Mining Project Evaluations

Main Objectives

Learn about the different valuation methodologies available
Find out all about asset-based, earnings and cash-flow based and comparables-based valuation methodologies among others

Master financial modelling as a decisionmaking tool
Consider how financial modelling is used in valuations, as well as looking at discounted cash flows, the time value of money and indicators of economic viability.

Get to grips with risk assessment
Consider the various risk factors, as well as looking at feasibility studies and environmental issues

Understand mining investment fundamentals
Look at the special features of metals and mining companies and how to assess mining stocks. Look at exploration and mine development Understand the life-cycle of a mine and look at share price at various stages of development.

Who is it for?
This three part course is tailored for anyone and everyone. Whether you are a newcomer to mining or a professional with years of experience who simply wants to brush up on your knowledge, this course is for you. While we have an outline of the course material, it can and will be tailored towards your experience in mining. 

Been working as a mining engineer for long period? 
We’ll focus less on the techincal aspects of mining and more towards the financial side of it all.

Are you an investor with little mining knowledge?
We’ll get you up to speed on how mines run and the different methods before diving into the course. Whatever your specialty, we’ll make sure you leave this course with an even broader and more refined knowledge base.

Whatever your specialty, we’ll make sure you leave this course with an even broader and more refined knowledge base.

Part 1

Fundamentals
• Mining 101
• Financial statements Investment overview 
• Features of metals and mining companies
• Assessing mining stocks
• Required rates of return on investment

Exploration and Mine Development
• Mining - an exercise in risk management
• The life-cycle of a mine
• Risk vs. value and share price at various stages of development
• Resources and reserves framework
• Interrelationship between technical and financial risk

Valuation Methodologies
• Classification of valuation models
• Asset-based valuation methodologies
• Earnings and cash flow-based valuation methodologies
• Comparables-based valuation methodologies
• Other valuation methodologies

Financial modelling
• Financial modelling as a decisionmaking tool and its use in valuations
• Discounted cash flows and the time value of money
• Indicators of economic viability
• Cash flow modelling
• Investment decision: Project evaluation and capital budgeting

Part 2

Risk Assessment 1
• General
• Investment time frame
• Company identified risk factors
• Ownership – share structure, project ownership
• Corporate governance
• Management
• Guidance
• Macro-economic conditions
• Geography of principal operations

Risk assessment 2
• Balance sheet and access to capital
• Financing requirements
• External infrastructure
• Internal infrastructure
• Development stage of project
• Feasibility studies
• Mineralisation and mining technique(s)
• Mine and processing infrastructure
• Mining and processing costs
• Mine life
• Environmental issues
• Other matters of interest

Valuation of in-ground assets
• Introduction
• Order of magnitude studies
• Pre-feasibility studies
• Feasibility studies
• Inferred
• Measured and indicated
• Proven and probable

Part 3

Valuation of Mineral Projects
• Introduction
• Mine value chain
• Travels along the value curve
• Revisiting the interrelationship between technical and financial risk
• Intrinsic value of mineral projects using earnings and cash flow based valuation methodologies
• Valuation of mineral projects using comparables based valuation methodologies
• Valuation of mineral projects using asset based valuation methodologies

Valuation of mining companies
• Introduction
• Information requirements and what to look out for
• Valuation of exploration companies
• Valuation of single project companies
• Valuation of multiple project companies
• Valuation of listed entities
• Equity valuation by discounting dividends
• Enterprise value, cost of capital and Capital Asset Pricing Model (CAPM
) • Multiples based valuation methodologies
• Option valuation methodology

Shervin Teymouri, M.Eng., P. Eng.

With over a decade in the industry, Mr. Teymouri has acted as a consultant, engineer, and operations specialist as a mining engineer for base, precious, and industrial metals projects. His combined financial and mining engineering experience has strengthened his credibility to interpret, evaluate, and comment on the feasibility of mining projects, whether underground or open pit. His involvement in mine finance and strategic mine planning has focused on the maximization of mine returns and aligning mine planning with project financial objectives. Shervin has over 10+ years of experience in the mining industry. He holds at Masters of Mining Engineering and Finance. Moreover, he is an Adjunct Professor of mining engineering and a lecturer at the University of British Columbia, Faculty of Applied Science, Norman B. Keevil Institute of Mining.

We offer discounts and rebates for groups: please contact us for more details. You can contact us at [email protected] or 604-715-1313.  Our Websit is http://www.mineit.ca/. 

The course can be offered at Mineit's head office or at the client's prefered location. Please contact for more details.