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By K. E. Waters, J. E. Nesset, F. Rosenblum, J. A. Finch, S. Moon

"Some materials when exposed to various conditions can exhibit a rise in temperature without requiring an external heat source. Generally referred to as pyrophoric or self-heating substances, they challenge the safety of materials handling, storage and transportation. Reliably assessing the self-heating potential of materials is thus essential. Over the years a number of test protocols have been developed. A widely accepted method is that recommended by the United Nations to certify the safety of shipping pyrophoric goods. Our test work on sulphide materials has shown that the U.N. test can give false negatives if the sample oxidation history is not considered. Depending on the degree of oxidation (“weathering”), the same sulphide material can exhibit self-heating ranging from safe to hazardous. For concentrates, oxidation can occur during storage and transport making the sample weathering history an important consideration in the test work. To make the U.N. test, and other single-stage self-heating procedures, more reliable in assessing self-heating potential when testing sulphide materials, it is suggested that a weathering step be incorporated in the test protocol. This test work for two sulphide samples, an ore and a concentrate, demonstrates the impact of incorporating a weathering stage in the test protocol. INTRODUCTIONSelf-heating occurs when exothermic reactions produce heat faster than can be dissipated to the surroundings. Numerous substances self-heat, ranging from wood chips and powdered milk to coal and sulphide minerals (Beever & Crowhurst, 1989; Hudak, 2002). Mixtures of sulphide minerals, most notably those containing the iron sulphide pyrrhotite (Fe(1-x)S), commonly encountered in the extraction of base metals (e.g., copper, zinc, lead, and nickel), are particularly prone to self-heating (Rosenblum, Nesset, & Spira, 2001; Payant, Rosenblum, Nesset, & Finch, 2012). In the mining and subsequent processing stages, the minerals are progressively liberated and finely ground, then separated, usually by flotation, with the resulting concentrates stored and transported to smelters for metal extraction. At most of these stages the sulphides are exposed to both moisture and oxygen, conditions that promote partial sulphide oxidation and the formation of elemental sulphur. Studies have shown that pyrrhotite, in particular, readily oxidizes to form elemental sulphur (Bernier & Li, 2003; Belzile, Chen, Cai, & Li, 2004; Somot & Finch, 2010). The elemental sulphur becomes fuel for further self-heating as the temperature of the mineral mixture increases above 100 oC (Rosenblum & Spira, 1995; Somot & Finch, 2010). It is believed the propensity of pyrrhotite to self-heat is a result of its iron-deficient, and hence somewhat unstable structure. It is worth noting that pure metal sulphides (with the exception of pyrrhotite) do not exhibit appreciable self-heating. A mixture of minerals sufficiently different in their electrochemical rest potential is required to initiate self-heating at ambient temperatures (Payant et al., 2012)."

Jan 1, 2016

The Millennium deposit, located in northern Saskatchewan between the McArthur River mine and the Key Lake mill, has considerable potential for becoming an operating mine. Located in the Athabasca Basin, Millennium is blessed with both the riches and the challenges that this basin offers. The potential for ground water inflows during shaft sinking, and the unconventional challenges associated with underground uranium mining, render the successful development of a new mine in this area especially rewarding. The preliminary design and engineering of the Millennium Project has tapped into the experience of other operations in the area, and has utilized new applications of geophysics technology to enhance the understanding of the local geological structure. This discussion will focus on the innovations, and the challenges specific to uranium mining, for a deposit that is poised to be one of the next mines to supplement Saskatchewan's uranium resources.

