Writing Company Reports Mike Sweeny, MSc, PGeo Senior Geologist

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Writing Company Reports Mike Sweeny, MSc, PGeo Senior Geologist Powered By Docstoc
					Writing Company
     Reports
Mike Sweeny, MSc, PGeo
    Senior Geologist

   October 18th 2009
Types of Company Reports

•   Weekly Reports
•   Detailed Monthly Reports
•   Senior Executive Board Monthly Reports
•   Annual Reports
•   Budget Documents
•   Drill Proposals
•   Property Visits
•   Scoping, Pre-Feasibility and Feasibility Reports
•   NI43-101 Reports
•   Assessment Reports
•   Press Releases
•   SEDAR


                                                       2
Company Reports

• Usually internal use only
• Creating a report from your work, experience and ideas
  and recommendations, there may not anything to
  reference
• References/bibliography not always required
• Make use of internal company references and reports
• May use local/company terminology
• Not formal publications
• Be sure to get reports in on time
• Have your co-workers and managers review and
  comment before submitting
• Ask for and adopt any constructive criticism



                                                           3
Who do we write them for?

• Senior Executives (CEO, CFO, COO, VP, SVP,
  GM)
• Senior Managers (who your manager reports
  to)
• Managers (your direct manager, other divisions
  or departments)
• Co-workers (geologists, geophysicists,
  metallurgists, mineralogists)
• Engineers (mining or otherwise)
• Government agencies (MNDM)



                                                   4
Know your audience

• A key issue with reporting is that it often tries
  to be all things to all people. Those receiving
  the report may have vastly different needs
  depending on their role in the organization.
  When reporting it is important to know who is
  your primary audience to focus on topic areas
  and the level of detail suitable for them. Others
  may be copied on the report but they are not
  to whom the report is directed. If specific
  reporting requirements exist for others then
  they must be addressed separately.



                                                      5
 Audience




•The primary audience for the reports listed above, are interested in
  outcomes against plan, as this is the basis for the business case.
                                                                        6
Writing Style

Keep it simple
• Remember the audience for the report does not
  have intimate knowledge of the project or the
  appropriate technical background to
  understand certain content.
• Avoid jargon, technical explanations and
  unannounced abbreviations. TLA’s are not
  always welcome.
• Use short sentences with one idea per
  sentence; try for a maximum of 21 words.
• Use plain English – see handout

                                                  7
Keep it short and concise


• Reporting is not meant to be a list of those
  activities worked on during the period.
  Activities and progress must be communicated
  in the context of delivery against plan. Were
  the activities planned to be started; started?
  Were the activities planned to be completed;
  completed?
• Where performance is not met, describe the
  actions (at an appropriate level of detail for the
  audience) to recover to the plan. If plan is not
  able to be met, what are the implications for
  the business case?


                                                       8
Simplicity
Don’t use these words              When you mean these
Anticipate                         expect
Ascertain                          learn
cognizant                          aware
commensurate with                  equal to
consummate                         bring about
deem                               think
determine                          ask, learn, inquire
discrepancy                        difference
disseminate                        spread
likewise                           and
locality                           place
major                              main, important
preclude                           prevent
practically                        almost, nearly
percentage, proportion, fraction   few, some, many
require                            want, need
verification                       proof
visualize                          imagine or picture




                                                         9
Clarity and Conciseness

•Clarify writing by cutting away deadwood. Don’t subject your
readers to pretentious, flabby prose. Convey your message in
direct, specific terms.
•Replace the showy phrases in the first column with the plain,
concise terms in the second. Many words in the first column have
legitimate uses; however, when overused, they make reading
Showy                            Plain
along the lines of               like

and so on                        (leave out)

anticipate                       expect

apparent                         clear, plain

appreciable                      many

as a means of                    to

ascertain                        find out, learn

at all times                     always

at the conclusion of             after

at the point in time             then

at the present time              now

at this point in time            now
                                                                   10
Clarity and Conciseness


Showy                        Plain
adjacent to                  next to
advantageous                 helpful
cease                        stop
commence or initiate         start or begin
comprehensive                full
concerning the matter of     about
constitutes                  is, forms, makes up
contribute                   give
cooperate                    help
costs the sum of             costs
delete                       cut, drop
depart                       leave
due to the fact that         due to, because
during the course of         during
evident                      clear
for the month of June        for June
for the period of a week     for a week
for the simple reason that   because


