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Short course

VALMIN Code Reporting

Course commences 1 July 2024

20
PD Hours
Enrol now

ic_round-star.pngic_round-star.pngic_round-star.pngic_round-star.pngic_round-star.png  100% of past participants recommend this course

Short course

VALMIN Code Reporting

Course commences 1 July 2024

20
PD Hours
Enrol now

ic_round-star.pngic_round-star.pngic_round-star.pngic_round-star.pngic_round-star.png  100% of past participants recommend this course

Reporting on mineral asset technical assessment, values or potential?

Learn about the fundamentals and principles of appropriate Public Reporting of technical assessment and/or valuations of mining assets in compliance with relevant laws with an in-depth understanding of the VALMIN Code, its interpretation and appropriate application.

 

Quick facts

Duration Delivery Course Type Next Intake PD Hours Language
20 hours over
5 weeks
100% online
Short course
1 July 2024
Up to 20*
English

* PD hours recognised by AusIMM & Australian Institute of Geoscientists

 

Course overview

The VALMIN Code sets out requirements for the technical assessment and valuation of mineral assets and securities for independent expert reports and provides guidance for petroleum assets and securities. This course will provide the fundamentals and principles of appropriate Public Reporting of technical assessment and/or valuations of mining assets in compliance with relevant laws.

The course will suit professionals working on the evaluation of mining and exploration assets and who are responsible for Public Reports that will include information about the evaluation of assets or valuation of securities.

 

Australian Institute of Geoscience
Video
Interview with Louis Rozman, past Chair of the VALMIN Committee

Course pricing

A discount of 10% is available for groups of 3 or more participants from the same organisation who enrol for the same course intake in a single booking. This discount will be automatically applied at checkout.

Are you an AIG member? You’re also eligible for the member rate.
AIG or AusIMM member
$1,420
Price is inclusive of 10% GST
Enrol now
AusIMM Associate membership* and enrolment bundle
$1,666
Price is inclusive of 10% GST
Enrol now
Non-member
$1,847
Price is inclusive of 10% GST
Enrol now
Group training
Have questions around group bookings?
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VALMIN Code Reporting course overview

Deborah Lord, a geologist with 30 years’ global experience in the resources sector and Chair of the VALMIN Committee, describes who the VALMIN Code Reporting Short Course will benefit.

Video

Enrolments now open

Course commences 1 July 2024

Enrol now

Limited seats remaining!

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Showcase your studies, validate your knowledge

Verify your new skills and knowledge with a digital badge that you can add to your LinkedIn profile, email signature, intranet, or any other online account.

Your badge links to a detailed outline of the course, showcasing and validating your new skills in a format that employers and colleagues can easily access and trust. You can also choose to download a personalised certificate.

Who should attend?

Technical professionals
Those preparing technical assessments and economic studies.

Advisory and accounting groups
With valuation practices.

Company directors
Head office senior management and technical personnel with a responsibility.

Learning objectives

  • Describe a holistic view of the Code and the role it plays in the minerals industry and reporting environment
  • Interpret the Code within the context of your working environment
  • Explain the principles of how to approach mineral asset valuation
  • Recognise how to manage risks when using the Code

Course structure 

The five-week course is a collaborative, hands-on online learning experience, taking learners approximately 20 hours to complete. Please note the live sessions are not mandatory, the virtual classrooms will be recorded and available on the same day for participants who are unable to attend the live event. Course content includes:

  • Four 105-minute virtual classroom sessions
  • Pre-recorded videos featuring interviews with experts
  • Resources such as case studies, articles, associated content
  • Group discussion forums
  • Test questions

Module 1

Why the VALMIN Code?

  1. Describe why using the VALMIN Code is important
  2. Define when and how the Code is used
  3. Demonstrate how the VALMIN Code interacts with the JORC Code
  4. Demonstrate VALMIN Code interaction with other regulations
  5. Describe the roles of VALMIN Practitioners
  6. Describe who has responsibility for correct Code application
  7. Outline how the use of the VALMIN Code is governed
  8. Define the VALMIN Code principles, in particular independence and reasonableness
  9. Explain the priority of guidance and where VALMIN Code fits

Module 2

Interpretation and Application

  1. Explain the primary purpose of a VALMIN Public Report
  2. Describe the commissioning of a VALMIN Public Report
  3. Describe what a VALMIN public report is, and how it can be used
  4. Identify a VALMIN non-public report
  5. Describe how a technical assessment report (evaluation) is different from a valuation report
  6. Recognise the key elements of a VALMIN Technical Report
  7. List other Codes that are considered to have parity with the VALMIN Code, and explain why they are considered to be equivalent
  8. List the most common valuation approaches and which stages of project maturity these approaches are best suited to
  9. Explain the difference between a Technical Value and a Market Value

 

