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By Ross D. Lawrence

"Comparable transaction analysis is the best known of the market approaches to valuation of exploration-stage mineral properties. The analysis of option and farm-in agreements can also provide useful guidance to valuators. While such approaches can be distorted by incomplete analysis, market-based methods are capable of providing consistent, credible results when carried out carefully with due consideration paid to all factors which buyers and sellers consider when dealing in the real market.RÉSUMÉRoss D. Lawrence graduated from the University of Toronto with a B.A.Sc. (Applied Geology-1956) and an M.Comm. (Mining Finance-1959). As a student and following graduation, he worked across Canada on a variety of mineral exploration projects.In 1962, he was one of the founders of Watts, Griffis and McOuat, and has practiced as consulting engineer since then. For the past 20 years, Mr. Lawrence has headed up the WGM valuation practice, responsible for a group of professionals which has carried out scores of valuations of mineral properties and mining companies. He is a Certified Minerals Appraiser of the AIMA and an active participant in professional affairs.INTRODUCTIONMineral properties without defined resources present one of the most challenging tasks to the mineral valuator. You will hear from others at this conference about the use of cost and income approaches to the problem of valuing exploration properties. This paper will concentrate on market-based approaches. Market based-approaches are based on the principle of substitution and include such techniques as:??Comparable transaction analysis (sometimes referred to as sales comparison analysis).??Farm-in commitment analysis??Rules of thumbAre there any valuation standards available to assist the valuator? In Canada there are none that apply to the valuation of mineral assets or securities. This problem is being addressed, at least in part, by the CIMVal committee of the Canadian Institute of Mining, Metallurgy & Petroleum (CIM)1. Further, the recently established Canadian Association of Mineral Valuators will be giving consideration to the adoption of valuation standards."

Jan 1, 2003

By Mafalda Arias

Most mining and mineral exploration companies? operate in remote locations, in Canada or internationally. Not knowing the cultural imprint of your team and the places where your company is active, may lead to problems. To set the foundation for a better world, it?s important to built trust and relationships inside your global team, within communities and together with stakeholders. Building the ?invisible asset? and developing intercultural awareness is an important part of leadership programs for geologists and engineers on your team, and should be a key component of your Corporate Social Responsibility initiatives. Why is culture important for mining and mineral corporations in their CSR initiatives? Because culture is the foundation of your organizational identity. Understanding the impact of identity, for an organization and for each individual, will provide a description of the experiences and values that affect every work placed interaction, with your clients, with colleagues, with suppliers, with the community of the host country. Each one of us sees and evaluates the world through our perceptions. Through these perceptions we give meaning; how we view and understand our reality which sets the tone for how relationships are built. This is what I call building the ?invisible asset?. Identity, experiences, values and beliefs are invisible commodities, locating them can be as difficult as finding a mine. But if they are not located, the commodity does not have value. Just like in the work we do in our industry. For example when you are working in an underground gold mine and the vein is lost, you keep on working and trying to find the vein; time passes, money is being used and no results. You decide to bring an expert on this type of deposits who gave you directions that allowed you to find the vein. To be a responsible citizen of the world and to set the foundation for a better world, it is imperative to go deep, as deep as your next drilling program, because only there and then, can you develop the cultural sensitivity and the ability to become an agent of change for responsible, sustainable and profitable businesses.

Oct 1, 2010

By Sadough vanini Ali

Charpy impact energy of functionally graded steels produced by electroslag remelting in crack divider configuration has been modeled in various strain rates. It has been well known that majority of materials indicate different behaviors under different strain rates and temperatures. Therefore, modifying the elastic-plastic model considering the effects of strain rates and temperature gives us an acceptable prediction of these composites behaviors in impact test. In this investigation, graded steel was divided in to several layers in which the layers have the same strains under the impact. Constitutive equation describing the flow stress variations as a function of strain rates and temperatures, have been used to express the stressstrain behavior of layers. The parameter values of constitutive equation determined for all the layers via using the boundary conditions based on composite graded behaviors which were the characterized ferrite, austenite, bainite and martensitte phases. Consequently by applying the rule of phase mixtures and ascribing the impact energy of each layer to the area of stress-strain curve of the same layer, the whole impact energy of composite is the sum of layers impact energy with considering the layers volume fraction.

