Search Documents

By L. C. S. Dharmasiri, S. M. Shin, A. Senaputra, J. S. Sohn, K. H. Park, J. Avraamides

Reducing agents can be applied to leach metal values from natural and secondary resources such as laterite ores and deep sea manganese nodules and recycled materials such as spent batteries / catalysts which contain high-valent metal oxides of manganese, cobalt and iron. Selective leaching of some metals can be achieved by selecting conditions to control the saturated solubility and dissolution rates of metals from oxides or mixed metal/oxide matrices. The leaching results are rationalized on the basis of chemical species, Eh-pH diagrams and heterogeneous kinetic models. The role of reducing agents such as hydrogen peroxide, sulfur dioxide and iron(II) sulphate, in acid, alkali and in the presence of complexing ligands such as ammonia for the improvement of the leaching of metal oxides and metals is discussed. Previous studies on acid leaching of metals from nickel laterites, manganese nodules and spent catalysts/batteries in the absence or presence of reducing agents show that the rate controlling step involves the diffusion of protons through a thickening product layer on the particle being leached. It is shown that the leaching of nickel and cobalt from manganese nodules and zinc-carbon batteries in ammoniacal sulphur dioxide solutions also obey shrinking core kinetics.

Jan 1, 2014

"2.1. General Considerations and Properties2.1.1. IntroductionOur present knowledge of the platinum-group elements (POE) is extensive, the reason being two-fold. The elements have many uses and, moreover, they exhibit extremely varied chemical behaviour, depending on their state of oxidation and chemical environment. The present chapter reviews a selected body of material which is of particular relevance to mineralogy and geochemistry.Comprehensive treatises on the POE include those by Mellor (1956-1957), Gmelin (1938-1957) and Pascal (1958). The inorganic chemistry, particularly coordination chemistry, has been dealt with in works by Griffith (1967), Hartley (1973) and Livingstone (1975), and the analytical chemistry by Walsh and Hausman (1963), Beamish (1966) and Beamish and Van Loon (1972, 1977). Darling (1973) and Savitsky (1978) have reviewed the metallurgical properties and applications of the metals. Goldberg and Helper (1968) have reviewed the thermochemistry and oxidation potentials of POE systems, and Wagman et at. (1969) have also provided selected values of their thermodynamic properties. The geochemistry of the POE has been reviewed by Yushko-Zakharova et at. (1967), Cousins (1973), Cabri (1974), and Naldrett and Duke (1980).Platinum was used briefly as a coinage metal in ImperialRussia. Otherwise, the principal early use for platinum and its alloys was in the fabrication of chemically resistant apparatus. Subsequently, a large part of platinum production was utilized for catalysts in the sulphuric acid and ammonia industries. Platinum has been replaced by vanadium pentoxide in the manufacture of sulphuric acid, but, in recent times, catalytic upgrading of petroleum and emission control systems for automobiles have opened further huge markets for the metal. All of the POE find uses either as reagents or catalysts in the synthesis of organic compounds, e.g., in the Wacker process, which uses palladium chloride to catalyze the production of acetaldehyde from ethylene. There are, of course, a large number of specialized uses for the elements, particularly in alloys, temperature measurement devices, cancer therapy and so on."

Jan 1, 1979

By P. Mundell, R. Torbin

"There are many physical and operational obstacles in pipelines that make the passage of inspection robots impossible including:•,Small radius bends•,Low operating pressure•,Plug valves•,Large changes in pipe size•,No permanent access to the pipeline.The inspection of unpiggable pipelines requires the marriage of a highly agile robotic platform with NDE sensor technology operating as an integrated system. Foster-Miller and GE/PII are developing a robot that is essentially a battery powered, train-like platform. Both front and rear tractors propel the train in either the downstream or upstream direction. Like a train, the platform includes additional ""cars"" to carry the required payloads. The cars are used for various purposes including the NDE sensor module(s), the power supply, and data acquisition/storage components. The robot is designed with a slender aspect ratio and the ability to change shape as required by the physical obstacle presenting itself. The MFL sensor module must also morph itself through the physical obstacles, and thus, will require some level of segmentation. The segmented MFL magnetizers and transformable sensor module represent a major advance in the science of sensor technology and pipeline inspection."

