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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 thru Zoom by video over a 4 and a 1/2 day intensive program integrating lectures by the course leader and group assignments for course participants. The course is structured so as to be highly applied and maximize interaction of course leaders and 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 the Principal of Doggett and Associates and President of El Olivar Imperial, a private Peruvian mineral processing company. He has over 30 years of experience in the field of mineral economics advising mining companies, governments and international agencies. He has delivered professional development programs in mineral project evaluation to more than 3,000 people in a dozen countries. Dr. Doggett is an Adjunct Professor at Queen’s University, Canada where he served as Director of the Mineral Exploration Master’s Program from 1997 to 2007. In 2002 he was the recipient of the Robert Elver Mineral Economics Award of the Canadian Institute of Mining (CIM). He has served as the Society of Economic Geologists International Exchange lecturer in 2005 and as a CIM Distinguished Lecturer in 2010-2011. The Society for Mining, Metallurgy and Exploration (SME) presented him with its Mineral Economics Award in 2019.
$2499 CAD + GST: early registration (by Friday, Sep 23, 2022) | $2699 CAD + GST: late registration (after Friday, Sep 23, 2022)
Fee
includes: (4) full days and (1) half day, shortcourse notes and participation
certificate 10% discount for 5 or more participants from within the same company. 5% discount for 3 or more participants from within the same company. Payments accepted by cheque, wire and bank transfers, and all major credit cards. Space is limited for all courses. Register early
to avoid disappointment. Minimum of 12 participants required by the early
registration date
Register here by filling in the attached registration form, and sending it back by email, fax or by mail Please contact Karie Smith at karie@klsgeo.com for more information....
Past Course Comments: "The group exercises were great to help
understand the material and were applicable to real-life scenarios. Dr.
Doggett was very thorough and knowledgable. I did not have any previous
background in economics and was able to follow the course. He was great
at engaging the class and Karie did a great job with making sure
everything ran smoothly." "Good overview of economic and financial analysis
with real world examples. Course materials covered a wide range of
geologic and geographic locations offering real problems that need to be
understood in our industry. The course was organized in a methodical way
that should be imitated when doing future analyses. Dr. Doggett is
highly knowledgeable about the source material and about the industry as
a whole. He would often expand upon the source material, updating the
class on that mine's current status, and speak to how things come
together across the industry." "An extremely helpful and informative
course. The training materials were well organized and provided good
case studies." "The KLS SC52 course materials are very
complete. The presentation of each concept is thorough and there is time
for the appropriate amount of Q&A. Overall organization and pace of the
short course is ok for this industry's demand of its professionals." "A really thorough and clear introduction to the
use of business/financial tools and their aplication to the world of
mining. "Overall I found the course to be very well
organized and material covered was relevant and well presented. Michael
is very knowledgeable and was able to break down the material in a way
that was understandable even for someone like me with limited
understanding of all the financial terms and concepts going into the
course. As a geologist I think this course was an eye opener in
understanding all the other components that go into making a project
economic. I was really impressed with how well the course went through
Zoom. Karie and Michael had the material ready and available when
needed." "Overall a very good course, Michael knows
his material and can incorporate it into everyday, real-life examples.
