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Who are competent Persons?

Who are competent Persons?. “Are you Ready for JORC 2012?” AIG 16 Sept 2013 Jacqui Coombes. Who are competent Persons?. Who are competent Persons?. Competent Person. Novice. Competent Person. Novice. Competent Person?. Competent Persons. A Competent Person is ….

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Who are competent Persons?

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  1. Who are competent Persons? “Are you Ready for JORC 2012?” AIG 16 Sept 2013 Jacqui Coombes

  2. Who are competent Persons?

  3. Who are competent Persons?

  4. Competent Person Novice

  5. Competent Person Novice

  6. Competent Person?

  7. Competent Persons

  8. A Competent Person is … Competent Persons A mining industry professional who has a mature ability to reason across the JORC Code*, can provide a reasoned analysis of the risksin a project and is able to communicate the material risks(without exclusion) to their peers, management, the board of directors and investors (*including all respective items in Table 1)

  9. Competent Persons

  10. Scores scaled to Logits Person ability score Question difficulty score Rasch Analysis Question references – aligned with difficulty scores

  11. Analysis of Items and Item Difficulty

  12. Reasoning Levels and Experts’ Expectations Higher JORC Code Reasoning in line with experts’ expectations Lower/emerging JORC Code Reasoning levels

  13. JORC CodeCompetence I am sufficiently competent to report under JORC Code Guidelines “Competence requires that the Public Report be based on work that is the responsibility of suitably qualified and experienced persons who are subject to an enforceable professional code of ethics.” • Minimum 5 years of relevant experience • Member of recognised professional body • Confident to defend an estimate among peers

  14. Experience in years … Minimum of 5 years’ Resource Estimation experience increases JORC Code Reasoning levels

  15. Mining Industry Experience ~ 10 years Less than a minimum of 10 years’ mining industry experience Is associated with lower levels of JORC Code Reasoning levels

  16. Membership of Professional Institute

  17. Membership grade (Fellow or not)

  18. Chartered Professional Status

  19. Self Assessment Resource Geologists tend to over-estimate their own competency

  20. Exposure Criteria • Number of resource estimates generated • Number of commoditiesestimated • Number of reconciliationstudies • Number of commodities for which reconciliation studies have been conducted

  21. Basis for “15-2-5” Criteria Resource Geologists who have conducted fewer than 15 models have not yet developed sufficient requisite JORC Code reasoning levels. Resource Geologists who have generated estimates on across fewer than 2 commodities not yet developed sufficient requisite JORC Code reasoning levels. Resource Geologists who have conducted fewer than 5 reconciliations on their own estimates not yet developed sufficient requisite JORC Code reasoning levels.

  22. Combined Alternative Minimum Criteria“15-2-5” Criteria

  23. Combined Alternative Minimum “15-2-5” Criteria Resource geologists who do not meet the minimum ‘15-2-5’ criteria, and who do not have at least 10 years’ mining industry experience and at least 5 years’ resource estimation experience, will not have developed sufficient JORC Code reasoning levels.

  24. Competent Person Sustained practical application that includes learning from consequences of corrected errors over sufficient duration Mineral Resource Reporting: 15-2-5 criteria 10 years’ mining industry experience 5 years’ resource estimation experience Novice

  25. Competent Person 15-2-5 Criteria NOT met 15-2-5 Criteria met Experiences Novice

  26. Competent Person What is the difference in Competency Development? High JORC Code Reasoning JORC Code Reasoning JORC Code Reasoning developing 15-2-5 Criteria NOT met 15-2-5 Criteria met Experiences Novice

  27. Scientific reasoning/thinking At least one semester maths/stats On site production experience (reconciliation) Stint duration sufficient to “learn from the consequences of corrected mistakes” Several geological styles/scenarios Peer group learning network High level of technical mentoring Courses timed with onsite supported application Competent Person High JORC Code Reasoning JORC Code Reasoning JORC Code Reasoning developing 15-2-5 Criteria NOT met 15-2-5 Criteria met Experiences Novice

  28. Competency Development Model

  29. The JORC System

  30. Four Vulnerabilities JORC system

  31. Four Vulnerabilities JORC system Sanctioning Process

  32. Key contributions to today’s workshop

  33. Thank you to: • Contributors (anonymous and known) to the research and their organisations who allowed them time to participate • JORC, AIG and AusIMM for their ongoing interest and engagement • Industry peers and friends for their encouragement • PhD supervisors • Dr Peter Lilly • Dr Llandis Barratt-Pugh

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