Jan 1, 2005

By C. F. Chung, F. P. Agterberg

"Prediction of a variable sulphur content in Cape Breton seams is important for planning the production of a highgrade metallurgical coal. Two extrapolation methods (Kriging and a version of Universal Kriging) to predict sulphur content in blocks of coal before mining are presented and applied to the New Lingan Mine reserves in the Harbour seam. The uncertainty of the predicted values is expressed by using standard deviations. Some statistical results for the Phalen seam, which occurs about 400 ft below the Harbour seam, are presented for comparison. The two mathematical models consist of two sets of equations which have been used in computer algorithms. Some limitations of the present approach and possibilities for further statistical work are indicated."

Jan 1, 1973

By J-P. Rossetti, A. Guerin, M. Jaboyedoff, L. Baillet, A. Mariscal, J. D'Amato, D. Hantz

"The processes leading to the fall of rock compartments from rock walls are poorly known as well as their velocity. It ensues that quantitative prediction of the failure time for a rock compartment which is presently stable, is not possible by a purely geomechanical approach. However a quantitative probabilistic prediction of rockfalls at the scale of a rock wall is possible if the spatial-temporal rockfall frequency can be determined or estimated (Hantz, 2011). For a better knowledge of failure processes and frequency, rockfalls have been detected in several rock walls, using annual terrestrial laser scanning, allowing comparison of the frequencies in different geological conditions. For one of these rock walls, the spatial detection have been completed by a precise dating of the events, using a quasi-continuous photographic survey (one photo every 10 mn), allowing the study of the influence of meteorological factors.The precise dating of rockfalls has been carried out for the Saint-Eynard cliff which towers above a residential area of the town of Grenoble (French Alps). The South-East facing cliff consists in bedded limestone gently dipping North-West and located at an elevation between 850 m and 1100 m. The surveyed zone is about 750 m large and 250 m high. Between 01/02/2013 and 26/11/2013, 65 rockfalls ranging between 0.01 m3 and 20 m3, have been detected by diachronic comparison of laser scanner data and dated by comparison of photographic images. The temperature at the elevation of the cliff has been calculated from the temperature measured (every 5 mn) at a meteorological station located at an elevation of 245 m and 2.5 km away from the cliff, using a temperature gradient of 0.003°C/m (D’Amato et al., 2014). The precipitation were measured 900 m away from the cliff at an elevation of 469 m. Different meteorological conditions have been defined: (a) “freeze” qualifies days with negative mean temperature (but with a thaw period, except for two days); (b) “thaw” qualifies days with positive mean temperature, but following a freeze day; (c) “rain” qualifies days with precipitation.Table 1 shows the rockfall temporal frequency for the different meteorological conditions. It appears that the frequency is about 6 times higher the freeze days, 2.5 higher the thaw days and 3 times higher the rain days than days without freeze, thaw or rain."

Jan 1, 2015

By Wignall. T. K., J. De Geoffroy

Statistical models are fitted to the observed distributions of eighteen characteristics of the population of commercial porphyry deposits of North and South America. The statistical base required for the formulation of the statistical models includes 58 commercial porphyry-copper-molybdenum deposits of the Cordilleran Belt from which geological, geometric and economic data were collected. Predictive and composite models are derived from the statistical study to assist explorat10n. planning, engineering studies and fmanc1al analyses as required for the development of new porphyry deposits in the Cordilleran Belt.

Jan 1, 1973

By J. E. Gill

"The name 'Canadian Shield' is used for a vast area; largely in northeastern; Canada; underlain by Precambrian rocks. The part in Canada has an area; of about 1; 790; 000 square miles. Extensions in Greenland; Labrador; Newfoundland; and the United States bring the total area to around 2; 800; 000; square miles. The boundaries of the Canadian part are shown in Fig. 1.; At its margins; the Precambrian rocks can be seen at many places to; extend beneath a cover of flat-lying Palxozoic or later sediments. Information; from borings in the Plains and natural exposures in mountain-built belts; show that similar rocks form a large part of the continental platform. The; Shield; therefore; is a large exposure of what may be regarded as the foundation; of the continent."