May 1, 2008

By Shila Jafari, Mari Lundström, Aleksei Kritskii, Pia Sinisalo

A typical process adopted at nickel plant is the processing of nickel-copper mattes and converter mattes using the following technology: pressure oxidative leaching (POX), solvent extraction (SX), electrowinning (EW), cobalt recovery, and solutions purification. As a result of multi-stage atmospheric and autoclave process leaching, copper-nickel separation is achieved. Cobalt and nickel are further separated by SX. Copper in the process can be removed as copper cake (Cu-cake), which is a by-product with high content of valuable metals. In the current paper, a method combining atmospheric and pressure leaching of Cu-cake in sulfuric-acid media is discussed. Suggested method allows to obtain high copper extraction (>98%), with leach residue containing precious metals and PGMs. Sulfuric acid media was chosen to make the suggested technology adaptable for the primary POX-SX-EW circuit. The initial Cu-cake was analysed and a range of process parameters (t = 25–190°C; PO2 = 0–7 bar) investigated to achieve the optimal conditions for leaching process at the ambient as well as at increased pressure. As a result, an initial process block diagram for the treatment of Cu-cake with high copper leaching efficiency and low metal losses is provided. INTRODUCTION The conventional technology for nickel sulphide ore processing includes the following main stages: froth flotation, matte smelting and converting. The subsequent processing of nickel converter matte is possible using fundamentally different approaches - hydrometallurgical (Llanos, Queneau & Rickard, 1974; Rademan, Lorenzen & Van Deventer, 1999; Kshumaneva, Kasikov, Neradovskii & Belyaevskii, 2009; Dutrizac & Chen, 2013) and pyrometallurgical (Tsymbulov, Knyazev, Tsemekman & Golov, 2007). Hydrometallurgical approach in comparison with pyro-process has several advantages, such as reduced environmental load, reduced PGM losses, increased copper and nickel extraction. Typically, hydrometallurgical technologies include leaching, solvent extraction as well as nickel and cobalt recovery in metallic form by electrowinning or hydrogen reduction or as valuable metal salts via crystallization process (Crundwell, Moats, Ramachandran, Robinson & Davenport, 2011).

Jan 1, 2019

By D. Ibarra, J. Jacob, A. G. Guezennec, P. d’Hugues, A. Archane

The lack of adequate gas mass transfer is a rate limiting step in many bacterial leaching processes. Oxygen often becomes a limiting factor because of its low solubility compared to the high demand induced by sulfide oxidation. One way of increasing the solubility of oxygen in water or in media solution is by increasing the driving force, i.e. raising the oxygen partial pressure in the gas stream supplied to the leach pulp. The use of oxygen is a well-known practice in high-temperature bioleaching reactors (above 70°C) whereas air is usually preferred in medium and low-temperature operations in order to avoid too high dissolved oxygen concentrations which could impact negatively the bacterial activity. The purpose of this study was to investigate the use of oxygen-enriched gas in bioleaching reactors at 40°C in order to improve the gas transfer in the system when operating at high solid load (20% and more). Bioleaching experiments were performed on a sulfide-rich tailing waste (pyrite 60%, copper 0.8%, cobalt 0.06 %, gold 1 g/t) using the “BRGM-KCC” bacterial consortia. The reactor used for the tests was designed on the basis of a new bioleaching reactor concept developed by Air Liquide, Milton Roy Mixing and the BRGM which uses floating agitators to inject gases and to mix and to suspend solids in the bioleaching solution. Two types of tests were carried out: with air injection and with oxygen enriched gas mix injection. The aim of this work was to confirm the capacity of bacteria to grow and to dissolve pyrite in this type of bioreactors in oxygenrich atmosphere, and to compare sulfides dissolution rates during both types of bioleaching tests. The results obtained show that the use of oxygen enriched gas mix does not decrease bioleaching performances compared to air injection. High metal extraction yields were achieved (above 80%). No deleterious effect due to oxygen use was observed on the bacteria despite the high level of dissolved oxygen reached in oxygen tests (up to 14 mg.L-1).

Jan 1, 2016

By Fathi Habashi

A new era in pressure hydrometallurgy is marked when the roasting - leaching - electrowinning process in the zinc industry was replaced by direct pressure leaching of zinc concentrate. Since then, the technology has received recognition as the technology of the future. Large autoclaves of unprecedented size have been manufactured and installed in a number of metallurgical plants for recovering copper and nickel from their concentrates or liberating gold from its refractory ores. An attempt to recover alumina from clay using pressure technology is underway. Autoclaves lined with acid resisting bricks or with titanium clad may weigh as much as 800 tonnes were transported successfully from the manufacturing workshop to the mine site over long distances.

