1, 2008

By J J. Robinson, B N. Noller, D M. Franks, G McIlveen, D R. Mulligan, A T. Soro

Fiji is a developing nation that relies on economic opportunities and recently experienced increased interest in mining and mineral exploration that could potentially benefit the country. In order to understand the lack of, or failure of, past rehabilitation activity, this study applied risk-based approaches to identify the significance of activities or actions applicable to rehabilitation of post-mined land in Fiji. This involved the use of qualitative, semi-quantitative and quantitative risk methodologies, which allow assessment and evaluation of mechanisms of mining administration and practices, as well as rehabilitation methods and approaches that have been applied successfully to post-mined land in other countries with similar environmental and climatic conditions and social and regulatory environments to Fiji. The semi-quantitative risk-based technique followed an earlier approach applied for mine closure by Laurence (2006) and provided a systematic way to assess and evaluate rehabilitation issues that were identified on-site by assessors, who were able to estimate through expert judgement the likelihood and consequences based on conditions, situations observed and circumstances on-site. It demonstrated that experienced professionals could reproducibly score likelihood and consequence of selected items relevant to mine site rehabilitation, despite the wide-ranging issues identified during post mined land rehabilitation. The quantitative risk-based approach was adopted as a method to determine environmental bonds for mining projects using the assessment of consequences and likelihood results from the semi-quantitative approach, then incorporating unit cost of materials or activities for local conditions required to fully rehabilitate each issue at net present value. Application to both an abandoned mine site and a newly opened mine site in Fiji showed that this approach could provide a risk-based estimate for rehabilitation cost and demonstrated potential applicable in the Fijian context.CITATION:Soro, A T, Mulligan, D R, McIlveen, G, Franks, D M, Robinson, J J and Noller, B N, ?2014. Risk-based Rehabilitation Strategies for Post-mined Land in Fiji, in Proceedings Life-of-Mine 2014 , pp 165–180 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By A Gerson, S Miller, R Smart, J Thomas

Environmental Geochemistry International (EGi) and the Ian Wark Research Institute (IWRI) collaborated in a three-year Australian Minerals Industry Research Association (AMIRA) research project (Project Number P387A) focussed on the prediction and kinetic control of acid mine drainage. As part of this project, single addition, and sequential net acid generation (NAG) testing was carried out on sulfide mineral samples. The test samples comprised a range of synthetic waste materials prepared using a quartz bulk and controlled quantities of the commonly occurring sulfide minerals; pyrite (FeS2), pyrrhotite (Fe7S8), arsenopyrite (AsFeS), chalcopyrite (CuFeS2), chalcocite (Cu2S), covellite (CuS), bornite (Cu5FeS4), galena (PbS) and sphalerite (ZnS). NAG test results clearly show that there are significant differences between the acid forming potential of sulfide minerals. The NAG test results for each mineral were compared with theoretical acidity values (NAPP*). The NAPP* calculation was based on stoichiometric oxidation reactions assumed for each of the sulfide minerals. Sequential NAG values for pyrite corresponds closely to predicted NAPP* values, confirming the assumption that pyrite oxidation occurs according to the stoichiometry assumed. For the pyrite sample with 5 wt per cent S, two NAG stages were sufficient for all of the sulfur to be released to solution. Since sulfides in waste materials will generally be dominated by pyrite, results also confirm the validity of including NAG testing for ARD evaluation of most waste rock. NAG testing confirms that of the sulfide minerals examined, only pyrite, pyrrhotite, arsenopyrite and chalcopyrite are acid producing, ie able to produce leachate with a pH less than 4.5. In the case of sphalerite, galena, bornite, chalcocite and covellite the pH of the final NAG solution was greater than 4.5. The significant differences between the acid forming potential of different sulfide minerals could lead to overestimation of acid producing potentials based on NAPP values calculated from total per cent S alone, ie assuming all S is present as pyrite. The oxidation of galena during the NAG test resulted in the consumption of acid. The examination of the galena surface by X-ray photoelectron spectroscopy (XPS) after oxidation in peroxide solution indicated the presence of polysulfide. The reaction of sulfide to polysulfide is acid consuming, thus explaining the net acid consuming behaviour of galena in the NAG test. This reaction pathway may provide a possible explanation for the lower than expected acid production observed for some of the other sulfide minerals examined.