Jan 1, 1954

By D. E. Deegan, P. M. Keeley, N. A. Rowson, T. Stachowski

An investigation into the use of Tetronics International’s thermal plasma technology based pyrometallurgical smelting process for the recovery of both platinum and rhenium was conducted. 1000 kg of Pt-Re catalysts containing 0.36 wt% Pt and 0.21 wt% Re was blended with fluxing agents, reducing agents and an iron based collector metal precursor and then fed into a plasma furnace over five individual trials at Tetronics International’s facility in Swindon, UK. Both platinum and rhenium partitioned to an iron rich collector metal phase in the furnace, which formed in-situ and accumulated beneath a less dense slag phase, derived from the inorganic substrate of the catalyst, and was easily separable. The levels of Pt and Re concentration achieved in the iron collector made it suitable for subsequent final refining. Technical recovery efficiencies of =98% for both platinum and rhenium were achieved and the concentrations of the metals in the recovered metal bullion were 2.23 wt% Pt and 1.35 wt% Re.

Jan 1, 2015

By Stephen Hardcastle

Supplying ventilation in underground metal mines can be one of the most energy demanding services required to support production activities. Consequently, as energy, in the form of electricity or combustible fuels can be expensive and their unit cost is expected to increase, there is significant interest in reducing the overall demands of a mine?s ventilation system through such initiatives as controlling ventilation based upon demand and exploring other power alternatives to the current usage of the diesel engine in mobile mine vehicles. However, determining the benefit of any energy saving technology is complex and not universal applicable across the industry, consequently they have not been widely adopted. For these technologies to succeed they must be strategically applied based upon sound business cases. The intent of this paper is to provide information on some of the prospective control strategies and their potential impact on the power consumption related to supplying ventilation.

May 1, 2007

By G. B. Harris, C. W. White

A study to investigate the recovery of base metals, notably copper, nickel, cobalt, zinc and manganese from iron-free concentrated chloride solutions using ion exchange was undertaken. In such solutions, apart from nickel and, to a lesser extent manganese, these metals are present predominantly as complex anions, and therefore conventional separation techniques based on cationic resins are not applicable. The results demonstrated that zinc, copper and cobalt can all be separately recovered leaving nickel and manganese behind. Specifically, zinc is a major nuisance element in nickel and cobalt processing, and the testwork showed that it can be preferentially removed prior to copper and cobalt. Selective resins for both copper and cobalt were identified, and it was demonstrated that the strength of the chloride background matrix has a significant effect on the efficiency of separation. An additional major advantage in such systems is that stripping can mostly be effected with water. Finally, some observations are made on the hurdles that must be overcome when attempting to introduce and commercialise new technologies.

Jan 1, 2015

By W. E. MacDonald

This paper relates the story of 100 years of mining in the Harbour Seam at the Princess Colliery, Sydney Mines, Nova Scotia. Several interesting anecdotes are included along with the discussion of the evolution of coal mining methods in the area. Finally, some of the recently introduced equipment at Princess Colliery is described, and prospects for the future of the industry are outlined.

Jan 1, 1968

By Karl J. C. Harries

"4.1. INTRODUCTIONThis chapter, although divided into four parts, deals with only two principal topics. The first briefly describes and discusses some common types of property interests and considerations relating to them and the second deals with entering upon privately owned lands and obtaining the consent to do so.It should be noted that the terms “mining rights” and “mineral rights” are used interchangeably. As so used, they include the right to exploit the minerals and dispose of them for the benefit of the owner/lessee. This is relatively common in common law jurisdictions. In some jurisdictions, the two terms have distinct meanings, with “mining rights” referring to the right to work or exploit the minerals and “mineral rights” referring to the minerals themselves.Finally, it must be mentioned that the comments in the Introduction and §§ 4.2., 4.3. and 4.4. are based primarily upon Ontario law and Ontario’s mining and real property systems of registration. They have been included for illustrative purposes.4.2. LICENCES, CLAIMS, AND LEASESIn most jurisdictions, there are several basic types of interests that can be obtained from the state for mining purposes and that are of interest to the explorationist, as opposed to the operator. Different jurisdictions will have variations of these and possibly some extra ones that will address special purposes or local concerns. In virtually every jurisdiction, privately owned property rights are obtained through negotiation between owner and acquiror.Exploration or prospecting licence. This licence grants to the holder the right to prospect over a large tract of land and the exclusive right to acquire mining claims within that tract for the term of the licence. Such licences are usually negotiated documents requiring a minimum expenditure during the first year (often secured by a deposit or surety bond) and minimum annual expenditures thereafter to continue the licence in force up to its full term. The term will rarely exceed four years. The number of claims permitted to be staked will be limited in some way, possibly as to a maximum aggregate area or a maximum number of claims per annum. It is normal for the holder to have to drop part of the licensed area each year, so that the area shrinks annually, although exploration expenditure requirements will usually increase.These types of licences are usually used by governments to encourage exploration of otherwise unattractive or remote areas, such as the far northern parts of some of Canada’s provinces. They do not grant any real property interest in the area for which they are issued, and they will be subject to any claims or property rights that exist in the area. They are contracts with the state that grant certain exclusive rights in return for commitments to carry out work. They may or may not be specifically authorized by statute."

