SC85-"Financial Tools and Economic Guidelines for 21st Century Exploration"

Introduction

This course is designed to teach geologists and mining related professionals the financial tools and other guidelines to effectively operate in the modern-day mineral exploration business. Evaluation of mineral projects will be discussed at all stages of the mineral supply pipeline within the broader context of proper investment decision making. This material will be augmented by corporate and industry-scale analyses.

Topics covered include:

Currency and Financing – real dollars, cost of capital, streaming and royalty arrangements.

Cash Flow and Discounted Cash Flow Metrics - -profit and margin analysis; operating margin; competitive cost position; payback period; net present value; Internal rate of return;

Sensitivity and Risk Analysis -analyzing the effects of uncertain parameters; answering 'what if' questions; trade-offs in geopolitical risk and geological quality; the probabilistic concept of risk;

Exploration Planning and Strategy - minimum acceptable exploration target conditions; lessons from exploration success and failure, finding versus acquiring ore reserves; structuring exploration agreements, major and juniors company approach to exploration.

Course Format and Delivery

The course will be delivered in-person over a 4 and a 1/2 day intensive program integrating lectures by Dr. Doggett and group assignments for course participants. The course is structured so as to be highly applied and maximize interaction of Dr. Doggett and the participants. International case studies will be used to highlight the course material and provide a highly applied approach to mineral project evaluation.

An integral part of the course is small group work whereby participants in the course are divided into smaller groups on video groups to discuss and complete assignments and industry case studies based on each segment of the course material. A volunteer from each group will be responsible for presenting the groups assignments to the class.

Course materials and lectures will be presented in English. Dr. Doggett can also communicate in Spanish for some small clarifications, if needed.

Dr. Michael Doggett is a Vancouver-based mineral economist with over 35 years of experience working with clients in some 20 countries on issues related to project evaluation, mineral taxation, private and government royalties, and industry exploration trends. From 1997 to 2007, Doggett served as Director of the Mineral Exploration Program at Queen’s University, Canada where he continues to serve as an adjunct professor. He has authored or co-authored more than 20 publications and provided training to more than 2500 industry professionals in 20 countries.

He has served on the board of several public companies as well as PDAC, MDRU, and the Committee on Earth Resources at the U.S. National Academy of Sciences. In addition, he is a founder of El Olivar Imperial, a private Peruvian mineral processing company with initial production scheduled for Q1 2023.

The Canadian Institute of Mining, Metallurgy and Petroleum presented him with their Robert Elver Mineral Economics Award in 2002 and named him Distinguished Lecturer in 2010. The Society of Economic Geologists named him as their International Exchange Lecturer for the year 2005 and the Society of Mining Metallurgy and Exploration presented him with their Mineral Economics award in 2019.

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