Oct 1, 2011

The Cooperative Research Centre for Mining Technology and Equipment (CMTE) is funded by the Commonwealth Government, by its mining research members Ñ the Universities of Queensland and Sydney and the CSIRO1, and by its industry members Ñ BHP Coal, RioTinto R&TD, Hamersley Iron, Mining Technologies Australia, Pasminco, Shell Coal, WMC Resources, Advanced Mining Technologies, and Aberfoyle. The Centre conducts work aimed at improving the competitiveness of the Australian mining industry. The current work is focused in four areas: new mining and drilling systems, geological sensing, automation, and equipment maintenance and reliability. This paper describes much of the work in these program areas that relates to metalliferous mining.

Jan 1, 2001

By S. Sundararajan, Z. Lin

ABSTRACT Fierce market competition and demand have made it imperative for mining companies to achieve higher productivity and operational efficiency. The selection of the best mining method and equipment combinations will enable companies to meet production and efficiency targets. Continuous mining is increasingly preferred by companies for its high efficiency and low unit costs. We developed simulation models for two continuous mining systems: the continuous surface miner (CSM) system and the at-face slurrying (AFS) system. Considering two different case studies, the paper discusses application of developed models to determine the optimal number of trucks and equipment capacities for the two systems.

Jan 1, 2013

By T. G. Joseph, M. Welz

ABSTRACT: Joseph (2002) introduced passive seismic monitoring to measure mining equipment performance. This paper evaluates the potential of passive seismic monitoring to correlate mining equipment operation with oil sands surface response, with a mining hauler as the seismic source. When applied to moving haulers, this action–reaction approach is complex. Vibrations from on-board equipment, such as pumps and tires, dirty the signal with noise. To facilitate any correlation, the signal must be cleaned up. Existing geophysical analytical techniques were manipulated to evaluate the noise problem and to filter sufficiently to permit an evaluation of whether a mining equipment action–ground response relationshipis in fact discernable.

Jan 1, 2011

By Rashid Bashir

The presence of groundwater in the form of large aquifers can have an important influence on investment decisions for underground mines. The design for such mines requires development of special mining methods, and mine dewatering infrastructure to avoid hazards during shaft sinking and underground development. The costs associated with mine drainage control and Mine Dewatering Systems (MDS) are relatively small compared to the huge consequential losses that can occur in case of an uncontrolled inflow and subsequent flooding of the mine. The design of MDS needs consideration of accurate prediction of the maximum uncontrolled inflow rate, availability of the system during an uncontrolled inflow while the inflow is mitigated, and decision on pumping system technology to have capability to operate under water. The research presented in this paper provides a theoretical framework for a reliability based design procedure which takes into account the uncertainty in the estimate of the maximum uncontrolled inflow, performance of the system during the period of an uncontrolled inflow and a methodology to decide on appropriate pumping technology considering the reliability of the system and available underground storage. The reliability based mine design procedure integrates the ideas of Effective Reserve and Hydraulic Reliability Index to come up with a unified methodology for design of Mine Dewatering Systems.

Aug 1, 2010

By W. D. Breil, C. B. Ison

A collection of general performance data relating to the G.H.H. - Gutehoffnungshiitte multi-rope friction hoist will be discussed together with some aspects of the following: overspeed supervision by a pantam device as opposed to the lilly type of fly ball control, automatic control systems, multi-disc braking, generator and motor winding, constant temperature monitoring, the development of an automatic hoist-rope lubrication system, and the control of rope tensions by the installation of G.H.H. - Gutehoffnungshiitte hoist rope fine tensioning units.