Jan 1, 2003

By Pingchao Ke, Zhihong Liu

"To overcome the problem that scoroditeis not stable in neutral and alkaline solutions, we proposed and investigated a synthesis method of scorodite coated in-situ with hydrated ferric oxide in the Fe(II)-As(V)-H2O system at the initial Fe(III)/As(V) molar ratios larger than 1.0.The synthesis was carried out at 90?,pH 1.5 under atmospheric pressure. During the synthesis, oxygen gas was conducted and bubbled into the system to oxidize Fe(II) ions into Fe(III)ions, and Na2CO3aqueous solution as neutralizing agent was added controllably into the system for keeping the pH constant at 1.5. In this study, three samples of scorodite were synthesized at the controlled initial Fe(II)/As(V) molar ratios of 1.0, 2.0 and 3.0, respectively. The characterizations of the samples by HRTEM, TEM/EDX, and chemical composition indicated that the particle surfaces of scorodite synthesized at the initial Fe(II)/As(V) molar ratio of 2.0 and 3.0 were coated in situ by a film of hydrated ferric oxide with the thickness of several nanometers, while the sample synthesized at the initial Fe(II)/As(V) molar ratio of 1.0 was uncoated scorodite. The TCLP and long-term leaching for the toxicity characteristic of the samples showed that scorodite coated in situ with hydrated ferric oxide was stable in a wide pH range from 3.0 to 10.0, with the arsenic concentrations in the leaching solutions less than 1.0mg/L. Nevertheless, uncoated scorodite was unstable under the conditions from weak acidity to alkalinity, with the arsenic concentrations in the leaching solutions larger than 5.0 mg/L.INTRODUCTIONArsenic pollution is a challenge for environment and health and has been an important issue for scientists (Hopkin, 1989).Arsenicis commonly associated with ores or concentrates of nonferrous metals, mainly as independent arsenic bearing minerals such as arsenopyrite (FeAsS), tennantite(Cu12As4S13), enargite (Cu3AsS4), cobaltite (CoAsS), and gersdorffite (NiAsS), realgar (As2S2), orpiment(As2S3), etc.(Matschullat, 2000; Mandal & Suzuki, 2002; Long & Peng, 2012). In the nonferrous metallurgical processes, arsenic is enriched mainly in such arsenic bearing materials as various flue dusts, residues, and anode slimes, which results in the accumulation of arsenic in the system owing to the circulation of those arsenic-bearing materials back to the system and the pollution to the environment (Harris, et al, 2003).In addition, the utilization of arsenic is limited and has been decreasing owing to its toxicity and carcinogenicity. Therefore, arsenic has to be removed from those arsenic-bearing materials and discarded safely (Dutrizac & Jambor, 1988; Monhemius & Swash, 1999; Drahota & Fillippi, 2009).In this case, how to immobilize arsenic has become a difficult problem which must be solved. Among the methods of immobilizing arsenic which have been proposed and investigated, immobilizing arsenic into a stable mineral to fix it, has been realized as a promising method and becomes a research focus(Dutrizac et al, 1987; Dutrizac & Jambor, 1988; Demopoulos et al, 1995; Fujita et al, 2008a; 2008b).Scorodite has been known as one of the best minerals for immobilizing arsenic, owing to its high stability under weak acidic condition, the arsenic content as high as 32wt%,and good crystallinity benefiting the separation of solid to liquid(Daivid et al, 1999; Zhu & Merkel, 2001). Scorodite can be synthesized from arsenic containing solutions under both hydrothermal and atmospheric conditions, and a lot of work has been done on the synthesis of scorodite and its leaching stability characterization (Filippou & Demopoulos, 1999; Gomez et al, 2011).Two plants for the immobilization of arsenic as scorodite have been putin to operation in Chile and Japan, respectively (Filippou & Demopoulos, 1999; Amir et al, 2016)."