Jan 1, 2014

By A. Roy, T. LeBel, P. Coursol, P. Lind

At the early stage of a mining project, small amounts of concentrates are available for testwork. For gold concentrate or ores containing significant arsenic levels, batch bench scale roasting is often unreliable, leading to highly variable gold recoveries to be used in the project’s financial justifications. With an appropriate bench scale unit using continuous feeding and residence time control for solid and gas phases, reliable numbers can be obtained at small scale with only a few hundred grams per test condition. This paper describes the development of a pilot fluid bed roasting unit by Kingston Process Metallurgy Inc. (KPM) to perform representative trials on gold concentrates containing arsenopyrite, arsenian pyrite and carbonaceous components. Calcines produced under different conditions were characterised by chemical analysis and electron microprobe; the calcine microstructure obtained is described. The most important parameter affecting gold recovery is oxygen content in the roasting atmosphere, with the lowest controlled oxygen level giving the highest gold recoveries. Higher local temperatures in the bed may cause the formation of molten glassy phases which can also reduce the gold recoveries significantly. The impact of roasting conditions in the two inch fluid bed is compared with commercial results obtained in full scale operation.

Jan 1, 2014

By Catharine E. G. Farrow, David H. Watkinson

The Ni-rich Epidote Zone of the Fraser Mine at Sudbury is characterized by alteration assemblages rich in epidote, actinolite and magnetite which are roughly concentrically zoned and up to hundreds of meters in length. These zones form discrete areas within the igneous Footwall Breccia below the Sudbury Igneous Complex. The assemblages grade from epidotized Footwall Breccia matrix,through actinolite-bearing rocks with few vestiges of original Footwall Breccia textures, into the most intensely altered rock, a magnetite-rich facies. Pentlandite, pyrrhotite and pyrite are the dominant sulfdeminerals; chalcopyrite is minor. The strongest geochemical differences compared to original Footwall Breccia occur where epidote and actinolite dominate the alteration assemblage (EPDZact facies). The most intense alteration facies are typifed by low Cu/(Cu+Ni) values of <0.1. Strong positive correlations exist between Ni and Co, Cu and Au, and among Ir, Os, Ru and Rh. Chondrite-normalized Ni - PGE -Au - Cu plots display an overall increase in all elements from the least to the most intensely altered facies except for Au and Cu. As the proportion of actinolite increases in the EPDZact facies, the chondrite-normalized profles fatten considerably due to low Au and Cu contents. Abundances of Ni, Ir, Ru and Rhalmost ubiquitously increase with degree of alteration. In contrast, Cu, Zn, Ag and Au contents are low in almost all facies. It is suggested that saline hydrothermal fluids moved through the Epidote Zone formation and became more oxidized as they reacted with the Footwall Breccia and with footwall units, including ultramafic rocks. As this trend continued, magnetite-rich zones eventually developed. The occurrence of calcite locally in these magnetite-rich zones suggests that the pH of the fluid increased, causing Cu solubility to drop as activity in the hydrothermal system waned. Sudden changes in fluid composition such as this may have been due to an influx of fluid from bounding ultramafic rocks. Hydrothermal activity was focused along the margins of footwall ultramafic units. Individual hydrother-mal cells may have formed in the Footwall Breccia along pre-existing structures or sulfde concentrations. Metals may have been scavenged from sulfide-bearing Footwall Breccia and possibly Sublayer rocks. Nickel and some PGE were deposited in the Epidote Zone, whereas Cu, Au and Ag continued out-ward into the footwall where they were deposited as Cu-rich footwall veins. Copyright © 1996 Canadian Institute of Mining, Metallurgy and Petroleum.

