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Mineral Economics
Although technically orientated the resources sector operates within a business and economic framework which requires a suitable knowledge of economic, financial, management, legal, regulatory, political and social environments. Mineral economics therefore combines the technical knowledge of exploration, mining and processing with economic input parameters to produce a monetary value.
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Minxcon's Core Values
• To utilise vastly experienced technical staff with high professional standards
• To maintain our unquestionable independance
• To act with integrity at all times
• To provide innovative solutions
• To offer the highest quality of service
The ability to provide services and advice from the project inception stage, through the listing period, all the way to production and mine closure makes Minxcon an exceptionally diversified advisory company.
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Valuation
The value enhancement of mining projects typically takes on the shape of an S-curve during the different stages of the resource upgrade, from the discovery of the deposit through to the mineral project commissioning stage.
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Compliance and Corporate Reporting Team
The methodologies used in valuing a project differ depending on whether the project is at the exploration or producing stage. The following three valuation methodologies are internationally acceptable methods of valuing mineral projects and are the methodologies used by Minxcon:
- Historical Cost Method: Used to value early stage exploration projects ("moose pasture" with a few boreholes drilled and encouraging results obtained);
- Comparative Value Approach: Used to value middle stage exploration projects (several boreholes drilled with encouraging results) and a resource statement;
- Discounted Cash Flow: Used to value late stage exploration projects through to development projects (pre-feasibility study already completed with positive results decision made to carry out a full bankable feasibility study, the bank financing lined up or construction to begin in the next 6 months).
The following table illustrates the acceptable methods of mineral project valuation compared to a projects development level:
Services
Mineral Economics and Valuations
• Independent Mine Financial Valuation Services
- Historical Cost Valuations
- Comparative Value Analysis
- Discounted Cashflow Modelling
- Financial Due Dilligence Studies
• Sensitivity Studies and Analysis
• Technical Opinions on Project and Mine Robustness
• Commodity and Market Analysis
• Deal Structuring
| Johan Odendaal |
| B.Sc (Geology), B.Sc Hons. (Mineral Economics), M.Sc (Min. Eng) |
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Johan Odendaal has 22 years experience in the mining and financial industry. He commands a wide range of knowledge on both local and international mining companies. As a former employee of Merrill Lynch, he was actively involved in advising mining companies and investment bankers on corporate related issues. Rated one of the top platinum mining analysts, he became a globally recognised industry specialist. Regular contact with the mining, corporate and investment community allowed him to build an extensive network of contacts around the globe specializing in the valuation of mining and exploration companies. |
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| Fanie Muller - Mining Engineer |
| B.Eng (Mining) |
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Fanie joined Minxcon in August 2007. He obtained his B.Eng (Mining) degree from the University of Pretoria in 2004. As a former Anglo Coal employee he worked on various collieries in the Witbank area. His experience includes production as well as the Continuous Improvement processes on the collieries. Since he joined Minxcon, he was contracted to the Kopano JV team on the Turk Shaft project and is currently outsourced to Anglo Platinum's Strategic Long Term Planning Department. He is currently studying towards his M.Eng (Project Management) degree at the University of Pretoria.
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