Jan 1, 2017

By D. D. Campbell

The Hat Creek coal deposit s occur within folded and faulted Tertiary (Eocene) strata of the Coldwater Group, which comprises weakly lithified shales, siltstones and conglomerates underlying the floor and lower flanks of the valley of Upper Hat Cr eek . This upland valley,16 miles in length and 2-4 miles in width, is located within the eastern foothills of the Coast Mountains, 120 miles northeast of Vancouver, approximately midway between the towns of Lillooet and Ashcroft, in the Interior Dry Belt of British Columbia . Most of the valley floor is covered by till and glacial outwash deposits ranging up to 500 feet in depth. Became of this overburden cover , the majority of the data on the coal deposit have been obtained from diamond drilling done during 1974?76 by the property owner, B .C. Hydro and Power Authority. Because of the limitations imposed by the lack of out crop, the Tertiary geology at Upper Hat Creek is imperfectly known; however, it appears from correlation with other coal-bearing Tertiary remnants in the southern interior of the province that these remnants, including Upper Hat Creek, may represent preserved segments of the western shoreline of a Tertiary continental sea along which deltaic swamps developed and were sustained for unusually long stable periods, giving rise to the world's thickest known coal beds.

Jan 1, 1977

By J D. McDonald

This paper outlines the function of the Safety and Compensation Division of the Mining Association of British Columbia. After a general discussion of safety and the safety program now being followed in B.C., the author goes on to describe the wide-ranging aspects of compensation payments and company assessment rates. Special attention is also given to the problem of silicosis in mining operations. In appendices to the paper, the experience rating plan of the mining industry is compared to that recently adopted for the construction industry. Introduction The Mining Association of British Columbia consists of fifty-five member companies, including virtually all the producing mines as well as the larger exploration, contracting and development companies. On completion of an extensive study of safety and compensation in the mining industry, the Mining Association of British Columbia instituted a Safety and Compensation Division in 1954. The director of the Safety and Compensation Division reports to the Executive Committee of the Association. There are two main functions of this Division. First is the prevenion of accidents by encouraging

Jan 1, 1965

By J. M. Whiting

"North America has entered a period when greatly increased attention must be given to energy .supply and demand by government, industry and individuals. Such increasing concern about energy will be a long-term phenomenon, accompanied by continuing examination of future resource development and utilization. Those engaged in or associated with mining, a major energy consumer, are likely to experience a variety of problems which are associated with the end of an era of low-cost, virtually unlimited energy supply. Their efforts, furthermore, may be subjected to escalating public and government scrutiny, involvement and control. However, ever-growing recognition of the real and urgent necessity to systematically develop new energy supplies within Canada and the United States will provide unusual challenges and opportunities for those companies and individuals with mining expertise. The vast deposits of coal, tar sands and oil shale provide a relative certainty of supply which only stands to gain in attractive ness with time. In order to benefit from this aspect of certain supply, nevertheless, synthetic fuels will have to be produced at a tolerable cost. This will always require excellent process design and engineering. As synfuels development expands to any significant production level, however, and Jess than ideal reserves are scheduled, the usual geologic-productivity complexities encountered in making ore out of low-value rock will tend to become of prime concern. It is for this reason that the services of experienced mining personnel will be in growing demand in energy production."

Jan 1, 1973

By M. Nagamori, A. J. Plumpton

"Commercial HCl-leaching of magnesite and serpentine yields highly concentrated aqueous solutions containing 25 mass % to 33 mass % MgCl2. The partial molar enthalpies and heat capacities, the ionic activities of Mg2+ and Cl–, and the Raoultian activity of H2O have been assessed for the concentrated MgCl2-H2O solutions at temperatures of 348 to 373 K. These thermodynamic data are used to calculate the pH of aqueous MgCl2 solutions saturated with a Mg-bearing mineral such as magnesite, serpentine, brucite, forsterite, enstatite or talc. On the basis of these thermodynamic data, technico-economic aspects are discussed as to neutralization with pulverized MgCO3, water evaporation from the MgCl2 solutions, and ore composition including such minor constituents as CaCO3, FeCO3 and Fe3O4. IntroductionA major magnesium electrolytic reduction plant operates in Quebec, where another will begin its production in the year 2000. One uses imported magnesite ore as raw material, while the other will utilize local asbestos tailings (serpentine). Both processes produce a concentrated salt solution of 25 mass % to 33 mass % MgCl2 by leaching the ore with concentrated hydrochloric acid. Thus, the two processes differ mainly in the HCl-leach and related operations. After the HCl-leach of the ore, the serpentine process yields about 25 times more wet cake to filter and wash than the magnesite counterpart. A comparative cost-engineering study with respect to slurry filtration and cake washing has been published elsewhere (Blackburn and Nagamori, 1994). By contrast, the present study considers the thermodynamics and technicoeconomics of the HCl-leach itself for both ores."