Jan 1, 1996

By Catharine E. G. Farrow, David H. Watkinson

Abstract-The Ni-rich Epidote Zone of the Fraser Mine at Sudbury is characterized by alteration assemblages rich in epidote, actinolite and magnetite which are roughly concentrically zoned and up to hundreds of meters in length. These zones form discrete areas within the igneous Footwall Breccia below the Sudbury Igneous Complex. The assemblages grade from epidotized Footwall Breccia matrix, through actinolite-bearing rocks with few vestiges of original Footwall Breccia textures, into the most intensely altered rock, a magnetite-rich facies. Pentlandite, pyrrhotite and pyrite are the dominant sulfide minerals; chalcopyrite is minor. The strongest geochemical differences compared to original Footwall Breccia occur where epidote and actinolite dominate the alteration assemblage (EPDZact facies). The most intense alteration facies are typified by low Cu/(Cu+Ni) values of <0.1. Strong positive correlations exist between Ni and Co, Cu and Au, and among Ir, Os, Ru and Rh. Chondrite-normalized Ni - PGE - Au - Cu plots display an overall increase in all elements from the least to the most intensely altered facies except for Au and Cu. As the proportion of actinolite increases in the EPDZact facies, the chondrite-normalized profiles flatten considerably due to low Au and Cu contents. Abundances of Ni, Ir, Ru and Rh almost ubiquitously increase with degree of alteration. In contrast, Cu, Zn, Ag and Au contents are low in almost all facies. It is suggested that saline hydrothermal fluids moved through the Epidote Zone formation and became more oxidized as they reacted with the Footwall Breccia and with footwall units, including ultramafic rocks. As this trend continued, magnetite-rich zones eventually developed. The occurrence of calcite locally in these magnetite-rich zones suggests that the pH of the fluid increased, causing Cu solubility to drop as activity in the hydrothermal system waned. Sudden changes in fluid composition such as this may have been due to an influx of fluid from bounding ultramafic rocks. Hydrothermal activity was focused along the margins of footwall ultramafic units. Individual hydrothermal cells may have formed in the Footwall Breccia along pre-existing structures or sulfide concentrations. Metals may have been scavenged from sulfide-bearing Footwall Breccia and possibly Sublayer rocks. Nickel and some PGE were deposited in the Epidote Zone, whereas Cu, Au and Ag continued outward into the footwall where they were deposited as Cu-rich footwall veins.

Jan 1, 1996

By Roussos Dimitrakopoulos

Overview ?Uncertainty matters: The economic side ?Models of geological uncertainly ?Shifting the paradigm: Stochastic mine planning ?Using uncertainty to improve project performance ?Conclusions: Quantified uncertainty based models are great!

Oct 1, 2010

By Richard J. Haslinger, C. Mark Rebagliati, James L. Oliver

Abstract - Exploration at the Specogna gold deposit has identified a geological resource of 65.0 Mt grading 1.63 g/t Au, which equates to 3 million ounces of contained gold. This resource is hosted in a low-sulfidation epithermal deposit of Miocene age that is localized along the northwesterlytrending Sandspit fault. The fault has juxtaposed Late Cretaceous mudstone of the Haida Formation to the west, with Late Tertiary coarse clastic sediments and lesser andesitic volcanic rocks of the Skonun Formation to the east. A plagioclase porphyritic dacite dike intrudes the Haida mudstone and Skonun sediments along the fault. Gold mineralization, in hydrothermal breccias, veins and stockworks developed mainly in Skonun sediments and dacite. These are formed in an 800 m long zone that roughly parallels the Sandspit fault. The gold zone is funnel-shaped in cross-section, approximately 300 m wide at surface, 220 m above sea level, and narrows to approximately 50 m, at sea level. The deposit lies within an elongate zone of moderate to intense hydrothermal alteration that, at surface, extends over a known area of approximately 2 km2. Its western extent is bounded by the Sandspit fault. There is an asymmetric alteration zonation, with a core of silicic-potassic (adularia) and smectite-illite clay alteration that is bounded to the east by argillic alteration. Similar zoning defined by the distribution of metals reflects the position of the main feeder conduit. Mineralization of altered wallrock is dominated by 1% to 4% auriferous pyrite and marcasite. Gold and silver occur as electrum; individual silver minerals have not been identified. Other sulfides are rare, and are identified only microscopically. The mineral suite is typical of low-sulfidation epithermal systems. Gold occurs in early, multi-phase, variably bladed and banded quartz veins and breccias, which are cut by barren, single phase, drusy quartz veins.