Jan 1, 1972

By I. Donohue, M. Pearson, E. Barrette

"This paper presents the technique and benefits of the finite element approach for designing the refractory lining in pressure oxidation autoclaves. One-dimensional equations are used to develop an initial refractory design. ANSYS Parametric Design Language (APDL) scripts are then used to build and analyse a more accurate three-dimensional finite element model to verify the refractory thickness, determine weld overlay requirements, and assess mechanical stability. The APDL scripts provide a cost effective means to quickly evaluate various boundary conditions and multiple designs to determine the optimal lining configuration and nozzle layout.INTRODUCTIONNew ore processing facilities demand increased capacity, requiring hydrometallurgy processes that have larger reactor vessels operating at higher pressure and temperature. Many pressure hydrometallurgy operations require vessels with an impermeable membrane and one or more courses of refractory or ceramic brick. The membrane provides corrosion protection for the vessel shell and the brick provides thermal protection for the membrane. Designing a refractory lining with an economic service life as a thermal barrier requires the refractory to be erosion resistant, chemically compatible with the process fluid, and mechanically stable. A fundamental understanding of the factors affecting the lining system is essential as designs move further away from the industry’s experience base.During basic engineering the refractory lining design is developed using one dimensional cylindrical conduction equations for heat transfer and classical hoop stress-strain relationships for determining mechanical stability. The results of the thermal calculations specify the refractory thickness that should prevent the membrane temperature from exceeding the design limit. Mechanical stability of the lining is determined by examining the sensitivity of lining stability with respect to various parameters. There are three criteria that must be satisfied to conclude mechanical lining stability:"

Jan 1, 2012

By B. Haneman, J. A. Gorst, W. Slabbert

"The Bayer process involves the digestion of bauxite in caustic liquors at high temperature and pressure. Typically the digestion section of the plant involves the heating of liquors up to the digestion temperature followed by flashing of the digestion product to atmospheric pressure with the flashed steam used to pre-heat the incoming cold slurry. Despite the heat recovery, the digestion process is a high consumer of energy. The application of tube digestion technology in such plants has resulted in significant improvements in refinery energy efficiency with associated benefits of process simplification and refinery flow sheet capital cost reduction. This paper reviews the potential application of this technology to other metals within the non-ferrous industry.THE BAYER PROCESSA typical Bayer flow sheet is shown in Figure 1. The raw feed material bauxite (containing aluminium hydroxide as gibbsite Al(OH)3 and boehmite AlO(OH)) is digested in caustic liquors (caustic soda is the solvent) at high temperature and pressure. This process extracts the alumina and silica and any carbon present on the ore. The slurry is then flashed down to atmospheric condition allowing for heat recovery from the flashed vapour and producing slurry supersaturated in alumina.Following the digestion process the mud is removed via thickening and then pressure filtration to remove fine particulate and produce a clarified liquor with dissolved alumina in solution. The resulting pregnant liquor is then cooled allowing the alumina in solution to precipitate as aluminium trihydrate Al(OH)3. The precipitated hydrate is then filtered and washed and classified into fine and coarse fractions. The fine material is returned to the precipitation process as seed while the coarse fraction is calcined at high temperature to produce alumina. The filtrate from the filtration process (spent liquor) is then heated by the incoming pregnant liquor before being fed to an evaporation process which produced the strong caustic liquor required in the digestion process. Finally, the mud from the thickening process is washed to recover caustic and then fed to tailings ponds. The washer overflow is then mixed with the digester product to increase super-saturation."