Jan 1, 1999

By L. V. Chugaev, Y. M. Shneerson, P. V. Zaytsev, I. V. Fomenko, M. A. Pleshkov

"Pressure oxidation (POX) is one of the most common and reliable methods of processing gold-bearing sulfide concentrates. However, when processing concentrates that contain natural carbonaceous matter, substantial gold losses occur due to autoclave preg-robbing. The latter involves formation of gold chloride complexes under typical POX conditions (high temperatures, high acidity and high ORP) and subsequent sorption of these complexes by carbonaceous matter. Naturally, chloride ion plays a significant role in the process of autoclave preg-robbing; its concentration in POX solution has a well-marked effect on subsequent gold recovery during cyanidation of POX residue. The previous research done by SRC Hydrometallurgy showed that autoclave preg-robbing of gold could be significantly inhibited by the addition of mercury(II) compounds to POX slurry. The positive effect of mercury(II) was well pronounced both at high (>20 mg/L) and low (<5 mg/L) Cl concentrations in POX solution. The successful bench-scale laboratory testing was followed by pilot plant trials at Ore Test Facility in Blagoveshchensk, Russia. The present paper provides the results of these trials. The bench-scale testing results were verified; the optimum oxidizing parameters and reagent dosage were specified. The behavior of mercury (II) at POX pilot plant was found to be in good consistency with industrial practice described in the literature.INTRODUCTION Pressure oxidation (POX) is one of the most common, reliable, and commercially proven methods of processing gold-bearing sulfide ores and concentrates. However, when processing double refractory materials that contain natural carbonaceous matter, POX technology advantages are compromised by autoclave preg-robbing of gold. The latter occurs when natural organic carbon and soluble halides are both present in autoclave feed. Strongly oxidizing conditions of POX (high temperature, oxidation-reduction potential or ORP, and acidity) favor formation of gold-halide (mostly, gold-chloride) complexes, which tend to bond with carbonaceous matter. The exact nature and mechanism of this bonding is unknown, but as the result of this, cyanide is unable to leach gold from POX residue and the precious metal is lost to the tails (Axenov et al., 2014; Dimov, Chryssoulis, & Sodhi, 2003; Fomenko, Zaytsev, Pleshkov, Chugaev, & Shneerson, 2013)."

Jan 1, 2017

By B. Erdem, N. Çelebi

An important problem associated with tandem dragline systems is that of matching the productive capability of individual draglines in the combination. In this paper, a dependence mechanism among draglines in a tandem system is described, and possible consequential problems in a poorly-matched system are defined. The rate of linear advance and the cost of stripping are determined as two major indications for an efficient operation. The proposed decision criteria and the underlying mechanism to select a synchronous couple are introduced and used in simulating tandem dragline systems. The developed model is tested on a hypothetical strip mine where pullback stripping is applied with a tandem dragline system.

Jan 1, 1999

By L. Kilburn

"A survey of 281 mineral exploration agreements examines the ratios among three ways that may be used to purchase an interest in a mineral property, viz: pay cash, pay shares and make future expenditures on the property.The dollar value of the future expenditures exceeds that of cash or shares by about nine times in most of the 110 agreements that contain cash-expenditure or share-expenditure components. Results suggest that cash and shares are treated about the same in terms of value.Buyers and sellers have opposing priorities for the way that they prefer to purchase a mineral property. These opposing priorities should give rise to a perceived 50:50 balance between cash/share payment and future expenditures to satisfy the idealized situation described by most definitions of fair market value (FMV). This balance between cash/share payments and future expenditures appears to be rationalized in negotiations to a FMV when expenditures are nine times greater than cash and/or payments.On this basis, it is proposed that the FMV of a property may be determined by aggregating the dollar amount of the cash/share payments plus one-ninth the dollar value of future expenditures, as set forth in the respective purchase agreement, and proportionately applying such aggregate to full property value."

Jan 1, 2005