Money of Mine Turning a deposit into a mine (Entech interview)
We sat down with a couple of legends, Jill Irvin & Shane McLeay of Entech, the gurus on what’s needed to turn a deposit into a mine.
They taught us about all the tricks in a mining company’s key studies, what makes a good study or bad one, the key numbers to look out for, where clients put the pressure on them, what’s underappreciated about their work & a whole heap more.
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(0:00:00)Introduction
(0:02:24)Scoping vs PFS vs DFS
(0:07:33)Resource confidence for studies
(0:11:10)Exploration targets
(0:13:00)Clues for a bad project
(0:15:00)Managing capex vs optimal design
(0:16:55)Chalice putting up 2 scenarios
(0:18:34)Right amount of money to spend on studies
(0:20:24)Internal studies
(0:22:38)Competitiveness between consultants
(0:26:18)Reviewing other studies
(0:31:34)Refusing to do a study
(0:34:16)Liability
(0:37:15)Evolution of study requirements
(0:38:43)Discount rates
(0:40:00)Rules of thumb for grade
(0:42:18)High grade that doesn't work
(0:43:46)Importance of orebody continuity
(0:46:48)Capex for 3rd world countries
(0:48:39)Owner mining vs contracting
(0:51:54)Geotechnical impact
(0:54:51)Contingency
(0:55:54)Contract tendering
(0:59:22)Metal equivelants
(1:01:58)Best study and most challenging study
(1:05:22)Electrification
(1:07:48)Conveyor systems
(1:12:40)Electrifying open pits