Reserve for material mining project based appropriately

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Reference no: EM133860961

Question

Step 1: Carefully read the scenario below: A company has announced a Proved and Probable Ore Reserve for a material mining project based appropriately on Measured and Indicated Mineral Resources and Pre-Feasibility study level Modifying Factors. During drilling to upgrade the Inferred and Indicated Resources, major structural disruptions affecting the continuity of the resource were discovered. This information has lowered the company's confidence in the geotechnical study relating to the potential pit slope angles and the pre-strip tonnages. As a result, the projected operating costs may be affected, and the project economics are no longer robust.

Step 2: Consider the following question: While awaiting further technical information, what should the Competent Person advise the company to do regarding the currently reported Ore Reserves? Provide 3 or 4 recommendations.

Step 3: Submit your response and read the responses of the course facilitator and your peers. Provide helpful feedback and insights.

Reference no: EM133860961

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