Getting it right is a very profitable outcome. Shareholders would ideally
like to see their directors get it right all the time on the major economic
decisions. But it is very difficult for mining directors to get it right all the
time in such an uncertain environment. Primary decision-makers of
companies with significant stakes in the mining industry should get it
right much more frequently. The legal measures of evidence (beyond
reasonable doubt and on the balance of probabilities) can be used to
determine whether grade estimates (a key revenue variable) are realistic.
The application of this approach can be far reaching. More frequently
correct decision-making would result in more effective allocation of
limited resources (capital and labour). In turn, this would result in higher
financial returns and a more extensive mining industry.