Jan 1, 1998

By A. Valdivieso

Reducing accident rates keeps getting more and more complex as the usual tools enter a curve of diminishing results. Fortunately, nothing modifies behaviour in a stronger and wider way than having a robust safety culture. On the other hand, managing cultural change is difficult and the risk of back-fire is very high, especially if the workforce does not trust our intentions. A personalized approach of well chosen and targeted actions tends to be the only yet difficult option. We have found, via experience in the metallurgy and chemistry industries, a way of preparing the company and the workforce to accept these sorts of culture changing measures faster and easier. Using company-wide changes based on workplace perception, yields the most optimal acceptance. It is based in the principle that we all use clues in our environment as guides to choose our behaviour. So, controlling the perception that our workplace generates can affect behaviour and simplify our task before it even starts. It is a matter of using the tools that other disciplines such as marketing, social engineering and architecture bring to us and adapting them to a very defined objective: Having our installations “sell” safety so that our people unconsciously believe that they must adapt to safety values in order to “do well” in said environment. INTRODUCTION After decades of improvements in accident rates, we are understandably hitting a diminishing results curve: most actions that spectacularly reduced accidents in the past (e.g., Innovation in Personal Protection equipment, adapting international standards and legislation, and innovative safety programs; Figure 1) now hardly get us the exponential gains we saw years back, regardless of the investment we put on them. Furthermore, the improvements in safety of the last 3 decades have been creating new sets of issues that start to show their face such as: By reducing accidents we can create feelings of invulnerability as we lose view of the consequences. With innovative protection equipment we increase Risk Homeostasis, meaning that people behave in a more dangerous way in order to maintain a constant level of risk in their lives (Getting closer to fire after getting better fire-proof garments for example). Too much Legislation can create a feeling of disengagement from personal responsibility. And despite improvements, we haven’t really solved the production vs safety confrontation, it is now stigmatized and less visible, yet it tends to reappear in moments of weakness.

Jan 1, 2019

By D. A. Bordin, C. J. Newman, R. J. St. Eloi

"The requirements for a metallurgical acid plant treating smelter gases are both unique and demanding in terms of sulphur dioxide treatment and emission control. Since start up in 1981, the copper smelter at the Kidd Creek Division of Falconbridge Limited has undergone several major expansions. The expansion and modification of the acid plant has been an integral part of this process. Both production demands and government regulations dictate that this metallurgical acid plant be unique in terms of operating flexibility. The variable capacity to treat a wide range of sulphur dioxide concentrations, and the operating flexibility to control emissions are the topics of this paper.INTRODUCTIONThe Kidd Creek Division of Falconbridge Limitied is a base metal mining and metallurgical complex located in Timmins, Ontario. The discovery of the original copper-zinc-silver orebody was announced in April, 1964. Mining operations began in 1966 with a 9000 tonne per day concentrator coming on stream in November of that year. In April 1972, a 108 000 tonne per year zinc plant was commissioned. Over the years the facilities have been expanded, such that the concentrator now has the capacity to process 13 000 tonnes of ore per day . To expand zinc production, the world&apos;s second installation of the Cominco/Sherritt pressure leaching facility was completed in 1983 to bring total zinc production capacity to 125 000 tonnes per year. In 1973, serious planning for a smelter operation began. In early 1975, after studying both continuous smelting and flash smelting processes, a decision was made to proceed with the technology offered by Mitsubishi Metal Corporation of Japan. The Mitsubishi Continuous Smelting Process was to be used for the smelter and the Onahama No.3 tankhouse technology for the copper refinery.The smelter, which uses the Mitsubishi Continuous Smelting Process for the continuous production of blister copper from concentrate, went on line in June 1981. It has been expanded from its original capacity of 60 000 tonnes to 100 000 tonnes per year of copper.From the very early design stages for the metallurgical complex, the company had adopted a policy of constructing and operating modern plants which would meet existing and anticipated environmental standards. With this in mind, the decision was made to utilize the proven technology of fixing sulphur dioxide emissions, in the form of sulphuric acid. A 636 tonne per day single absorption contact acid plant was built to serve the zinc plant in 1972. In 1981, an 883 tonne per day double absorption contact plant was built to serve the needs of the copper smelter. The copper smelter acid plant has since been expanded to a design capacity of 1692 tonnes per day and it is the main focus of this paper."

