Mineral Economic Fundamentals au by alicejenny

VIEWS: 2 PAGES: 4

									 New Course


Mineral Economic
Fundamentals
  A financial & economic bridging course for mining professionals




Expert Course Director                             A practical & comprehensive introduction to accounting
                                                   & financial decision making in the mining industry designed
                                                   to enable technically trained employees to evaluate project
                                                   investment decisions, build effective financial models
                                                   & communicate effectively with the finance professionals

                                                   Key Learning Outcomes
                                                   > No longer be at the mercy of financial jargon
James Hay                                          > Understand and interpret balance sheet and profit and loss statements
James has over 20 years’                           > Discover the distinction between cash flow and profit in mining
experience in the Australian                       > Understand the theory behind discounted cash flow analysis, NPV, IRR
resources industry as an analyst                   > Develop effective and practical financial modelling techniques
& corporate trainer & has worked
                                                   > Learn the difference between cash costs and full costs in mining
and consulted for companies
including WMC, Woodside, Placer                    > Learn how to manage for increased shareholder value
Dome & Minara Resources                            > Develop the confidence to have an effective conversation with corporate finance
                                                     and accounting staff
                                                   > Improve your career prospects by moving from being a technician to a manager




                                                                                           2012 2 Day Course Dates
           HOW TO SAVE                                        Media Partner
                                                                                           Brisbane     7–8 February
   4+ participants               8+ participants
                                                                                           Perth        1–2 March

  20%                       40%
                         up to
              see                         on-site &
              overleaf                    customised

  CALL 02 9080 4077 for on-site options




your one partner solution for training & development | www.iired.com.au/mineralfinance
About the Course                                                           About the Course Director

                                                                           James Hay
This course is specifically designed for professionals with technical                            James has over 20 years’ experience as a
training who aspire to move, or have moved, into a management                                    corporate treasury executive, financial analyst
role within the mining industry. A high level of technical expertise                             and executive trainer.
is no longer sufficient for superior management performance.
                                                                                             James has held roles in risk management, corporate
Technical professionals who wish to succeed in management are                                finance and capital budgeting with some of Australia’s
required to develop skills beyond their core functional knowledge                            largest resource companies. More recently, he
and fully understand the finances behind informed and effective                              has established a corporate advisory and training
decision making.                                                           business providing investment appraisal and financial educational
                                                                           services to a range of corporate and institutional clients. In addition
The course begins with an introduction to accounting statements and
                                                                           to his consulting business, James is currently a visiting fellow
the key performance measures that determine a company’s financial
                                                                           at Macquarie University where he teaches resources industry
performance. The course then moves to the fundamentals of financial
                                                                           investment analysis in the Master of Applied Finance program.
theory and its practical application in the context of modelling project
investment decisions. The course is delivered in a ‘hands on’ style        Since 1998, James has been the managing director of J.L. Hay & Co.
and participants will gain firsthand experience at building flexible       Pty Ltd. He has advised on project investment decisions, business
and robust financial models.                                               planning, and asset acquisitions and divestments. His clients include
                                                                           Japan Australia LNG (MIMI), Woodside, Placer Dome, ExxonMobil,
This course does not endeavour to turn the delegates into
                                                                           and Minara Resources From 1987 to 1998, James worked for WMC
accountants – rather it will give participants the ability to converse
                                                                           Resources Ltd initially in the Corporate Treasury in Melbourne and
with their company finance personnel, know what questions to ask
                                                                           then in the Nickel, Gold and Petroleum divisions in Perth as a Senior
of their accountants and financial analysts, understand and model
                                                                           Financial Analyst.
project investment decisions, and be able to interpret and act on
the information contained in company management reports.                   Since establishing his consultancy in 1998, James has developed
                                                                           and presented numerous workshops to corporate and institutional
                                                                           clients in financial management and analysis. James holds a B.Sc.
                                                                           from Monash University in applied mathematics and earth science,
                                                                           an MBA in finance and accounting from Cornell University, and
                                                                           a BLitt(Hons) and PhD from The University of Melbourne in
Who Should Attend                                                          political science.



All those working with the mining industry who would like more
confidence with finance and economics fundamentals of mining
companies and the mining industry
                                                                                              Coal Industry &             Iron Ore Market
•   engineers and scientists                                                                Market Fundamentals            Fundamentals
•   geologists and metallurgists                                                                Masterclass                 Masterclass
•   mine managers
•   lawyers and HR professionals
•   accountants and business analysts                                          Mining Contract                                              Mineral Project
•   any technically trained manager                                             Management                                                    Economics



                                                                                 Mining Finance,
                                                                                                                                     Mining Due Diligence
                                                                             Investment & Accounting
                                                                                                                                         & Evaluation
                                                                                  Fundamentals             Mineral Economics
                                                                                                             Fundamentals




                  www.iired.com.au/mineralfinance | +61 2 9080 4050 | info@iired.com.au
2 Day Intensive Course Outline

