13
May 2016

NI43101 and Other Reporting Standards: Mineral Resource/Reserve Classification and Reporting

Status: Advanced registration is now closed. Please email Emma Talbott at [email protected] for waiting list inquiries. Thank you!
Date: Friday, May 13, 2016
Time: 8:30 AM-9:00 AM: Registration and Continental Breakfast
9:00 AM-5:00 PM: Mineral Resource/Reserve Classification and Reporting
Location: Holiday Inn Vancouver-Centre 711 West Broadway Vancouver, BC V5Z1J5
Presenter: Pat Stephenson, P.Geo (BC, Sask.), BSc (Hons), MCIM, FAusIMM (CP), FAIG
Director and Principal Geologist, AMC Mining Consultants (Canada) Ltd.

Mort Shannon, P.Geo (BC, ON), BA (Geol.), MA (Geol.), MCIM
Geology Manager and Principal Geologist, AMC Mining Consultants (Canada) Ltd.
Credit: 7 Formal Professional Development Hours (PDH)
Cost: Early Bird Price Engineers and Geoscientists BC Member: $392.00 + GST = $411.60 until Apr 29, 2016

Engineers and Geoscientists BC Member and EIT/GIT Regular Price: $392.00 + GST = $411.60

Non-Member Price: $460.00 + GST = $483.00

Student Member Price: $230.00 + GST = $241.50

Member and EIT/GIT Late Price: $460.00 + GST = $483.00
Please Note: *A minimum number of registrations are needed by April 29, 2016 to proceed with this seminar. Please register early to avoid cancellation.
**All prices are subject to applicable taxes.
Contact: Emma Talbott | Professional Development Coordinator
Direct: 604.412.4880
Toll Free: 1.888.430.8035 ext.4880
Fax: 604.639.8180
Email: [email protected]
All mining projects depend first and foremost on their Mineral Resources and Mineral Reserves. These in turn have three supporting processes - Estimation, Classification and Reporting. This seminar concentrates on Classification and Reporting - Estimation is a large topic in its own right and is covered only briefly.

Resource/Reserve classification is a means of communicating relative confidence in estimation to all interested parties, and the results need to be sensible and useful to those parties. Too often classification decisions are given insufficient thought with potentially adverse and costly impacts. For example, an unreasonably conservative Indicated/Inferred Resource boundary will result in an unnecessarily conservative estimate of Mineral Reserves, with negative flow-on effects on mining or project development including implications for financing. It is also common these days for classification to be based strictly on statistical parameters that are generated during the estimation process. This creates a “pixilated” or “Spotted Dog” effect to the classification which should only ever be regarded as an interim step. It is essential that a subsequent smoothing process is applied in order to produce something of practical use to end-users.            
                              
The purpose of public Resource/Reserve reporting standards such as NI 43-101 is to ensure proper communication between companies disclosing the information (including Qualified Persons who prepare underpinning documentation), and the investing public which provides the funds and support needed to enable the companies to operate. The principles of such standards are Transparency, Materiality and Competence. Common sense adherence to these principles, as well as compliance with the content of the reporting standards, will ensure that the purpose of proper communication is achieved. There is now considerable international conformity of such standards, thanks to the efforts of national Reserves committees in Canada, Australia, South Africa, UK/Western Europe, USA, Chile, Russia, Mongolia and Brazil, and of the international umbrella organization CRIRSCO (Committee for Mineral Reserves International Reporting Standards).

Who Should Attend?

This day-long seminar will provide information, case studies and practical advice for companies and QPs to assist them to operate at the highest standards in this important area of their responsibilities. It will benefit mining/exploration company executives, geologists, mining engineers, metallurgists and other technical professionals who may need to act as QPs. Participants in this seminar will learn and explore the following topics:
  • Main Resource/Reserve estimation methods and their strengths/weaknesses
  • Purpose of Resource/Reserve classification and its role in assessing project risk
  • Resource/Reserve classification approaches and some pitfalls, including “reasonable prospects” discussion
  • Practical suggestions for improving Resource/Reserve classification
  • Development of national and international public reporting standards, including mention of Busang
  • Principles underlying reporting standards, including NI 43-101
  • Discussion of NI 43-101 and practical advice to ensure compliance
  • Discussion of other national reporting standards, such as JORC.

The seminar will include numerous case studies drawn from the instructors’ 80+ years industry experience.

Presenters

Pat Stephenson, P.Geo (BC, Sask.), BSc (Hons), MCIM, FAusIMM (CP), FAIG
Director and Principal Geologist, AMC Mining Consultants (Canada) Ltd.

Pat is a mining and exploration geologist with over 40 years' experience who has been consulting for the last 25 years. After graduating from Aberdeen University in Scotland in 1971, he moved to Australia with Consolidated Goldfields/Renison Goldfields and remained with that group for 16 years, working in all parts of Australian and in Papua New Guinea. He joined AMC Consultants in Melbourne as Principal Geologist in early 2001 after running his own consulting business for 11 years. He transferred to AMC Mining Consultants (Canada) Ltd in October 2007 as Regional/General Manager of its Vancouver office, stepping down from that position in December 2014. Pat was a member of the Australasian Joint Ore Reserves Committee (JORC) for 18 years, being Secretary or Chairman between 1992 and 2005. He was Co-Chair of CRIRSCO in 2005/2006 and has had involvement with the development of Resource/Reserve reporting standards around the world, including NI 43-101. He has authored or co-authored numerous papers on Resource/Reserve reporting standards and on classification/reporting. Pat has been part of the Special Committee of the Canadian Institute of Mining, Metallurgy and Petroleum on Valuation of Mineral Properties (CIMVal) for the past three years and was recently appointed to the VALMIN Committee, the Australasian equivalent to CIMVal.
 

Mort Shannon, P.Geo (BC, ON), BA (Geol.), MA (Geol.), MCIM
Geology Manager and Principal Geologist, AMC Mining Consultants (Canada) Ltd.

Mort is a mining and exploration geologist with over 40 years’ experience. Mort obtained a Bachelor’s degree in Geology at Trinity College in Dublin. After initially working in Ireland both in operations and on property exploration, he moved to Zambia to work in mine geology and exploration. He then joined Billiton and explored for zinc in Ireland before moving to The Netherlands, where he filled a Central Office role as Mining Geologist. This position involved travelling to many operations and to potential acquisitions and exploration projects around the world. After being posted to Canada in 1991 he worked in Toronto in a similar role and had significant involvement in the acquisition of Les Mines Selbaie for Billiton. From 1996 to 2004 he held similar roles within Placer Dome, which included five years as Chief Geologist at Dome Mine. Prior to joining AMC in 2008, Mort was Chief Geologist at the Porgera gold mine in Papua New Guinea with Placer Dome and then Barrick. Mort has co-authored numerous NI 43-101 and transaction-related reports, and has significant experience in auditing and reporting Mineral Resources.
 

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