Jan 1, 2012

By Anoush Ebrahimi

Mining dilution is one of the most important factors affecting the economy of mining projects. Ore losses and dilution are present at all stages of mining and while several models can investigate the influence of dilution it is its quantification that poses the most serious challenge (Pakalnis et al., 1995). This paper introduces a methodology to quantify dilution factor in open pit mines. The proposed approach makes use of general mining software available in most mining companies. Therefore it is amenable to most mining operations and provides a readily available tool for understanding mining dilution for operators and consultants. To illustrate the methodology the author uses an example from a hypothetical mine. Dilution increases the operating costs in the mill by increasing the tonnage of material to be milled. In addition to its direct impact on short term income of a mine, dilution causes significant changes in other factors that on the long term reduce the overall value of the project. For example, it prolongs the mine life by reducing mill?s effective capacity. It also reduces the feed grade. In most cases, lower feed grade means lower mill recovery. Dilution also increases the cut-off grade which in turn reduces the overall ore utilization of a mine. In some cases, to take advantage of economies of scale, mining operations tend to plan for higher mining rates. Moving to a larger scale of operation means less selectivity, hence more dilution. This is true for all kind of deposits. High level and uncontrolled dilution may ultimately defeat the purpose of increasing production rates. If not impossible in theory it is nevertheless extremely difficult and expensive to eliminate dilution in practice. Some amount of dilution is practically unavoidable in most mining operations (Scoble and Moss, 1994). Although completely avoiding dilution may be impossible, we can measure and control it. By better understanding the root causes of the dilution and planning accordingly, it can be controlled and reduced. While we do our best to identify and calculate all the other cost items of a project, no matter how small, it is common to make general assumptions about dilution instead of quantifying it. It is common to assume a general dilution such as 5% for massive deposits and 10% for tabular shape deposits. While these figures may be a good starting point in early stages of mining studies, it does not take in to consideration the complexity of the problem. Dilution factor varies within a single mine for different benches and zones. This is due to changes we see in grade distribution and shape of ore body. It also varies based on commodity price. It is necessary to make sure that these variations are taken into account when designing or evaluating a mine. Dilution varies in different mines based on the deposit characteristics, operational aspects and economic cut-off grade. For instance, shape of the deposit, bench height, equipment size, and market conditions will have an impact on the level of dilution in a mine. It is paramount for mining projects to have a better understanding of dilution right from the beginning. In times like today, where mining operations must operate at peak efficiency, it is even more crucial to be able to calculate and have a better grasp of all the parameters influencing the economics of a project including dilution. In order to produce better project evaluations, dilution studies should be an integral part of any project.

Aug 1, 2013

By Jeremy G. Berg, James B. Mulligan

"There is a very small fraction of wireless experts in the world with experience in underground installations and an even smaller fraction that have experience specific to building mine shafts. This is why in 2009, Redpath created its own system to meet the demands specific to shaft construction. Today, after a dozen shaft installations and several design iterations, Redpath has the expertise and experience required to implement a proper wireless system in any shaft configuration.This document will explain multiple proven wireless communication designs optimized for shaft construction and suitable for permanent use. This includes line of sight installations up to 1200m, short range mesh networks, and the latest patent pending Integrated Leaky Feeder Mesh Network. Additionally, this document will explore the lessons that Redpath learned in its effort to interconnect the people and tools needed to build a mine shaft.INTRODUCTIONAfter a decade of research, several design iterations and a dozen application examples, Redpath has resolved two wireless network architectures to best serve mine shaft construction projects.The long range line-of-sight (LOS) wireless network is the most cost effective and easiest to install, but requires an unobstructed line of sight between the working area and the shaft collar. As such, long range LOS is best suited for ventilation shafts or during the first phase of shaft sinking, before the shaft is equipped.Alternatively, a mesh network uses radios installed at pre-determined intervals in the shaft and on each conveyance. A wireless mesh uses antennas to bridge intervals between shaft radios, whereas Redpath’s integrated leaky feeder mesh network (patent pending) bridges these intervals with radiating cable, commonly referred to as a “leaky feeder” cable. Both of these mesh configurations can provide continuous reception for hoist conveyances travelling in shafts without line-of-sight, making them ideal for shaft equipping and even permanent installations in both mine shafts and lateral drifts.BACKGROUNDHoist operators receive operating commands using what are commonly referred to as “bell signals.” These instructions are delivered in a series of coded pulses on a spring returned pull cord or push button that is typically hardwired back to the hoist operator’s control room from one of many locations in the mine shaft. During the construction phase of a traditional mine shaft, a worker riding inside the sinking bucket would have to reach out to a pull cord installed on the shaft wall to send a stop command to the hoist operator. Today, Redpath’s modern shaft sinking projects use fully enclosed personnel carriers to protect the workers riding inside, specifically preventing workers from reaching out into the shaft while the hoist is in motion. The enforcement of this safety feature on all shaft projects in 2008 forced the engineering group at Redpath to find a suitable wireless solution for hoist communication to facilitate shaft construction.THE IDEAL COMMUNICATION SYSTEM FOR MINE SHAFT CONSTRUCTIONIdeally, the shaft communication system should not transform the tools to which the miners have grown accustomed. It should support the push-to-talk functionality of traditional VHF handsets and the standard belling system that has been used for decades. Additionally, it should be able to support a vendor independent framework upon which new devices and features can be added. The following paragraphs summarize some of the important requirements Redpath has identified.Support for voice transmission: Low latency is critical to prevent jitter during voice transmissions. The system must be compatible with commercially available mobile handsets and support several simultaneous conversations with the ability to broadcast a voice message to all users on a select channel using a “push-to- talk” microphone and loudspeaker.Transmission of PLC data: Low latency is required to"