                                                   11
Showy vs Simple
Showy                         Plain
in addition                   also, besides
in an effort to               to
in order to                   to
in regard to                  about
in terms of                   in
in this day and age           today
in view of the fact that      since
inception                     start, beginning
limited                       few or small
locate                        find
owing to the fact that        because
purchase                      buy
reason for                    why
regardless of the fact that   although
selection                     choice
time period                   (use either one, but not both)
transmit                      sent
until such time as            until
viable                        workable
with reference to             about
                                                               12
Tables and Charts


• Tables and charts are a useful mechanism to
  communicate information using fewer words. Charts are
  particularly useful for showing trends to indicate if
  performance is improving or deteriorating. If a table or
  chart is included it should either be annotated or a
  paragraph included to interpret the information. The
  reader is then able to understand what is being
  presented. Otherwise they are free to draw their own
  conclusions.
• Every company will have their own requirements for
  charts and tables usually driven by the person reading
  the report. This allows comparison between all divisions
  within the company.




                                                             13
Numbers are consistent



• When presenting any statistics, budgets,
  intersections, incurred and forecast values for
  monthly reports ensure that the values for all
  reports are the same.
• Ensure that you refer back to any original
  document for consistent numbers. Confirm
  any numbers you are unsure of. If there is a
  change in a number include an explanation for
  the change (varying exchange rates)
• Use consistent format for numbers (including
  commas, significant digits, decimal places,
  currency $CAN or $US)


                                                    14
Consistency of content between
reports

• What is presented in the current report should
  make sense to a reader who might compare
  previous reports. If an event occurs during the
  reporting period which negates what was last
  reported then it requires explanation. For
  example, if progress is reassessed and causes
  a negative progress curve adjustment it
  requires an explanation of what happened and
  why.
• Regular reporting is about delivering a single
  consistent message, a report at a time.



                                                    15
Examples of Reports




         Project Status Report
                                 16
Weekly Reports from Geologist (for
other geos in office, due noon on Fri)
Sustainable Development
• No major issues. Drill inspection to be completed this weekend due to the drill
   move.
• Range (Big Lake Area)
• KRP-079 (1967m, EOH in FGN, Target depth 1700m) Hole KRP-079 intersected an
   estimated 1.1% Ni / 0.5m from 1756.7m-1757.2m within a 12m interval of weakly
   mineralized Gabbro Breccia. Hole KRP-079 targeted the southern extent of the
   KRP-075 mineralization (2.57% Ni / 11.1m). Although the intersected
   mineralization is shorter than expected, it is located at a step-out distance of
   236m down-plunge from the KRP-075 intersection (150m horizontal and 190m
   vertical distance) and demonstrates the continuity of the horizon. A UTEM survey
   was done this week showing two discrete conductors. The first conductor is a
   100mx360m 2,000S decaying offhole anomaly west of the hole. This conductor
   was also seen in the UTEM surveys for KRP-075 and KRP-057. The second
   conductor is a 40mx150m 3,000S inhole/offhole anomaly which represents the
   continuation of the KRP-071 mineralization to KRP-079. Follow-up drilling is
   planned for the 100mx360m 2,000S decaying offhole anomaly with KRP-080. After
   the completion of KRP-080 a wedge cut is planned to test the second 40mx150m
   3,000S inhole/offhole anomaly.
• KRP-080 (0m, Casing, Target depth 1600m) Hole KRP-080 targets the
   100mx360m 2,000S decaying offhole anomaly located 40m west of KRP-079, 70m
   west of KRP-075, and 50m west of KRP-057. Also, this anomaly is seen in the N-
   057, KRP-075, and KRP-079 UTEM surveys and remains untested. The anomaly
   lies down-dip of 13.58% / 0.70m and 13.59% Ni / 3.1m (incl. 23.8% Ni / 0.80m)
   intersected in KRP-057 and has the potential to host a new mineralized system
   parallel to the KRP-071 trend.
• The Range program is behind schedule with respect to drilling because of the
   UTEM survey and the drill move, and on budget for the week.