Introduction                                                               Taxation in mining
• Course overview and objectives                                           •   Taxable income
• What financial issues are intrinsic to mining companies?                 •   Tax payable and tax paid
• What drives value in the mining industry?                                •   Investment incentives
                                                                           •   Treatment of tax losses

The financial statements of a mining company
• The balance sheet                                                            Exercise
                                                                           Modelling depreciation and taxation in excel
• The profit and loss statement
• The cash flow statement
                                                                           Building flexibility into the mine valuation model
                                                                           • Structuring an economic model
Examining mining company financial statements                              • Building in checks to avoid errors
•   Specific mining accounting issues                                      • Creating scenarios
•   Capital costs and operating expenses
•   Exploration accounting?
•   To what extent are mineral assets reflected on a balance sheet?            Exercise
•   Depreciation and depletion                                             Enhance our model so that we can switch between different assumptions
•   Provisions for remediation                                             and cases: Proved versus proved plus probable reserves, high versus
                                                                           low prices and costs


    Exercise
Review the financial statements of a listed mining company.                Inflation
What are the key measures of performance that can be taken                 • Real and nominal cash flows
from the statutory accounts?                                               • Inflation impacts on prices and costs
                                                                           • Building inflation impacts into the model

Cash versus profit
• The difference between cash flow and profit                              Project financing and cash flows to equity
• The importance of cash flow to shareholders                              • Building loan accounts into the model
• Using financial statements to forecast future cash flows                 • Cash flow to equity method of valuation



An introduction to financial theory                                            Exercise
                                                                           Complete our model by building in inflation impacts and a loan account
•   Risk versus return
•   The time value of money
•   Sources of capital
                                                                           Sensitivity analysis
•   The cost of capital
                                                                           • Risks and sensitivities
•   The capital asset pricing model
                                                                           • Simulation and Monte Carlo analysis
•   Discount rates and hurdle rates
                                                                           • Understanding and communicating risk


Valuation and decision making                                              Royalties and rent taxes
•   Net Present Value (NPV)                                                • What is economic rent?
•   Internal Rate of Return (IRR)                                          • Ad valorem royalties
•   Capital efficiency ratios                                              • Minerals resource rent taxes
•   Payback period
•   New mine valuation versus reserve acceleration economics
                                                                               Exercise
                                                                           Understanding the impacts of royalties and rent taxes
    Exercise                                                               on project economics
Building a simple mine valuation model to determine after tax cash
flows in order to understand the basic concepts of discounted cash
flow analysis                                                              Course review and summary




                       For those who are members of professional associations, our courses are eligible for Continuing Professional Development.
                       Please see your individual associations to learn how.


                                                                           Access industry intelligence from event partner Australian Journal
PARTICIPANT’S BONUS                                                        of Mining. Participants receive a FREE 3 month subscription
                                                                           www.ajmonline.com.au


                www.iired.com.au/mineralfinance | +61 2 9080 4050 | info@iired.com.au
                                             Mineral Economics & Finance Fundamentals

 LOCATION AND DATES                                                          Venue details will be confirmed with participants 2 weeks prior to the event via email
 Brisbane                          Perth
 7–8 February 2012                 1–2 March 2012
 *If the date or location are not suitable, please contact us and we will endeavour to meet your needs



3 EASY WAYS TO REGISTER                                                                                  STAY CONNECTED
          WEB                                                                                                      LinkedIn Group www.iired.com.au/linkedin
          www.iired.com.au/mineralfinance
                                                                                                                   Twitter www.twitter.com/iired
          Telephone
          +61 2 9080 4050 – Quoting P12GR28
                                                                                                                   Slide Share www.slideshare.net/IIRED
          Email
          info@iired.com.au – Quoting P12GR28                                                                      YouTube www.youtube.com/iired

                              Book & Pay on or Before the Early Bird date           Book & Pay after the Early Bird date            Book & Pay after the Late Rate date                                                                          Early Bird dates
REGISTER EaRLY
                                                                                                                                                                                                                                        Brisbane 31 Dec 2011
& SaVE OVER $330!              Price        GST         Total        SaVE        Price        GST          Total      SaVE        Price       GST         Total                            SaVE                                         Perth    20 Jan 2012


Individuals                  $2,295.00    $229.50     $2,524.50    $330.00     $2,495.00    $249.50      $2,744.50   $110.00   $2,595.00    $259.50    $2,854.50                                     –                                           Late Rate dates
                                                                                                                                                                                                                                        Brisbane 27 Jan 2012
4+ participants discount     $1,996.00    $199.60     $2,195.6      $658.9     $1,996.00    $199.60      $2,195.60   $658.90   $1,996.00    $199.60    $2,195.60                       $658.90                                          Perth    17 Feb 2012