Jan 1, 2019

By W. B. Burchall

Introduction In presenting this paper the author wishes to state that the opinions here given represent only his personal views. A general survey of the subject has been attempted, but such deductions as may have been drawn are not necessarily endorsed by the Company with which he is associated. The aeroplane as an instrument of transport is yet a novelty, for it is only twenty-five years since man first flew. This statement, by itself, may be very deceptive, for compared with the steam locomotive or even the auto-mobile, this infant in industry has made some remarkable showings. The 'actual performance' speed-curve of aircraft plotted over a ten-year period is rising faster than the 'expectancy' speed-curve of 1924 indicated, and it should be noted that, today, the possibilities of 600 miles per hour provoke less scepticism than did the prophecies of 400 miles per hour only a decade ago. Commencing with the remarkable achievement of raising one man into the air, aircraft with an all-up weight of 14 tons are now in daily use on the British airways, and recently a non-stop flight of 5,340 miles was accomplished in an aeroplane, without refuelling. More true than ever is the statement that the records of yesterday are commonplace tomorrow, for new ideas are today seized on and exploited to the utmost once the period of scepticism and doubt has been overcome. In fact, so many new ideas have been brought forward, during the past few years, and applied successfully in our economic life, that one may well ask if today we are not a little too impatient, too exacting in demands, forgetting that real worth-while progress -is attained by no short-cuts.

Jan 1, 1933

By George E. Cole

"It is a truism that the metals, and particularly the precious metals tend to monopolize the attention of those interested £n the mineral industry. This is a tendency to be mildly, but actively and continuously combatted if we are to have a well-rounded mineral development." There are in the province of Ontario a number of industries centred about the non-metallic minerals. Too little is heard of the part these play in our industrial life. It is with the intention of showing what the gypsum industry is doing in Ontario that this paper is written. The writer lays no claim to any originality in the discussion and merely offers some material in an endeavour to assist in bringing about that 'well-rounded mineral development' sought for Ontario. M. Y. Williams in his "The Silurian Geology and Faunas of Ontario Peninsula and Manitoulin and Adjacent Islands"1 in discussing the industries dependent on the Silurian rocks of south-western Ontario points out that "the splendidly ordered gypsum mine at Caledonia, formerly owned by the Alabastine Company of Paris, and now owned by the Ontario Gypsum Company, is a revelation to the average man, who disconnects mining entirely with this part of Ontario". This region is better known as one of the richest and most thickly settled agricultural areas in Canada.

