placer examination
Principals and Practice

A rare field guide book “... prepared specifically for use by the Bureau of Land Management personnel” to evaluate gold placer mining operations, with the hope that it would be “useful to the mining profession.” 
Find out how to purchase your copy HERE

Evaluating Mineral Projects:
Applications and Misconceptions
by Thomas F. Torries

Whether you're an experienced evaluator of mineral projects, a student, or a decision maker who is not a practitioner but must use evaluation results, this new book is an essential reference for your bookshelf. Designed to complement traditional engineering texts, this book emphasizes the concepts of mineral project evaluation rather than computational details. It describes various economic evaluation techniques typically employed (including conventional cost analysis, discounted cash flow, and option analysis), their uses, and their relationships with geological, technological, and financial evaluations. Also discussed are the strengths and weaknesses of commonly practiced evaluation methods.

This book explains the practical difficulties in conducting an analysis and correctly interpreting the results, as well as the use of alternative techniques. Because many existing texts do not adequately discuss the meanings and application of merit measures, such as net present value (NPV) or internal rate of return (IRR), this book represents an exciting departure from standard reference tools. Contents include: why NPV and IRR are both valid and useful merit measures the shortcomings of conventional NPV and IRR analysis the dangers of scenario analysis why conventional incremental analysis is not needed to correctly calculate IRR why the desire to achieve NPV-consistent IRR is misleading how competitive cost analysis is conducted and used why option pricing is an important addition to the evaluation process.

When used correctly, evaluation methods are powerful tools to help us understand the economics of investment projects. Don't miss out on this new source. Contains glossary and full index.

The text covers what is meant by a cost-effective mining scheme, the economics of information, and the procedures for rational evaluation of uncertain projects. It defines "ore" from an economic perspective and covers the influence of scheduling on ore reserves.

Discounted cash flow techniques, the most widely used evaluation technique for investment decision making, is covered in detail. The assumption of the use of spreadsheets is unique to this book. The application of DCF techniques in an operating mine environment is given expanded coverage and examples are drawn from real-life studies.

The differences between economic decision-making--a forward-looking task--and the reporting of results via accounting methods--a backward-looking activity are reviewed. Capital and decision-making procedures associated with capital investments in a risk environment are given extensive coverage. Case studies for capital investment in an operating mine are included. Comprehensive examples investigate "value" from a risk-reduction perspective and from an "expected return on investment" perspective.

This book offers solutions to the problem that many mining projects fail to achieve expectations because of their inability to adapt to change. A new technique is explained that allows calculation of capital that is "at risk" from capital that is not at risk. This promises significant advances in the way that investments are made and capital is valued in the industry.

The book concludes with a brief review of the historical setting and knowledge difficulties in any mining-related investment, and how these issues might also influence the success of investments in the future.

An Insider's Guide to the Mining Sector
by Michael Coulson

In this book, Michael Coulson gives a masterly overview of the mining sector, explains both the rewards and the pitfalls of investing in mining shares and argues convincingly that mining should once again form a core sector for all investors. The book is for anyone interested in mining, and particularly mining as an investment. Whilst it contains material which will be useful to even experienced followers of the sector, its main target is those who are interested in mining but perhaps not particularly familiar with the sector, and would like to know more. All the subjects are covered that are fundamental to acquiring sufficient knowledge about the mining sector to invest in it with confidence.

Management of Mineral Resources:
Creating Value in the Mining Business
by Juan P. Camu

Editorial Reviews

Paul E. Lunney, P.Eng, MBA Director, Business Development Noranda Inc.
This book should be in the hands of anyone involved in, or aspiring to, management...of the minerals industry.

SciTech Book News, Sept 2002
His approach is systematic, and he challenges some outmoded paradigms and rules of thumb.

Dictionary of Mining, Mineral, and Related Terms (Hardcover)
by American Geological Institute, U S Bureau of Mines

This new edition, containing 28,500 terms, incorporates the technological developments and environmental regulations that have changed the minerals industry so dramatically. It is the culmination of a 5-year effort incorporating not only standard mining-related terms but also terms in peripheral areas, such as the environment, marine mining, leaching, pollution, automation, health and safety. Many of these terms now have a legal definition based on law or regulation.