It is difficult to evaluate exploration properties in a manner that is transparent, repeatable and easily re-calculated to cater for different geological interpretations, but the risk-based assessment methodology, the Geological Risk Method, developed and described by Lord et al (2001) attempts to satisfy all these criteria. This paper examines a case study example based on valuations of exploration projects conducted by SRK Consulting using this methodology, and describes some of the advantages and limitations of the method.
Morley, A, 2007. Evaluation
of exploration projects, in Proceedings Project
Evaluation 2007, pp
Australasian Institute of Mining and Metallurgy: