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The visit which took place on the 18th February, 1972 was a departure in that the places visited had no direct connection with the work in which members of the Institute are normally engaged. It was refreshing and stimulating to see important and involved operations normally outside ones own trend of life and to have experts to speak about technical, financial and matters of general interest concerning their work, not forgetting their troubles and problems and how they overcame them. Carlton Centre The members of the Institute were received by Mr D. Appleton, Public Relations Officer of the Carlton Centre Limited, who introduced Mr L. R. M. Fee of W. Rhodes Harrison, Architect in charge of the project; Mr W. C. E. Skilton of Murray and Roberts, the Engineer in charge of the construction of the complex and Mr A. Home the Senior Operating Engineer of Carlton Centre Limited. Each of these gentlemen addressed the members giving short rundowns on the project with special reference to their particular sphere of the undertaking. A variety of particularly interesting statistics relating to the planning construction and the ultimate operation and maintenance of the complex was given. Mining engineers present had an opportunity to compare the problems encountered by them associated with depth to problems encountered by the civil engineer in the construction of a building rising to such an enormous height. To some of the members a sense of similarity of the labour problems encountered must have been recognised. After tea the visitors were divided into groups, each under the guidance of an official, and then visited the highest floor accessible and thereafter the 19th floor where the internal arrangements for airconditioning, lighting, plumbing, power supply and communication arrangements were explained. Thereafter a visit to one of the seven basements which houses all machinery required to serve this enormous complex enabled the visitors to see the standby power arrangements as well as the refrigeration plant. The visit finished in time to proceed to the Crest Hotel in Hillbrow for lunch. To our hosts for the visit to the Carlton Complex a special vote of thanks is recorded. Strydom Tower In the afternoon the party proceeded to the Strydom Tower where Mr Knight from the Public Works Department who was the Engineer in charge of the construction of the tower gave details on the construction and the extraordinary methods which had to be adopted to achieve the desired objectives and to overcome known as well as unforeseen difficulties. The comparatively short time taken to complete the project and the good safety record appeared to impress the visitors. The final phase of the visit was taken care of by Mr Bothma of Telecommunications Department of the Post Office, who gave an extremely interesting explanation of the telecommunication organization of the Post Office with particular reference to the part the Hillbrow Tower plays in the South African telecommunication system. Both gentlemen answered many questions willingly and interestingly. Following the explanatory talks the visitors were shown the technical equipment housed in the two top levels of the tower. Short explanatory talks gave members an insight into the workings of one of the most important aspects of modern life. Even to the amateur photographer opportunities existed to view and photograph the city from the highest available observation point. We are indebted to Mr Gouws, the Regional Director of the Post Office for granting permission to visit sections of the tower normally not accessible to the general public and to our hosts for the manner in which we were received and entertained on the explanation of the many interesting features of this important installation. In conclusion, the programme for the day can be classified as interesting, of exceptional educational value, and an opportunity to see something of the engineering skills put into two vast and ambitious undertakings and the results achieved.

THE THIRD INTERNATIONAL GEOCHEMICAL EXPLORATION SYMPOSIUM (Summary Account) This Symposium, co-sponsored by the Canadian Institute of Mining and Metallurgy and the Society of Economic Geologists, was held in Toronto, Canada in April, 1970. Over 700 delegates attended from 26 countries. Ninety papers were presented at the symposium and another 18 papers were read by title. The programme included: An Opening Session, Five General Sessions, a session on Remote Sensing Methods, a session on Geochemical Prospecting for Petroleum and Natural Gas, a session on Primary Halos and Lithogeochemical Methods, and a session on Statistics and Evaluation of Geochemical Data. The delegates were welcomed by Dr J. M. Harrison, President of the Canadian Institute of Mining and Metallurgy and Dr C. H. Smith, Regional Vice-President, North America of the Society of Economic Geologists. Dr D. R. Derry of Toronto delivered the opening address to the Symposium entitled 'Geochemistry-the link between ore genesis and exploration'. Dr Derry considered the various hypotheses on the origin of economic mineral deposits and expressed his belief that the next ten years will show evidence of an increased proportion of ore bodies that owe their origin, at some stage in time, to supergene agencies. He stressed that 'there are no sharp divisions between processes that form and destroy ore bodies at or near surface and those that form or destroy them at a depth of 20 kilometres in the earth's crust. The more we understand about the migration and concentration of metals the more accurately we can apply this knowledge to searching for unknown concentrations, whether at rock surface or at depth. To learn more about these processes of ore genesis we must rely on geochemical studies co-ordinated with field observations'. The five general sessions included accounts of progress in geochemical prospecting in different countries of the world, case histories describing the application of soil, stream sediment, geobotanical and biogeochemical techniques, papers on the behaviour of different elements under varied environmental conditions, discussions on analytical methods and the use of stable isotopes in mineral exploration. It is anticipated that the proceedings of the Symposium will be published late in 1970 or early in 1971 as a Special Volume of The Canadian Institute of Mining and Metallurgy. All registrants at the Symposium will receive a copy of this publication and copies will be available for purchase. At a special meeting called during the Symposium, charter members of the Association of Exploration Geochemists approved a constitution and elected an interim Council which will organize procedure and formulate policy during the coming year. The interim president of the Association is J. Alan Coope, Newmont Mining Corporation of Canada Limited, Toronto, Canada. More information on the constitution and membership in the Association will be distributed to learned societies and technical magazines in the near future. Membership will be open to exploration geochemists in all countries of the world. SOUTH AFRICAN COUNCIL FOR PROFESSIONAL ENGINEERS Report on Registration The Professional Engineers Act (Act 81 of 1968) came into force on the 14th February, 1969. At the time it was recognised that the success of the Act would depend in large measure on the extent to which engineers in South Africa would become registered professional engineers in terms of the provisions of the Act. The promulgation of the Act and its provisions relevant to registration were the subject of considerable publicity during 1969. This has resulted in a rate of application for registration far beyond the capacity of the very active committees set up for this purpose by the South African Council for Professional Engineers (SACPE). To give some idea of the task before these committees and before SACPE itself, which must ratify each case,

Often plant performance suffers as a result of poor control. Poor control leads to low mill throughputs, poor classification and less than satisfactory concentrate grades and overall recoveries. By using the appropriate control tools, substantial gains in plant performance can be made. Mintek?s MillStar and FloatStar controllers have been implemented at various sites across the world. The MillStar controller incorporates leading technology that controls process units from the mill feed through to the flotation feed. Typical results show that milling circuit throughput is increased by 6-10 % and the final product grind size is tightly controlled, thereby enhancing flotation performance. The FloatStar controller is aimed at stabilising and optimising flotation circuits. Through improved level control alone, recovery improvements of up to 1 % have been achieved. Furthermore, by using on-line grade analysers, the controller stabilises final concentrate grades, whilst maximising flotation recovery.

Jan 1, 2005

By H. Urata, K. Ishii

To determine the effect of F ions in the molten alkali silicate systems on their structures, quenched Na2O-SiO2-NaF systems were investigated by Raman spectroscopy and molecular dynamics simulation. The systematic increase of 1100 cm-1band intensity in the Raman spectra of the silicate melts accompanying the replacement of F for O provides the evidence for concomitant polymerization of melts. From the molecular dynamics simulation, it was confirmed that most of substituted F was mainly coordinated to Na+ ions but not Si4+ions. These results were consistent with the mechanism in which F associated with otherwise network-modifying Na rather than with network-forming Si. Since F was associated to Na+ ions, the replace of O ion by two F ions promote the polymerization of silicate melts. Keywords: fluorine; molten flux; slag structure; molecular dynamics simulation; Raman spectroscopy.

Jan 1, 2004

By M. Abdellatif

Keywords: Pyrometallurgy, furnace, DC arc furnace, smelting, silicon The technical feasibility of silicon smelting in a DC arc furnace was investigated. A graphite-lined furnace was operated at power levels of 150 to 160 kW, and 40 to 60 V. The average feed rate during the silicon production period was about 30 kg/h. The recipe consisted of pre-mixed batches of 28% petroleum coke and 72% lumpy silica. The target furnace operating temperature was set at 1600°C and then raised to 1700°C. In total, about 1.6 tons of premixed feed materials was processed over 16 feeding?tapping operations. The feed was manually charged into the furnace in sub-batches of 10 to 40 kg at a time. The total batch mass was set at 90 kg during the initial part of the testwork, and increased to about 120 kg for the rest of the campaign.

Jan 1, 2011

By Z. Zhang, J. Niu, H. Wang, Y. Xu, J. Shi

Tribo-electrostatic separation is a promising method for effectively utiliing low-grade magnesite resources by removing quartz and improving the grade of magnesite. To determine the chargeto- mass ratios of pure magnesite and quartz, a triboelectric measurement system was employed, and a laboratory tribo-electrostatic separation system was used to separate low-grade magnesite. The results showed that the maximum difference in charge-to-mass ratio between pure magnesite and quartz particles was observed after friction with polyvinyl chloride. The grade and recovery of magnesite increased with temperature and initially increased with increasing voltage, feed rate, and air flowrate before gradually decreasing. The optimal conditions resulted in a concentrate with 46.91% MgO content and 77.36% recovery, while the quartz content decreased from 7.02% to 1.95%. These experimental results demonstrate the effectiveness and potential of tribo-electrostatic separation in removing quartz and upgrading magnesite.

Apr 14, 2024

By N. Hadebe, A. Mampuru, F. Jantjies

Mintek conducted test work to study the effect of media wear when using Mintek’s Milling-in-raffinate technology. The grinding media consisted of high-chrome and ceramic balls. The tests were conducted using a laboratory 5L 316 stainless-steel rubber-lined mill. Magotteaux supplied the high-chrome and ceramic balls. The raffinate was synthetically prepared using a typical Cu/Co (2.2 g/L Cu, 3 g/L Co) composition. The milling rate, media wear, mill, leach extraction efficiencies, gangue acid consumption, and residence time were studied. The tests indicated that the high-chrome balls had a higher corrosion rate than the ceramic balls. The ceramic corrosion rate was lower than 0.1 mm/y. The highchrome balls performed better during the leach stages with faster milling time, higher leaching efficiencies for both Cu and Co, lower gangue-acid consumption, and lower residence time

Jan 1, 2023

By C. Norden

The purpose of this article is to show how a representative overall equipment effectiveness (OEE) measurement can be calculated for an underground coal mining bord and pillar batch process. The calculation method, the typical losses (which include planned and unplanned availability losses, coal quality losses, and process rate losses) and the underlying logic are presented and discussed. It is argued that the current traditional underground bord and pillar mining process can currently provide a maximum theoretical OEE of only 49 per cent, while a realistic benchmark target should be in the order of 37 per cent, which relates to an average of 2400 t per shift or 1.2 Mt/a. In addition, it is argued that the current bord and pillar process is the current bottleneck to further improvement past the 2400 t per shift benchmark, and that fundamental process changes will be required to eliminate this bottleneck.

Jan 1, 2012

By G. A. Georgalli

A control philosophy to be applied by Lonmin to maintain constant electrode immersion in their no. 1 circular smelting furnace is put forward. This control philosophy is facilitated though a combination of thermodynamic models used to predict the slag composition and empirical correlations to estimate the furnace geometric factor as well as the slag conductivity. The model can determine the operating resistance set point required in order to maintain a desired electrode immersion as a function of the feeds to the furnace, slag level and temperature. If modifying the resistance set point cannot maintain the desired immersion without moving out of the furnace P-V-I operating envelope, the model can be used to determine the amount of slag modifiers (silica or lime) required to shift the slag chemistry back into a region where the immersion can be controlled though resistance set point manipulation.

Jan 1, 2008

By M. H. Moys, J. Engelbrecht, N. Terblanche

Interface levels in flotation columns are generally measured with the aid of a pressure-sensitive Instrument, e.g. a differential-pressure cell. This paper criticizes the use of this type of measurement, and discusses other methods that are claimed to give more accurate measures of interface levels. The paper focuses on the development of methods based on the measurement of conductivity across the froth-slurry interface. These are often sabotaged by variations in the conductivity of the feed slurry, particularly when the pH of the slurry IS being controlled, e.g. In sulphide flotation. Methods of improving the accuracy and reliability of this technique are described. The result IS a robust, easy-to maintain level-control scheme that successfully rejects large disturbances in plant operation (including a 5:1 change in slurry conductivity) while controlling levels to an accuracy of I 4 cm.

Jan 1, 1992

By G. Peinaar

Superhardening is a new development by which a substantial increase in hardenability above the normal can be achieved in Iow-alloy steels. This paper concerns the reversible temper-embrittlement behaviour of steels with a superhardenability characteristic. Steels of type BS 530A40 with manganese modifications varying from 0,72 to 1,27 per cent in the superhardenable and conventional condition were compared. It was concluded that superhardenability in itself does not affect the susceptibility of a particular steel to temper embrittlement. However, an increase in manganese content, which was intended to increase the base hardenability of the steel, caused serious deterioration of the temper-embrittlement properties. As the use of manganese, chromium, and nickel to increase base hardenability results in an increase in susceptibility to temper embrittlement, it is suggested that this effect should be countered by the addition of 0,2 to 0,3 per cent molybdenum.

Jan 1, 1984

By P. V. Scheers

A rotating-cylinder electrode (RCE) was used to simulate the effect of flow velocity on pipe corrosion. A comparison is made between the electrochemical measurements obtained and those measured with a laboratory-scale flow loop. There is good general agreement if the speed of rotation of the RCE is adjusted to give the same value of mass transfer Coefficient as in the other system. Hence, it appears that the RCE is well suited to simulate actual flow conditions in pipes. The simultaneous effect of flow velocity and pH value on the corrosion rate of mild steel in a synthetic mine water was investigated. The i1nrease of corrosion rate was found to be more pronounced at lower pH values and, apart from a sharp increase below pH 4, the initial corrosion rate also increased at pH 7 and 6.

Jan 1, 1992

The South African Institute of Mining and Metallurgy mourns the passing of one of its most distinguished sons. Professor J. de V. Lambrechts died at Franschoek on 30th January, 1988, at the age of 76 years after a long illness. Mintek Application Reports A new series of Mintek reports made its appearance in 1987. These are Application Reports, which present an overall perspective of each of Mintek's technical thrusts to ensure that the existing expertise can continue to be readily accessed. The successful development of an industrial process for the recovery of platinum-group metals from the UG-2 Reef. Application Report no. 1. 1987. 16 pp. The development and implementation of a computer control strategy for conventional milling circuits. Application Report no. 2, 1987. 15 pp. The development of an integrated carbon-in-pulp process for South African conditions. Application Report no. 3. 1987. 17 pp.

Jan 1, 1988

1. Book reviews ? Second International Conference on Hydrocyclones. Cranfield (Bedford, MK43 OAT, England), BHRA Fluid Engineering Centre, 1984. £33. Reviewer: R.P. King This volume contains the 28 papers presented at the Second International Conference on Hydrocyclones, which was held in Bath (England) in September 1984. The format and presentation of the papers are similar to those of the first volume in the series, and this volume con¬tinues the series as an authoritative account of much of the research work associated with hydrocyclones that is being undertaken throughout the world. The volume was produced from camera-ready copy supplied by the authors, but the quality of reproduction is very high and both text and figures are legible throughout the volume. Although most of the work reported deals with the hydrocyclone as a classification device, important sections are devoted to liquid-liquid separations and heavy¬medium separations.

Jan 1, 1985

By J. D. Flint

A description is given of the extraction of pillars in a seam of coal which normally varies in thickness from 10 feet to 14 feet using conventional trackless mechanised units. By using the pocket and fender method of pillar extraction, the high capital cost of hydraulic supports is eliminated, and a volumetric extraction of 85% to 90% of the seam of coal is possible. This method of mining opens up the possibility of extracting vast tonnages of coal which hitherto would have been left in situ as pillars. The major benefits likely to accrue from this technique are seen as follows: 1. Greater volumetric extraction of the seam; 2. Longer panel life with less frequent transferring of sections; 3. Preservation of our natural resources. The authors deal with the history of this development at Springfield Colliery, discuss the present results and outline the future trends in the light of current experience.

By J. H. van Dalen, P. J. Brandt, F. W. Wessels

A maximum of ten process streams (Merrill barren solutions) can be monitored sequentially with this on-line analyser, and gold concentrations as Iow as 0,005 mg/I can be determined. The design is a further development of the Tell-tale analyser constructed by the Corner House Laboratories during the period 1965-69. The barren solution is preconcentrated automatically by solvent extraction, the solvent being a solution of I per cent Aliquat 336 in di-isobutyl ketone. An aqueous-to-solvent ratio of 40: I is maintained. The extracted gold in the organic phase is determined by flame atomic absorption, each analysis taking approximately II minutes. The long-term reproducibility of the absorbance readings over a 24-hour period of repetitive sampling of four simulated process streams varied from 6,9 to 4,1 per cent relative standard deviation for gold concentrations of 0,0 I to 0,05 mg/I.

Jan 1, 1980

By I. M. MacGregor

This paper discusses the possible use of petrological data and proximate analyses in the prediction of cutting forces for coal. It is restricted to the development of univariate predictors based on data from thirteen collieries in five major Transvaal and Orange Free State coalfields and three coal provinces. The aim of the work was the identification and development of the best predictors of mean peak cutting force and Hardgrove grindability index from among the independent variables evaluated. The data, which were obtained by use of the penetrometer developed by the Chamber of Mines Research Organization, were processed according to the SPSS computer package. The analysis revealed reasonable correlations between the Hardgrove grindability index and (1) the volatiles and vitrinite content in the Vereeniging-Sasolburg and South Rand Coalfields, (2) the contents of vitrinite, vitrinite plus exinite, and minerals plus inertinite in the Eastern Transvaal Coalfield.

Jan 1, 1985

By D. R. Tesarik, F. M. Jones, J. B. Seymour

As part of safety and stability studies at three underground mines in the United States, researchers installed earth pressure cells and embedment strain gauges in cemented rockfill to measure stress and strain changes as mining progressed and the rockfill was loaded. Data from these instruments were used to calculate the in situ modulus of the rockfill for two of the mines. A three-dimensional numerical model of a cemented rockfill cap was validated with data from extensometers anchored in the mine roof and sill; this model was then used to estimate deformation modulus at the third mine because the earth pressure cells and embedment strain gauges recorded negligible changes. Rockfill binder used at these mines ranged from 4 to 8 per cent of the dry components by weight, the water-to-cement ratio was from 0.42 to1.0, and the largest aggregate size in the three mixes ranged from 5 to12 cm (2 to 4.7 in). The range of the calculated in situ deformation modulus values was large, but as expected, it was bracketed by modulus values for cemented tailings and roller-compacted concrete with similar cement contents and water-to-cement ratios. Dans le cadre d’études sur la sécurité et la stabilité de trois mines souterraines situées aux États-Unis, les chercheurs ont installé des palpeurs de pression des terres et des extensomètres d’encastrement dans les remblais cimentés afin de mesurer les variations relatives à l’effort et à la déformation des terrains durant l’exploitation minière et le chargement du remblai. Les données recueillies à l’aide de ces instruments ont servi au calcul du module in situ du remblai dans deux de ces mines. Le modèle numérique tridimensionnel de la semelle d’un remblai cimenté a été validé à partir des données recueillies par les extensomètres ancrés dans la voûte et dans la semelle de ces mines; ce modèle a ensuite été utilisé pour estimer le module de déformation à la troisième mine, étant donné que les palpeurs de pression des terres et les tensiomètres enfouis avaient relevés des variations négligeables. La matière d’agrégation de l’enrochement utilisée dans ces mines comportait entre 4 % et 8 % des composantes sèches par poids; le rapport eau-ciment se situait entre 0,42 et 1,0; et la taille des agrégats les plus gros dans ces trois mélanges était de 5 cm à 12 cm (2 po à 4,7 po). L’écart entre les valeurs calculées des modules de déformation in situ était grand, mais comme on s’y attendait, cet écart a été compensé par les valeurs modulaires des résidus cimentés et du béton tassé au rouleau avec des teneurs en ciment et des rapports eau-ciment semblables. Als Teil der Sicherheits- und Stabilitätsstudien an drei Bergwerken in den Vereinigten Staaten von Amerika installierten Forscher Erddruckgeber und Einbindungsdehnungsmesser in zementierter Steinschüttung, um Spannungs- und Dehnungsveränderungen während der fortlaufenden Bergarbeiten und der Belastung der Steinschüttung zu messen. Daten von diesen Instrumenten wurden dazu verwendet, das In-Situ-Modul der Steinschüt-ung für zwei Gruben zu berechnen. Ein dreidimensionales numerisches Modell einer zementierten Steinschüttungsschwelle wurde mit den Daten von den im Grubendach und in der Schwelle verankerten Extensometern validiert; dieses Modell wurde dann dazu eingesetzt, um das Deformationsmodul in der dritten Grube zu schätzen, da die Erddruckgeber und Einbindungsdehnungsmesser nur geringfügige Messabweichungen feststellten. Das in diesen Gruben verwendete Steinschüttungsbindemittel variierte zwischen vier und acht Prozent an Trockenkomponenten nach Gewicht, der Wasser-Zementfaktor betrug zwischen 0,42 und 1,0 und die größte Zuschlagstoff-größe in den drei Mischungen schwankte zwischen fünf und zwölf Zentimetern. Die Reichweite der berechneten Werte des In-Situ-Deformationsmoduls fiel etwas breit aus, aber es fand erwartungsgemäß eine Klammerung der Modulwerte zwischen den Zemen-trückständen und dem durch Walzen verdichteten Beton mit ähnlichem Zementanteil und Wasser-Zementfaktor statt.