Jan 1, 1989

By Marco Quirion

The Daniel-Johnson dam, formerly named Manicouagan-5 (Manic-5), is located 800 km northeast of Montreal (Quebec) in Canada. This is the largest multiple-arch concrete dam in the world consisting in 13 arches and 14 buttresses. Since its construction in 1969, various type of cracks have appeared on both downstream and upstream faces of almost all the arches of this concrete dam. As a part of the Daniel- Johnson’s dam safety assessment program, Hydro-Québec is currently performing structural analysis of the dam with advanced numerical models to better understand and predict the dam behaviour. Because the buttresses transmit all the arch loads to the rock mass, determination of the properties of the dam foundation should not be neglected in dam global safety analysis and also to insure that reliable input parameters are used in the dam numerical simulations. This paper summarizes the past and the more recent investigations of this foundation used to assess its safety and stability. Moreover, the use of rock mass classification to estimate the deformation modulus, based on empirical equations, gives values in the range of 30 to 40 GPa that are higher than expected values. Using those values in the numerical simulations for dam structural analysis gives an excellent correlation with displacements monitoring of the buttresses.

Jan 1, 2015

By Matt Manson

Renard?1-10 kimberlite pipes and ?Lynx-Hibou?kimberlite dyke system within ?Foxtrot?property 50/50 JV with SOQUEM, Stornoway operator 2001: Discovery of the Renard kimberlite pipes 2003: Discovery of the Lynx-Hibou kimberlite dykes 2006-2007: Bulk sample program 2008: First 43-101 Resource and Preliminary Assessment 2009/2010: Updated 43-101 Resource

May 1, 2010

To create a successful growth oriented diamond company that succeeds in the practical business of mining and selling rough diamonds, and which pursues an aggressive exploration strategy to seek and develop worldclass diamond mining opportunities in a market that has become increasingly under-supplied.

May 1, 2008

By Christian Brits, Bob Blain, Lloyd Buckingham, Juliu Stieger, Jean-Francoi Dupont

Barrick Gold Corporation (Barrick) has undertaken innovative methods of evaluating and improving the performance of grinding mills in several of its operations around the world. The results have been positive with some of the mines showing more than 20% net energy improvement leading to more than 43,000 tonnes per year reduction in CO2 emissions in four of the operations reviewed.

Jan 1, 2012

By W. H. MacLean, S. Liaghat

The Key Tuffite is a thick (0.3 m to 6 m) and laterally extensive (-10 km) cherty, sulfide-bearing tuff unit in Archean greenstones in the Matagami mining district in northwestern Quebec. It lies at the contact of the Watson Lake Group and overlying Wabassee Group volcanic rocks, and is host to major Zn-Cu volcanogenic massive sulfide deposits. The tuff component is highly altered and its volcanic precursors are not identifiable by petrographic means. The tuff is mixed with a volcanic exhalative component comprising chert, carbonate and sulfides (pyrite, pyrrhotite, and minor sphalerite and chalcopyrite). The normative mineral composition of the Key Tuffite is 33% quartz, 28% sulfides, 16% sericite, 8070 carbonate, 6% chlorite and 9% other minerals. In the vicinity of the Bell Allard and Orchan mines, the precursor tuff components are identified using immobile major and trace elements, as Watson Lake tholeiitic rhyolite (Zr/Y = 1.5 to 3.5, LaN/ybN = 1.7 to 2.8, SiO2 = 72.5 ± 1.2 wt %, and Wabassee calc-alkaline andesite (Zr/Y = 9, LaN/YbN= 4 to 8, SiO2 = 56% to 65%). Immobile element computation techniques were used to calculate mass additions and losses in the conversion of the tuff to the Key Tuffite. Average net amounts of FeP3 (27% total iron), Si02 (14%), Cao (8%), S and K2 (+ 2%), were added, Nap was removed (-2.8%), and MgO was over-all unchanged. Total net mass change was +63%, which comprises mainly exhalative additions, but also includes changes owing to hydrothermal alteration of the tuff component.