Jan 1, 1925

By F. Ford, Z. Dai, A. W. Lee

ABSTRACT: As high-grade nickel sulphide ores are being depleted and processing laterite ores continues to pose challenges, the future of nickel extraction lies in low-grade ultramafic ores. Canada has large resources of low-grade ultramafic nickel sulphide ores in the Thompson Nickel Belt. Most of the deposits are high tonnage and open pittable, but have high MgO content. The main challenge in processing low-grade ultramafic ores is the presence of serpentine. Chrysotile, one of the three polymorphs of serpentine, is the most common form of asbestos. In addition, the high slurry viscosity associated with ultramafic ores makes grinding and flotation possible only at a very low solids percentage.

Jan 1, 2011

By Kevin J. Melong

"Redpath Canada Limited and joint venture partner Thyssen Mining and Construction Canada have recently completed the sinking of the Scissors Creek service in Saskatchewan through its joint owned company, Associated Mining Construction (AMC). The Scissors Creek service shaft was sunk at Nutrien’s Rocanville mine. The following paper outlines the shaft sinking plant and the methodology related to sinking and shaft lining. KEYWORDS Hydraulic shaft jumbo, Hydraulic shaft mucker, Potash shaft sinking, Shaft lining, Sinking galloway INTRODUCTION The sinking and lining of shafts at mines to access mineral deposits has always been one of the great mining challenges for owners, engineers and contractors. Over the course of history in Canadian mining, the sinking of potash shafts through the notorious Blairmore formation of Saskatchewan has proved to be some of the most challenging shaft sinking projects on record. There is no doubt that today’s shaft sinking business demands the utmost in safety performance while delivering projects within schedule and budget. Given these requisites, Redpath and TMCC (executed under the joint venture company, Associated Mining Construction or AMC), were taxed with developing the shaft sinking system to deliver this program in the safest and cost effective manner, with due regard to schedule and quality. Traditionally the potash shafts sunk in Saskatchewan involved a significant level of manual labour, owing to the methodology of excavation by means of chipping the frozen shaft sections with hand held pneumatic machines, and manually placing tubbing segments or steel liners of the shaft lining system. Most certainly, the AMC team wanted to make a step change from those earlier sinking programs and develop systems for sinking this potash shaft that removed the high level of manual work, thus making this project inherently safer, while endeavoring to sink more efficiently. With that in mind, the team embarked on a design program to improve its overall shaft sinking systems without the requirement for excessive capital and methodology flexibility to adapt to potential changing conditions expected to be encountered during shaft sinking. This was especially important should the new approach be met with less than expected success, and retrofitting of the system was required. The concepts were developed to provide for a much improved work environment, while easing the manual labour burden on the workers with innovative equipment and approach to the work."

Jan 1, 2019

By M. Zamalloa, P. J. Mackey, P. Coursol, Y. Prévost

"Over the last decade or so, the availability of commercial thermodynamic modelling packages, such as FactSageTM, have been utilized to help the plant optimize slag chemistry and to minimize slag handling issues that can arise, such as those due to a process upset, for example, by undue feed variability. This paper illustrates an extension of the application of this software in examining a large range of NCV operating parameters, such as the %Fe/SiO2 ratio in the slag and the level of minor gangue components in the slag including CaO, Al2O3, ZnO, MgO, and PbO. The conditions influencing the slag liquidus range of NCV slag are discussed with respect to the overall process chemistry.Given that a sufficiently low %Fe/SiO2 ratio is used in NCV slag, most components such as CaO-ZnOPbO- Al2O3-MgO, in small concentration, all contribute to lowering the NCV slag liquidus. Considering the present level of these minor components, the NCV can operate consistently at 1200°C if the %Fe/SiO2 is between 0.6 and 0.8 in the slag. Using the type of phase diagrams presented in this paper, it is possible to develop different Noranda reactor/Noranda converter operating strategies adapted to the feedstocks available at Xstrata mines/plants or from other sources. The NCV is unique in that a fayalite-based slag is employed for high-efficiency continuous converting with excellent operating results."