                                                                                      17
Blackberry Version of Weekly Report (goes to
GM of Operations and Geology in Toronto, Friday
COB)
•   Incident reported Oct 5, on the Range involving 6-wheel ATV backing into an
    abandoned sump obstructed by vegetation. The machine tipped backwards
    resting on the rear cargo frame pointing skywards. The operator had jumped
    clear and there were no resulting injuries or equipment damage. Met with team
    and reviewed procedures for post drill site inspections, in particular following up
    to ensure sumps are filled in and reminded team to always check your route
    when backing up in any vehicle.
•   6 drills were active, 1 in the KRP-7 Area and 1 ~30km km SW of the Big Mill,
    also 3 underground at the Big Mine.
•   Two holes were completed this week with no additional mineralization
    encountered.
•   KRP-07 Area, Drill 1 (KRP-079) targeting a 236m step out south of KRP-75
    (1.11% / 11.1m), was completed at 1967m in barren footwall. Geophysics
    indicates 2 discrete anomalies one coincident with the intersected mineralization
    (est. 1.0%Ni/0.5m) and confirming continuity north towards KRP-75. The second
    anomaly is a large hanging wall conductor located up dip of the KRP-07 trend.
    This is a significant new conductor and may represent a new zone of potential
    mineralization that parallels the KRP-07 trend. This is an excellent target that
    could help deliver our >25MT at ~>11.5% Ni Eq threshold. A new hole is
    currently setting up to test this target at a vertical depth of 1500m below surface.
•   “Big Hope” area, Drill 2 (KRP-161) was completed at 813m in barren footwall.
    RIM surveys are in progress to help identify potential areas of thicker, higher
    grade mineralization within the main mineralized zone. Access agreement with
    The One has been completed and the drill is now moving 4.3km to the northeast
    to follow-up on a previously identified geophysical anomaly. Will test for stand
    alone shallow rampable mineralization in this area.

• This is circulated to all geos in the office as well as compiled
  details version from each geo.
                                                                                           18
Monthly Report from Geologist


• Detailed report with specific hole information,
  more diagrams, individual metrics (consistent
  table format). Template provided to
  geologists. Due to Senior Geologist by 8am,
  4th day of the month.



• Example of Monthly Report




                                                    19
Monthly Board Report


• Report goes to CEO in Toronto (due 8am 5th
  day)
• Do not include local terms, specific hole
  numbers or unnecessary details
• He will have about 2-5 minutes to read the
  board report (and there will be another 4 from
  other divisions)
• High level report, needs to pass “is this critical
  to my job as CEO and should I be really excited
  at this time?”

• Link to Board Report

                                                       20
Monthend Highlights Report

• Audience: GM of Geology, Manager, Regional
  Geologist, other geology office management,
  also goes to CEO and VP’s (but not primary
  audience) due COB (close of business) on the
  5th day of the month.
• Compiled from individual project monthend
  reports.
• Includes office metrics and results

• Link to highlights report



                                                 21
Annual Reports
• Usually due end of January in the new year.
• Require individual project reports that are
  compiled into a highlights and a full annual
  report.
• Detailed Template provided from GM geology
  for consistency between offices
• Template
• Project Report Highlights
• Annual Report Highlights
• Project Annual Report
• Annual Report Final



                                                 22
Drillhole Proposal

• Require documentation from geologists for new
  holes being proposed.
• Report is a record of why we drilled the hole
  and is used to review the specifics before
  proceeding.

• Link to Template




                                                  23
Parts of Reports

Most reports have some or all of the following parts:
   •   Title Page
   •   Abstract/ Executive Summary
   •   Table of Contents
   •   Introduction
   •   Discussion
   •   Charts/ Tables
   •   Conclusions & Recommendations
   •   Appendices
Companies and organizations have their own particular
  format for reports, so it is always a good idea to check
  with the person you are submitting the report to before
  you finalize your format. Request a template if possible.



                                                              24
Scoping, Pre-Feasibility and Feasibility
Reports

• Detailed reports covering many topics related
  to the potential economic development of a
  project.
• Require a lot of input (from engineers) and
  much review.
• Example Executive Summary
• Example of Geological Section




                                                  25
NI-43101 Technical Report

• Very specific requirements as outlined in the guidelines.
  Covers a large amount of information and involves all
  parts of the company.
• The objective of the technical report is to provide a
  summary of scientific and technical information
  concerning mineral exploration, development and
  production activities on a mineral property that is
  material to an issuer.
• This Form sets out specific requirements for the
  preparation and contents of a technical report.

• Link to requirements

• Link to actual report



                                                              26
Assessment Reports

• Required to submit reports of work completed
  on mining claims in order to maintain them in
  good standing.
• Specific requirements provided from MNDM
  regarding preparing assessment reports.
• It is crucial that you double check your reports
  for completeness as a mistake could result in
  the loss of claims.
• Link to details
• Link to example



                                                     27
Press Releases


• Major companies generally have public
  relations staff that write press releases and are
  not common.
• Junior companies write press releases when
  required by disclosure rules and they need to
  be read with a grain of salt.
• Require disclaimers
• Example of Junior Press Release




                                                      28
Last Word


• Reports are an excellent way to inform others
  within your organization of your progress,
  successes and issues.
• Reports provide a backup for future use and
  reference.
• Reports are required by management
• Reports justify the money you are spending
  and ensure you will receive more
• Reports help organize your thinking in a logical
  manner.
• Reports can be fun when the results are good!
• Engineers are people too (but not geologists!)

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