Mine Evaluation-Myth and Reality

The word "mine" means different things to different people. To a professional in the mining industry, it may mean trucks and shovels, overburden dumps, headframes, mill buildings, and the other conventional nuts and bolts that constitute an operating mine. To an environmental- ist it may mean bulldozed trees and tailings dams. To a mining engineer who has spent a significant proportion of his career in mine and prospect evaluation, it can mean a hole in the ground with a liar at the top. The liar in this case is frequently not so through design but through ignorance. The purpose of this paper is to contribute in a small way to en- lightening that ignorance. In doing so, it will foster more effective deployment of the pool of risk capital available to the industry.