 REGISTER ONLINE NOW FOR MINERaL EcONOMIcS & FINaNcE FuNdaMENTaLS
                         Use your QR                    course details                                    course Outline
                         Reader App on your             Course registration      8:15am                   IIR Executive Development reserves the right to alter the venue and/or instructor(s).
                         smartphone and                 Course commencement 8:30am                        The course outline/details advertised are to be used as a guide only. The outline/
                         scan this code to              Course conclusion        5:00pm                   details advertised may be changed at any time during the course delivery.
                         take you directly              Break times customised to suit
                         to the website.                participant requirements                          customised approach
                                                                                                          The course times advertised act as a guide and may change slightly depending on the
                                                                                                          depth of interactive class discussion and case analysis.
 Registration Fees Include                                                                                dress code
 Entrance to the course that you have purchased, lunch, refreshments and course                           Smart casual wear is suggested along with a jacket as room temperatures vary.
 documentation. Hotel accommodation or travel costs are not included.
                                                                                                          course Suitability
 cancellation Policy
                                                                                                          If clarification is needed for course suitability/relevance, please contact us.
 Should you be unable to attend, a substitute participant is welcome at no charge.
 Alternatively, a full refund, less an administration fee of $550 (inc. GST), will                        Privacy Policy & updating Your details
 be made for cancellations received in writing up to 2 weeks prior to the event.                          Please visit us online at www.iired.com.au/privacy for a full privacy policy. Database
 Regrettably, no refunds can be made if a participant fails to attend or cancels within                   amendments can be sent to database@iir.com.au or by calling +61 2 9080 4050
 15 days before the course. For any event cancelled by IIR, registration fees are                         asking for the database department.
 fully refundable. IIR Executive Development is not responsible for participant flights
 or accommodation if a course is cancelled.                                                               Payment Terms
                                                                                                          Full payment must be made upon receipt of the invoice and at least 10 working days
 discounts                                                                                                prior to the course. Only those participants whose fees have been paid in full will
 One discount per person applies. IIR Executive Development MUST receive payment by                       gain admittance to the course. A tax invoice and confirmation letter will be emailed
 the early bird date to claim the early bird discount. For those companies with a complex                 to the participant upon completion of a valid registration. Payment may be made
 account payable system, a credit card payment is advised to ensure your discount.                        by EFT, credit card or cheque. Credit card payments will not be accepted by email or fax
                                                                                                          and must be made via our secure credit card gateway.              A.B.N. 66 086 268 313



                    REGISTER ONLINE via our secure server at www.iired.com.au/mineralfinance
                                                                                                                                                                   New Course


                                                                                                                                   VIP Code                       Mineral Economic
                                                                                                                                                                  Fundamentals
                                                                                                                                                                    A financial & economic bridging course for mining professionals


                                                                                                                         P12GR28 WEBPDF

                                                                                                                                                                  Expert Course Director                             A practical & comprehensive introduction to accounting
                                                                                                                                                                                                                     & financial decision making in the mining industry designed
                                                                                                                                                                                                                     to enable technically trained employees to evaluate project
                                                                                                                                                                                                                     investment decisions, build effective financial models
                                                                                                                                                                                                                     & communicate effectively with the finance professionals

                                                                                                                                                                                                                     Key Learning Outcomes
                                                                                                                                                                                                                     > No longer be at the mercy of financial jargon


                                                                                                                                   Event Code                     James Hay                                          > Understand and interpret balance sheet and profit and loss statements
                                                                                                                                                                  James has over 20 years’                           > Discover the distinction between cash flow and profit in mining
                                                                                                                                                                  experience in the Australian                       > Understand the theory behind discounted cash flow analysis, NPV, IRR
                                                                                                                                                                  resources industry as an analyst                   > Develop effective and practical financial modelling techniques
                                                                                                                                                                  & corporate trainer & has worked
                                                                                                                                                                                                                     > Learn the difference between cash costs and full costs in mining
                                                                                                                                                                  and consulted for companies
                                                                                                                                                                  including WMC, Woodside, Placer                    > Learn how to manage for increased shareholder value
                                                                                                                                                                  Dome & Minara Resources                            > Develop the confidence to have an effective conversation with corporate finance
                                                                                                                                                                                                                       and accounting staff
                                                                                                                                                                                                                     > Improve your career prospects by moving from being a technician to a manager




                                                                                                                                P12GR28                              4+ participants


                                                                                                                                                                    20%
                                                                                                                                                                             HOW TO SAVE

                                                                                                                                                                                see
                                                                                                                                                                                overleaf      40%
                                                                                                                                                                                           up to
                                                                                                                                                                                                   8+ participants

                                                                                                                                                                                                            on-site &
                                                                                                                                                                                                            customised
                                                                                                                                                                                                                                Media Partner
                                                                                                                                                                                                                                                             2012 2 Day Course Dates
                                                                                                                                                                                                                                                             Brisbane
                                                                                                                                                                                                                                                             Perth
                                                                                                                                                                                                                                                                          7–8 February
                                                                                                                                                                                                                                                                          1–2 March



                                                                                                                                                                    CALL 02 9080 4077 for on-site options




                                                                                                                                                                  your one partner solution for training & development | www.iired.com.au/mineralfinance
                                                                                                                                                                                                                                                                                                         8367

								
To top