Resources & Reserves

all financial calculations can be no more than the transposition of the ore reserve estimate into other terms (King et al., 1986 p65)    

Your mineral resource and ore reserve estimates are the foundation for your entire business. Poor estimates (either biased or needlessly imprecise) directly affect the profitability of every mining operation. From a resource perspective, poor estimation impacts on your understanding of the location, quality and quantity of mineralisation that can potentially be extracted. From an ore reserve perspective poor estimation impacts on every economic aspect of the business from getting the size of the operation right through to correctly predicting value and cash flow. Basically, get your resource or reserve estimates even slightly wrong or failing to understand the impact of variability and the outcome could be a company breaker.

QG’s consulting team have the required expertise to act as Competent Persons for most commodities and mineral deposit styles. We don’t believe in a ‘black box’ or ‘one approach fits all’ philosophy, instead we work closely with you to identify the business critical resource and reserve issues and develop an integrated estimation, modelling and evaluation approach that ensures your needs are addressed.

All of QG’s Principal Consultants and Directors have extensive experience with resource and reserve classification under the most common classification schemes (e.g. JORC Code, SAMREC, NI 43-101, US-SEC). Our expert knowledge is based on practical experience gained in reporting and auditing estimates as well as our close ties to the Joint Ore Reserve Committee itself (John Vann was a committee member for 10 years up to 2007).

QG’s consultants have hands-on experience at a wide range of resource estimation techniques including:

Contact us for more information or to discuss your resource and reserve estimation needs.