Abstract
At the earliest stages of mining projects, it is often difficult to judge the economic potential of mineral properties. Development and application of a "quick and dirty" project evaluation tool can provide insights and guidance to allow management to prioritize exploration targets and investment decisions on early stage projects. Early identification and separation of “diamonds in the rough” from “dead horses” allows prudent allocation of scarce economic resources.
This paper will describe a simple Excel-based tool that applies modifying factors and rough mine/mill design concepts to simple tonnage/grade tables to allow the user to calculate critical costs (CapEx, OpEx, SustEx), and run a simple cash flow analysis.
This tool allows the user to assess the economic potential of mineral resource targets at the earliest stages, well in advance of detailed and expensive engineering studies and field work.