Module 3

Valuation Methodologies and Their Application

  1. Explain the basis of value in the VALMIN Code
  2. Recall the responsibility of the Practitioner with respect to Valuation Approaches and Methods
  3. Identify the most commonly applied Valuation Methods and their relationship to the Valuation Approaches
  4. Identify areas of concern and typical pitfalls in the application of Valuation Methods
  5. Describe inputs into Valuation Methods, including CAPM, JV and Kilburn Geoscientific inputs
  6. Recognise the assets that can be valued using the VALMIN Code
  7. Describe the importance of a valuation range
  8. Explain market discounts and premia

Module 4

Protections, Misconceptions and Practical Experience

  1. Explain site inspection requirements
  2. Discuss Practitioner’s record keeping obligations
  3. Explain why indemnities and declarations are important
  4. Compare an indemnity, a guarantee and a warranty
  5. Discuss common misconceptions regarding the VALMIN Code
  6. Give examples by way of practical guidance, anecdotes, experiences and case studies

Download the course brochure

VALMIN Code Reporting

Facilitators

Deborah Lord

MAusIMM
Chair of the VALMIN Committee; Principal, Valuation and Resource Management
Deborah Lord is a geologist with 30 years’ global experience in the resources sector specialising exploration and resource governance and valuation. She is an Executive Member of the VALMIN Committee and Member of the AusIMM Professional Conduct Committee. Deborah is Director and Principal of Valuation and Resource Management that specialises in mineral asset valuation and management across a range of commodities. Formerly the Head of Resource Governance for BHP, Deborah managed Mineral Resources and Ore Reserves assurance across the minerals portfolio including public reporting and regulatory compliance across multiple securities exchanges (ASX, NYSE, LSE, JSE), Competent Person training and technical input into internal audit. She has previously worked at SRK Consulting, Placer Dome and WMC Resources based in Australia, South and North America.

Sue Border

FAusIMM CP(Ret)
Director/Principal Geologist, Geos Mining
Sue has over 40 years experience in the mining industry, and has worked as a geologist in mining and exploration, as an exploration manager, university lecturer in geology and geostatistics, and as a consultant. She started and managed her own exploration consultancy, Geos Mining, which was sold in 2016, and is now their principal advisor.

Sue has used the Valmin Code since its inception, and has prepared many public independent technical reports and valuations using the Code, both as specialist and as representative specialist. She has conducted courses in China on the use of the Valmin and JORC Codes. Sue is currently a member of the AusIMM ethic committee.

Graham Jeffress

FAusIMM(CP)
Partner, Service Lead - Sustainable Mining Services, ERM
Graham is a geologist with more than 30 years’ experience in exploration and management in Australia, PNG and Indonesia, working for companies large and small, government, and in consulting. He has worked in exploration (ranging from grassroots reconnaissance through to brownfields, near-mine, and resource definition), project evaluation and mining. Graham manages ERM’s geoscience and mining engineering teams in Australia. Graham was a Federal Councillor of the Australian Institute of Geoscientists for 11 years and joined the Joint Ore Reserves Committee in 2014, where he is a member of the executive committee.

Paul Dunbar

Principal, Valuation and Resource Management
Paul is an exploration geologist with over 25 years experience with a broad corporate and technical experience along with a strong economic evaluation and financial analysis background.

Download your letter of support

Present this letter to your manager to request participation in the course

“The course has provided a great consolidation of the key aspects and importance of the VALMIN Code. I have already applied the VALMIN code as a Practitioner so found the course very useful in consolidating my understanding and reinforcing certain elements.”

Participant of February 2021 intake

“The course was very enlightening. I am now much more aware of the traps that you could fall into when signing off on the associated reports attached to the VALMIN Code."

Participant of February 2021 intake

“It was great! I have already used some of the VALMIN principles when discussing with clients, and now know 'what not to say', and 'when to disclose'. This will help me enormously in the years to come. Thank you for a great course."

Participant of February 2021 intake

Enrolments now open

Course commences 1 July 2024

Enrol now

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Frequently asked questions

The course will be run entirely online via a cloud-based Learning Management System (LMS) which can be accessed via computer, tablet or phone. Participants will simply need to have a working Internet connection and a computer, tablet or phone with sound to access the course.

The full course is estimated to take about 20 hours of learning. Participants will have access to the course platform for five weeks to complete all modules.

We aim to run two intakes each year.

At the moment, the course will only be delivered in English.

No, the course is designed for those working on the evaluation of mining and exploration assets, undertaking technical assessments that are components of economic evaluations (Scoping Studies, Pre-Feasibility Studies and Feasibility Studies) , or responsible for Public Reports that will include information about the evaluation of assets or valuation of securities should know the VALMIN Code. The VALMIN Code provides guidance on what should be included in such studies and how to prepare a Public Report that will comply with relevant laws.

Participants can earn professional development (PD) hours for undertaking the course. One contact hour of technical content is equivalent to one PD hour.

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Reporting on mineral asset technical assessment, values or potential?

Learn about the fundamentals and principles of appropriate Public Reporting of technical assessment and/or valuations of mining assets in compliance with relevant laws.

Gain an in-depth understanding of the VALMIN Code, its interpretation and appropriate application with AusIMM's VALMIN Code Reporting short course. Sign up to receive resources and insights on the VALMIN Code.

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