Jan 1, 1992

By John Smith

"The RTZ Corporation PLCFrom a company&apos;s point-of-view, a good investment decision is one which results in the purchase of an asset that is worth more than it costs. Thus, in order to judge the merit of an investment opportunity, it is necessary to estimate the value of the assets to be acquired.Discounted cash flow (DCF) analysis has become widely adopted by companies in assessing potential new investments. The principle is a simple one: invest in projects which have a positive net present value, and reject those which do not. However, perhaps because of its apparent simplicity, DCF analysis is frequently misused. Good practice in the use of the technique is discussed, together with several common misconceptions.Sound analysis requires sound data; thus, the valuation process relies heavily upon a wide range of specialists to provide the basic input from which cash flow forecasts can be built up. The analyst must maintain close liaison with these specialists from the outset in order to ensure that the data provided is indeed relevant and complete.IntroductionBefore turning to the main subject of this paper ""How Companies Value Properties"", it is of interest to consider first a slightly different question ""Why do Companies value Properties""? In other words, for what purposes are such valuations prepared? Certainly the commonest, and probably the most important circumstance in which a valuation is required is when the company is considering an investment opportunity. This may be the direct purchase of a property or group of properties from a third party, but could also be the opportunity to develop a new operation or expand an existing one.A very simple objective in making any kind of investment is to make our shareholders richer than they would otherwise have been. That is, to make investments whose value to shareholders exceeds the consideration required to acquire them. Thus the investment decision focusses on the difference between an asset&apos;s value and its cost.This distinction between ""value"" and ""cost"" is an important one. Study of a company&apos;s balance sheet may tell a lot about the cost of this company&apos;s assets, but very little about their value. Then again, it is sometimes argued that a business should be bought because this will result in assets being acquired for less than their replacement cost. This merely compares one cost with another, it says nothing about value."

Jan 1, 1991

By J-P. Rossetti, A. Guerin, M. Jaboyedoff, L. Baillet, A. Mariscal, J. D'Amato, D. Hantz

"The processes leading to the fall of rock compartments from rock walls are poorly known as well as their velocity. It ensues that quantitative prediction of the failure time for a rock compartment which is presently stable, is not possible by a purely geomechanical approach. However a quantitative probabilistic prediction of rockfalls at the scale of a rock wall is possible if the spatial-temporal rockfall frequency can be determined or estimated (Hantz, 2011). For a better knowledge of failure processes and frequency, rockfalls have been detected in several rock walls, using annual terrestrial laser scanning, allowing comparison of the frequencies in different geological conditions. For one of these rock walls, the spatial detection have been completed by a precise dating of the events, using a quasi-continuous photographic survey (one photo every 10 mn), allowing the study of the influence of meteorological factors.The precise dating of rockfalls has been carried out for the Saint-Eynard cliff which towers above a residential area of the town of Grenoble (French Alps). The South-East facing cliff consists in bedded limestone gently dipping North-West and located at an elevation between 850 m and 1100 m. The surveyed zone is about 750 m large and 250 m high. Between 01/02/2013 and 26/11/2013, 65 rockfalls ranging between 0.01 m3 and 20 m3, have been detected by diachronic comparison of laser scanner data and dated by comparison of photographic images. The temperature at the elevation of the cliff has been calculated from the temperature measured (every 5 mn) at a meteorological station located at an elevation of 245 m and 2.5 km away from the cliff, using a temperature gradient of 0.003°C/m (D’Amato et al., 2014). The precipitation were measured 900 m away from the cliff at an elevation of 469 m. Different meteorological conditions have been defined: (a) “freeze” qualifies days with negative mean temperature (but with a thaw period, except for two days); (b) “thaw” qualifies days with positive mean temperature, but following a freeze day; (c) “rain” qualifies days with precipitation.Table 1 shows the rockfall temporal frequency for the different meteorological conditions. It appears that the frequency is about 6 times higher the freeze days, 2.5 higher the thaw days and 3 times higher the rain days than days without freeze, thaw or rain."