Jan 1, 2007

By James McMahon

Although doubt has been expressed many times as to who first brought self-contained breathing apparatus to this side of the Atlantic, there is none whatever that the first organized station was established at Glace Bay, N .S., by the Dominion Coal Company, in 1907. This station was started with 20 sets of 1907 "Draeger" apparatus and all necessary station equipment and supplies. After the fire at No. 1 pit, Sydney Mines, in 1908, the Nova Scotia Steel Company installed 15 sets of "Draeger" and sup-plies, which were housed in a rescue car (a converted pull-man.) In 1909 or '10 a fire occurred at the Back Pit, Stellarton, where the apparatus from Glace Bay was used, and subsequently the Acadia Company erected a station and in-stalled 10 sets of "Securitas" apparatus. In 1912 the station at New Waterford was opened and equipped with "Draeger," and the same year the station at Springhill was built and equipped with the same type. Sometime during past years the Nova Scotia Steel Company acquired a couple of "Proto" machines, and after the explosion at the Allan shaft in 1918 the Acadia Coal Company added some "Gibbs" to their station. From this it will be seen that when the coal-fields were organized under the British Empire Steel Corporation the equipment was rather mixed, therefore steps were taken by the executive to stanardize the whole of the rescue and recovery work.

Jan 1, 1924

By R. D. Lawrence

"Suggestions have been made that the appraisal of mining assets using discounted cash flow techniques should be based solely on proven and probable reserves in reliance upon the widespread international recognition of uniform resource definitions. Following a review of general accepted valuation principles, a survey of the literature and, most importantly, a review of real transactions in the open market, it is clear that valuators should not be constrained by the growing acceptance of modern mineral resource codes. On the contrary, valuation practitioners should be encouraged to examine all classes of mineralization and, after making due allowance for risk, to utilize all mineral resources as a basis for determining fair market value.INTRODUCTIONGreat strides have been made recently in achieving an international consensus on mineral reserve and resource definitions and classifications. The Australasian JORC code, the CIM code in Canada, the SME proposal in the United States and even a proposed code from the United Nations have all brought the objective within reach.Unfortunately, this success has led to another problem for mineral valuators. Certain securities regulators, tax collectors and their ilk have begun to expound on the opinion that discounted cash flow projections carried out to calculate net present values that would form the basis for a valuation determination should be based solely on proven and probable reserves. The author disagrees with this position. This paper examines the subject from four points of view:"

Jan 1, 2003

By George M. Douglas

The southeastern shores of Great Slave lake present a curious anomaly in geographical and geological exploration, in that an area so large and important, and withal so comparatively accessible, should nevertheless have remained unexplored, unmapped, and indeed almost unknown, until quite recent" times On their return from the famous journey to the mouth of the Coppermine, the band of Indians with whom he travelled led Samuel Hearne across Slave lake. He was the first white man to see that great body of water and it is rather curious that it should have been seen first from the north rather than from the south. Hearne's account of the lake is vague, and he made no attempt ?to map the part through which he travelled. About 30 years later John Franklin, on his first journey to the Arctic, crossed the lake from the mouth of the Slave river to the Yellow Knife river. Franklin's maps show all of his route in accurate detail, except that part of it which lay through Slave lake. In 1833-34, Captain, afterwards Sir George, Back made the first exploration of the eastern end of the lake. Captain Back was then on his way to the Arctic coast by way of the Great Fish river, and his Indian guides led him through Great Slave lake by the route they had followed from time immemorial. This route, partly because of its directness, and partly because of its sheltered character, lay through the great mass of islands in the middle of the lake to the Talthei narrows, and thence along the sheltered north shore with its many coves and harbours. Pere Petitot made extensive journeys in Slave lake as well as other parts of the far north.

Jan 1, 1929