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This course is designed to teach geologists and mining related professionals the financial tools and other guidelines to effectively operate in the modern-day mineral exploration business. Evaluation of mineral projects will be discussed at all stages of the mineral supply pipeline within the broader context of proper investment decision making. This material will be augmented by corporate and industry-scale analyses.
Topics covered include:
Currency and Financing – real dollars, cost of capital, streaming and royalty arrangements.
Cash Flow and Discounted Cash Flow Metrics - -profit and margin analysis; operating margin; competitive cost position; payback period; net present value; Internal rate of return;
Sensitivity and Risk Analysis -analyzing the effects of uncertain parameters; answering 'what if' questions; trade-offs in geopolitical risk and geological quality; the probabilistic concept of risk;
Exploration Planning and Strategy - minimum acceptable exploration target conditions; lessons from exploration success and failure, finding versus acquiring ore reserves; structuring exploration agreements, major and juniors company approach to exploration.
Course Format and Delivery
The course will be delivered over a 4 and a 1/2 day intensive program integrating lectures by the course leader and group assignments for course participants. The course is structured so as to be highly applied and maximize interaction of course leaders and participants. International case studies will be used to highlight the course material and provide a highly applied approach to mineral project evaluation.
An integral part of the course is small group work whereby participants in the course are divided into smaller groups to discuss and complete assignments and industry case studies based on each segment of the course material. Each group will be responsible for presenting their assignments to the class.
While course materials and lectures will be presented in English, group presentations, discussions and questions will be in either English or Spanish.
Dr. Michael Doggett is the Principal of Doggett and Associates and President of El Olivar Imperial, a private Peruvian mineral processing company. He has over 30 years of experience in the field of mineral economics advising mining companies, governments and international agencies. He has delivered professional development programs in mineral project evaluation to more than 3,000 people in a dozen countries. Dr. Doggett is an Adjunct Professor at Queen’s University, Canada where he served as Director of the Mineral Exploration Master’s Program from 1997 to 2007. In 2002 he was the recipient of the Robert Elver Mineral Economics Award of the Canadian Institute of Mining (CIM). He has served as the Society of Economic Geologists International Exchange lecturer in 2005 and as a CIM Distinguished Lecturer in 2010-2011. The Society for Mining, Metallurgy and Exploration (SME) presented him with its Mineral Economics Award in 2019.
$1997 USD - early registration (by Friday, April 26, 2019) | $2297 USD - late registration (after Friday, April 26, 2019)
includes: (4) full
days and (1) half day, shortcourse notes, breaks and lunch daily and participation
10% discount for 5 or more participants from within the same company.
Payments accepted by cheque, wire and bank transfers, and all major credit cards.
Space is limited for all courses. Register early
to avoid disappointment.
Minimum of 12 participants required by the early
Please contact Karie Smith at email@example.com for more information....
Past Course Comments:
"Great course, great instructor and well
"Well organized and very relevant to my current
position and company strategy. Breaking down where IRR / NPVx come from
was useful to then understand how to calculate.reverse engineer grades
and tonnage needed at specific profitability."
"Spoke to many different levels of knowledge in
the room. Enjoyed how the class built from each lesson. Gave bite-size
pieces to better understand it on the whole."
"Course was very well laid out. The material was
clear and informative. Slides for the course followed the written
material very well. "
"Excellent domain of all topics with strong
academic and labor background. Material was always available and very
detailed. Course organization was easy, clear, and not a single issue at
"Good balance between (technical) mining,
business applications, finance, markets, etc"
"Great presentation, speaking and communication.
Good practical examples, and enormous depth of experience to draw upon.
Essential knowledge for anyone who is involved in the business of mining
"Dr. Doggett made a seemingly boring topic very
interesting. Looking at the course schedule beforehand was somewhat
frightening but he proved it was the opposite. Dr. Doggett is very
intelligent and can communicate complex ideas and concepts from several
"Dr. Michael Doggett is a great lecturer and
very knowledgeable of the subject matter"
"Dr. Doggett presented the course materials in a
good, easy to understand fashion and he gave relevant examples. The
course assignments were good and helped the students work through the
problems to ensure understanding"
"Even though the course is intended for those
with a technical background, as someone with a financial background and
very limited technical knowledge I found the course very useful. It
provides clarity around both basic technical and financial fundamentals,
and makes the crucial connections between the two for determining
economic viability. The instruction and organization are great, as the
material is communicated effectively and the flow was smooth."
"In my opinion, the course is well supported by
the teaching-skills and experience of Michael. He was able to
communicate a lot of empirical and theoretical knowledge to the
attendants and provided several useful examples of actual mining cases.
These points were complemented by a good course coordination in terms of
resources, materials and logistic. In particular, I liked the UBC Robson
Square as a place for conferences. "
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