Jan 1, 2003

Blasting, particularly bench blasting, uses finite length cylinders of explosive close to two free faces. The rock to be blasted is usually intersected by a complex 3-D system of joints. To fully simulate a blast, a 3-D dynamic model is required. It is shown that the static stress distribution around a long cylinder can be reproduced by superposing the static stress distribution of a suitable chain of spheres. Thus, the dynamic results for individual spheres given by Favreau (1969) can now be substituted for the static results to give a dynamic model of the stress distribution around a long cylinder. Comparison of measured and computed waveforms show that the measured waveforms are much more attenuated and dispersed than expected. The consequences for explosive evaluation and design are Discussed.

Jan 1, 1990

Heatings, fires and explosions in New South Wales (NSW) and Queensland coal mines since 1972, are reviewed. Geological and mine settings are outlined. Where available, gas analysis and critical decisions are discussed. This paper updates work by NSW Department of Mineral Resources (1995) and the Queensland Department of Mines and Energy in a report on fires and explosion in Queensland coal mines (Richardson and Ham, 1996). Incident data has important applications in terms of evidence-based risk assessment and identifying key issues to be integrated into competency based training programs. Predictive indicators are reviewed in terms of coal parameters in seams where the incidents occurred.

Jan 1, 2005

By C Zhang, I Canbulat, G Fan, D Zhang, C Wang

A clear understanding of the intensity of coal and rock burst is the basis for future research on burst mechanism and control. There has been a wide variety in the description of coal and rock burst damage at different countries using multi-methods, which makes the common understanding even more challenging. Therefore, this paper presents a broad review on the quantifications of intensity of coal and rock burst and seismic risk around the world, considering critical factors including seismic energy, magnitude, peak particle velocity and ejection velocity. It is found that the seismic energy of coal and rock burst can widely range from 0.002 MJ to 60000 MJ, with equivalent Richter magnitude from -1 to 4. The daily seismic energies can be used for seismic risk potential assessment, with energy levels from 0.1 KJ to 10 MJ, which is much lower than the burst sources. The magnitude of the seismic events can be also estimated based on the weight of damaged coal mass and human senses of vibration and sound. For the seismic intensity represented by peak particle velocity (ppv), it keeps constant within fault radius and attenuates with a speed of 1/r4 and 1/r in near and far field respectively, thus it is possible for a small seismic event to induce considerable ppv causing severe damage if the epicentral distance is small enough. There has not been a strong correlation between the ejection velocity and ppv, as seismic energy is only one of the energy sources that contribute to the kinetic energy of burst damage. CITATION:Wang, C, Zhang, C, Canbulat, I, Zhang, D and Fan, G, 2018. Intensity quantification of coal and rock burst risk – a review, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 223–233 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

A broker relies heavily on mineral valuations and independent experts' reports to provide the fundamental information, both technical and commercial, which provides the basis of estimating the sharemarket value of securities and underlying assets. It is important to appreciate the significant variance that can occur between the market value and other types of valuation at a particular point in time. In general, most experts' reports and valuations seek to provide estimates of technical/fundamental or ""fair"" value which correspond to the Corporations Law and accounting standards requirements. They do not usually attempt to estimate (stock) market values and it is usually and quite correctly the broker's task to estimate market values on the basis of a technical appraisal and consideration of all other commercial, market and financial influences. Therefore ideally, an independent experts' report or information memorandum will include material relating to commercial and management aspects of a company as well as detailed technical reviews and fundamental valuations. Wherever sensible cash flow projections can be made, cash flow-derived valuations, usually based on discounted cash flow (DCF) calculations, remain the preferred valuation methodology. Brokers in general would not argue with this preference. However, there is a paucity of examples of valuations where alternative methods are applied as a check on the reasonableness of a DCF-based estimate.

Jan 1, 1994