Jan 1, 2003

By G. D. Buson

Driefontein Consolidated Limited has a proud history in the South African gold mining industry dating back to March 1945 with the formation of the West Driefontein Gold Mining Company. The reclamation gold plant at West Driefontein was originally built as a uranium recovery plant in 1970. With the collapse of the uranium oxide yellow cake market, the uranium plant was closed in 1988and successfully converted into a gold plant, recovering gold from repulped tailings dams1. The West Driefontein Reclaim plant utilized milling, leaching, conventional rotary vacuum filtration and cementation to recover the gold at a rate of 200,000 dry tons per month. The No. 1 tailings dam (at a head grade of 0.8 Au g/t) began to near the end of its life during 1996, and the next slimes dams to be treated, the No. 2tailings dam (at a lower head grade of 0.56 Au g/t) was found too marginal for reprocessing using the filtration technology. Alternate technologies were investigated, particularly the carbon-in-pulp (CIP) plant based on the Anglo-American Corporation (AAC) pump-cell technology at the Vaal Reefs Exploration and Mining Company?s East gold plant which was operating profitably at lower head grades2. The AAC pump-cell technology is based on the carousel mode of operation2. The suitability of CIP technology for the West Driefontein Reclaim plant was investigated using a pilot plant pump-cell supplied by Kemix The data gathered were utilized in sizing a full scale AAC pump-cell plant. This plant was motivated, built and commissioned on the 22nd of November 1996. Incorporating 6 eighty cubic metre AAC pump-cells. The West Driefontein Reclaim plant initially treated repulped slimes dam material. A subsequent change of feed material to current arisings (from the main gold plant) occurred in1997 in order to convert mills for waste rock treatment. Currently the reclaim plant treats a combination of current arisings and waste rock (milled at the reclaim site). The new CIP plant replaced twenty-seven rotary vacuum filters. A comparison between the filters and CIP in terms of operating costs was undertaken, as well as a performance analysis of the CIP plant to determine its flexibility in terms of variation of the throughput, pulp density, gold input, leaching efficiency prior to CIP, and the rate of carbon movement.

Jan 1, 1999

In constructing a financial model of a project significant effort is expended on capital and operating cost estimation, commodity price forecasts, and choice of discount rates while uncertainty in the primary input, the reserve, is often completely overlooked. The aim of this paper is to highlight the impact of uncertainty in the resource/reserve estimation process on the assessment of the financial performance of a project. Four qualitative processes have an impact on resource/reserve uncertainty. These stages are: 1.Ore definition 2.Geological interpretation 3.Resource estimation 4.Ore reserve estimation and mine planning. Each stage contains a number of tasks that may be considered as key performance activities (KPAs). Optimizing the manner in which these KPAs are completed can remove a great deal of uncertainty and error from the resource/reserve process. Examination of these KPAs within a company can also provide an insight to the quality of the information underlying the project. This will allow the company to identify any shortcomings in the data and to assess the resulting risks (Gilfillan, 1998). A hypothetical financial model based on a gold operation has been used to estimate the potential effect of resource/reserve uncertainty on revenue. Monte Carlo simulation has been employed to simulate a number of hypothetical scenarios: 1.a base case scenario which assumes no major errors or biases, but contains realistic margins for uncertainty that would exist in any project where work is being completed to the limit of best endeavours 2.a poor sampling scenario which assumes poor sampling practice and lack of understanding of sample preparation 3.a poor resource estimation scenario which assumes poor modelling and inappropriate choice of interpolation technique, and 4. a ?typical? scenario which represents a project where the majority of KPAs are not performed as best as they could be. The results show that realistic uncertainty ranges can generate changes in the estimate of potential revenue of plus or minus 30%.Therefore, it is important to allow for errors in these processes in any financial analysis or feasibility study. It is recommended that, when building a financial model, are view of relevant resource/reserve KPAs be carried out and appropriate ranges for uncertainty be applied to provide a range of potential outcomes. These outcomes can then be factored into the detailed cash flow analysis in order to ensure that technical uncertainty is built into financial decisions.

Jan 1, 1999