• Cancellation Policy

Seminar

Classification and reporting of mineral resources / reserves are two of the three legs that support all mineral resources and reserves, the other, of course, being resource / reserve estimation - a large topic in its own right and beyond the scope of this seminar. Both are essential elements of communication and are critical aspects of Qualified Persons’ responsibility. There is no value in estimating resources / reserves well if they are classified poorly and / or reported ineffectively.  

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 matrix which, although acceptable as an interim step, is less than useful as a final presentation. It is essential that a subsequent smoothing process is applied to the classification in order to produce something of practical use to end-users.            
                             
The purpose of public reporting standards such as NI 43-101, which govern public disclosure of exploration results, mineral resources and reserves, is to ensure proper communication between companies disclosing the information (including Qualified Persons who prepare essential 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, reasonableness 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 and Chile, and of the international umbrella organisation CRIRSCO (Committee for Mineral Reserves International Reporting Standards).

This four hour seminar will provide information, case histories 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 and other technical professionals who may need to act as QPs. Participants in this seminar will learn and explore the following topics:

• Purpose of resource / reserve classification and its role in assessing project risk
• Resource / reserve classification approaches and some pitfalls, including case studies
• Practical suggestions for improving resource / reserve classification
• Development of national and international public reporting standards, including the Poseidon and Busang debacles
• Principles underlying reporting standards, including NI 43-101
• Comparison of NI 43-101 with other reporting standards

Instructor

Pat Stephenson, P.Geo, BSc (Hons), MCIM, FAusIMM (CP), FAIG - Director, Regional Manager, Principal Geologist, AMC Mining Consultants (Canada) Ltd

Pat is a mining and exploration geologist with 38 years' experience who has been consulting for the last 20 years. After graduating from Aberdeen University in Scotland in 1971, he moved to Australia with Consolidated Goldfields, which became Renison Gold Consolidated, 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 Manager of its Vancouver office. 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. Pat has authored or co-authored numerous papers on resource / reserve reporting standards and on classification / reporting.

Webcast Instructions:

A decision will be made on Friday, October 9th if there are enough registrants for the webcast to proceed.

System requirements:

• Pentium class 600 MHz PC or better
• Windows 98, ME, NT, 2000 or XP
• Full-duplex sound card
• 28.8 kbps modem dial-up or better (Greater than 56K recommended)
• Internet Explorer 5.5 (or higher)
• Cookies must be enabled (no cookie mongers)

You will need speakers to hear the audio. IE service packs should be current, and since a software download is required, your network, firewall and/or PC security must be set to allow this. At least two prior to the seminar, you will be forwarded instructions on how to access the session.

Cancellation Policy

Registered attendees unable to attend the event may designate a substitute, provided APEGBC receives written notification at least one business day prior to the event. Registration information for the substitute attendee should accompany the notice. If notice of cancellation of registration is received:

•  5 business days or more prior to the event, a refund will be processed
•  Less than 5 business days prior to the event, no refunds apply

Substitute registrants are permitted up to the day of the seminar and member/non-member fees will be applied. The organizers reserve the right to cancel the event if less than the minimum required participants have registered. Liability limited to registration fee.

APEGBC is an AIBC/CES registered provider offering an AIBC-Accredited activity for 3.75 Non-Core Learning Units.

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