The case studies and problems are essential to the understanding of the
material. I found the online style of the course to be better than
expected as well." "A1. Topics are absolutely relevant to my
practice, this is why I pushed to get this course. "The course was well laid out with a
progression to introducing the more involved processes and
considerations to calculating project NPVs. The real world exercises
make the material more relevant. Dr. Doggett knows the material
extremely well and has an easy relaxed approach to presenting and
introducing the topics." "This is a very comprehensive course that
covers a lot of ground very quickly. It has an incredible depth and the
content is very well presented. It allows the novice an easy access to a
complex field while not boring the already initiated. That said I do not
believe that any one leaves unchallenged. The lecturing portion is well
supported by the practical assignments and solutions. The supportive
approach to developing an understanding of the complexities of the
subject matter works and even once one feels lost, and overwhelmed, the
discussion circles around for a second pass that allows the participant
to re-engage. The use of up to date information makes the course feel
fresh and not canned. While the smooth delivery and comprehensive/
encyclopedic knowledge suggest the instructor is well versed and current
in the subject matter. I would recommend, and have recommended the
course to people in the depths of the industry and also to those on the
edges of it. Both will benefit from an excellent learning opportunity. " "The instructor is great, interesting and
very knowledgeable. This is very good to keep the group attention and
participation. The group was diversified; good mixing for the teams to
learn from other commodities and perspectives. Great organization. Clear
directives before the course. Clear directives during the course. Great
course! Thanks!" "Course material was more than adequate,
very complete and useful. Instructor was very efficient, competent, he
always kept the listeners interested. I appreciated that he used real
actual cases as examples for study. Technical organisation of the
video/sound webinar was excellent with sub-group that can work
separately from the main group." "The course was very interesting and
relevant for my work. Michael is very knowledgeable and is a very
skilled educator. The exercises were also very relevant and helpful to
understand the theory. I was pleasantly surprised at how well the
virtual format worked out. Thank you Michael, Karie and the technical
team." "Comprehensive and highly valuable course
material with a well constructed layout. The instructor relayed course
concepts clearly and effectively while keeping listeners engaged." "This course was great and provided me
valuable insight into the financial side of the mineral exploration
industry. The instructor was fantastic!" "Excellent. For Mike to remain engaging
during an online week long course was impressive. He speaks clearly and
fluidly and really ensures important concepts are absorbed. Some course
material for reference on early stage project evaluation would be
useful. Online format worked better than I expected." "The course was exactly as I thought it
would be. It was interesting and challenging and I am glad I took the
course. The material was very well laid out and the pace of the course
was perfect." "I really enjoyed the course. It was
challenging and engaging. The content was relevant and forms the basis
of the exploration industry as a business. The content was something I
had always been interested in but never had in depth exposure to at
work." "Hi Karie, I didn't believe that it would be
so thorough, interactive and explainable. I didn't have a financial
background, however Michael, regards of his experience and teaching
skills make it very understandable. (to be honest I was lost in the last
session, due to my limited experience). I didn't have any problem with
internet connection. Again, well done.." "Great instructor, interesting course
material and very useful exercises. It was probably one of the best
professional development courses I’ve taken. I liked his lecturing style
and talent for using interesting anecdotes. And I learned more from
doing the exercises than I could have just listening to a lecture." "Great course, great instructor and well
organized." "Well organized and very relevant to my current
position and company strategy. Breaking down where IRR / NPVx come from
was useful to then understand how to calculate.reverse engineer grades
and tonnage needed at specific profitability." "Spoke to many different levels of knowledge in
the room. Enjoyed how the class built from each lesson. Gave bite-size
pieces to better understand it on the whole." "Course was very well laid out. The material was
clear and informative. Slides for the course followed the written
material very well. " "Excellent domain of all topics with strong
academic and labor background. Material was always available and very
detailed. Course organization was easy, clear, and not a single issue at
all." "Good balance between (technical) mining,
business applications, finance, markets, etc" "Great presentation, speaking and communication.
Good practical examples, and enormous depth of experience to draw upon.
Essential knowledge for anyone who is involved in the business of mining
and exploration." "Dr. Doggett made a seemingly boring topic very
interesting. Looking at the course schedule beforehand was somewhat
frightening but he proved it was the opposite. Dr. Doggett is very
intelligent and can communicate complex ideas and concepts from several
aspects." "Dr. Michael Doggett is a great lecturer and
very knowledgeable of the subject matter" "Dr. Doggett presented the course materials in a
good, easy to understand fashion and he gave relevant examples. The
course assignments were good and helped the students work through the
problems to ensure understanding" "Even though the course is intended for those
with a technical background, as someone with a financial background and
very limited technical knowledge I found the course very useful. It
provides clarity around both basic technical and financial fundamentals,
and makes the crucial connections between the two for determining
economic viability. The instruction and organization are great, as the
material is communicated effectively and the flow was smooth." "In my opinion, the course is well supported by
the teaching-skills and experience of Michael. He was able to
communicate a lot of empirical and theoretical knowledge to the
attendants and provided several useful examples of actual mining cases.
These points were complemented by a good course coordination in terms of
resources, materials and logistic. In particular, I liked the UBC Robson
Square as a place for conferences. "
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