Jan 1, 2015

By André Chagnon, Michel Malo, Benoît Dubé, Chantal Pelchat

"Abstract- In the southern Gaspé Appalachians, gold mineralization is spatially associated with the Acadian dextral strike-slip Grand Pabos-Restigouche fault system. Two different structurally-controlled gold prospects, the Lac Arsenault and the Saint-André-de-Ristigouche, are described to unravel the genesis of gold mineralization in this part of the Canadian Appalachians.At the Lac Arsenault gold prospect, gold mineralization consists of Au-As-Pb-Zn-Cu-(Ag) polymetallic fault-filled quartz veins with laminated textures emplaced in brittle-ductile sinistral X shear fractures. Mineralized veins are hosted by Middle Ordovician graywacke of the Arsenault Formation, belonging to the Dunnage Zone, the Early Paleozoic oceanic domain of the Appalachians. Terrigeneous rocks of the Arsenault are regionally metamorphosed at the lower greenshist facies and the mineralized veins are included in a zone of Fe-carbonate alteration.The Sb-Au-As mineralization of the Saint-André-de-Ristigouche gold prospect, in the southwestern Gaspé area, comprises extension veins in the extension direction emplaced in brittle conditions. Mineralized veins are hosted by calcilutite and laminated silty and argillaceous limestone of the Early Silurian part of the White Head Formation, which belongs to the Gaspé Belt, the Middle Paleozoic successor basin in the Gaspé Appalachians. Metamorphic grade of the White Head Formation in the southwestern Gaspé area is very low, but the gold mineralization is included in a zone of hydrothermal propylitic alteration which includes two Cu-skarn mineral occurrences. The Lac Arsenault gold prospect has many characteristics of "greenstone-hosted quartz-carbonate vein" deposits whereas the southwestern Gaspé area, which includes the Saint-André-de- Ristigouche gold prospect, shows affinities with the geological setting of sediment-hosted gold deposits (Carlin-like deposits). The two gold prospects are controlled by the Grand Pabos- Restigouche fault system but they were not emplaced at the same level in the crust. Acadian strikeslip fauting played a major role in their respective genesis in providing channelways for ore-bearing fluids. The recognition of the analogy of the geological setting of the southwestern Gaspé area with that of Carlin-like mineralization gives new ideas for exploration in the area and elsewhere in the Appalachians.Résumé - Dans le sud des Appalaches de la Gaspésie, on trouve des minéralisations aurifères spatialement associées au système de failles de coulissage dextre acadien de Grand Pabos-Restigouche. Deux indices très différents, Lac Arsenault et Saint-André-de-Ristigouche, sont décrits pour évaluer la genèse des minéralisations aurifères à contrôle structural de cette partie des Appalaches canadiennes. Au Lac Arsenault, la minéralisation aurifère comprend des veines polymétalliques à Au-As-Pb- Zn-Cu-(Ag) en remplissage de failles. Ces veines à texture laminaire se retrouvent dans des zones de cisaillement fragiles-ductiles senestres de type X. Les veines minéralisées sont encaissées dans les grauwackes d’âge Ordovicien moyen de la Formation d’Arsenault appartenant à la zone de Dunnage, le domaine océanique du Paléozoïque précoce des Appalaches canadiennes. Les roches terrigènes de l’Arsenault sont métamorphisées régionalement au faciès inférieur des schistes verts et les veines aurifères sont dans de larges zones d’altération dolomitique (Fe-carbonate).Dans le sud-ouest de la Gaspésie, la minéralisation à Sb-Au-As de Saint-André-de-Ristigouche est dans des veines d’extension comprises dans la direction d’extension et mises en place dans des conditions de déformation fragile. Les veines minéralisées sont encaissées dans les calcaires argileux et les calcilutites de la partie silurienne de la Formation de White Head qui appartient à la ceinture de Gaspé, le bassin successeur du Paléozoïque moyen des Appalaches de la Gaspésie. Le degré métamorphique des roches du White Head est très bas, mais"

Jan 1, 1998