Competent Person Novice Competent Person Novice

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    31-Mar-2015

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<ul><li>Slide 1</li></ul> <p> Slide 2 Slide 3 Slide 4 Competent Person Novice Slide 5 Competent Person Novice Slide 6 Competent Person? Slide 7 Interviews JORC Code Experts Resource Geologists Online Survey/ Questionnaire Range of experience Range of expertise Range of commodities Range of contexts Build on Statistical Reasoning Research JORC Code Competent Persons Assessment Based on Statistical Reasoning Research Industry reality check Rasch Analysis Compete nt Persons Slide 8 A Competent Person is A mining industry professional who has a mature ability to reason across the JORC Code*, can provide a reasoned analysis of the risks in a project and is able to communicate the material risks (without exclusion) to their peers, management, the board of directors and investors (*including all respective items in Table 1) Competent Persons Slide 9 Interviews JORC Code Experts Resource Geologists Online Survey/ Questionnaire Range of experience Range of expertise Range of commodities Range of contexts Build on Statistical Reasoning Research JORC Code Competent Persons Assessment Based on Statistical Reasoning Research Industry reality check Rasch Analysis Compete nt Persons Slide 10 Person ability score Question difficulty score Question references aligned with difficulty scores Scores scaled to Logits Slide 11 Item Difficulty Reasoning LevelDescription &gt; 1.0 High Order Mining Reasoning High order consideration of mining context and estimation purpose 0.3 to 1.0 Mining Context Reasoning Connection of process to mining context -1.0 to 0.3 Process Reasoning Lower level linking of task to process &lt; -1.0 Foundation Reasoning The basics preparation knowledge in resource estimation Slide 12 Item Difficulty Reasoning LevelDescription &gt; 1.0 High Order Mining Reasoning High order consideration of mining context and estimation purpose 0.3 to 1.0 Mining Context Reasoning Connection of process to mining context -1.0 to 0.3 Process Reasoning Lower level linking of task to process &lt; -1.0 Foundation Reasoning The basics preparation knowledge in resource estimation Higher JORC Code Reasoning in line with experts expectations Lower/emerging JORC Code Reasoning levels Slide 13 JORC Code Competence Competence requires that the Public Report be based on work that is the responsibility of suitably qualified and experienced persons who are subject to an enforceable professional code of ethics. Minimum 5 years of relevant experience Member of recognised professional body Confident to defend an estimate among peers I am sufficiently competent to report under JORC Code Guidelines Slide 14 Experience in years Statistic Minimum 5 years Mining Industry Experience Minimum 5 years Estimation Experience T-Value-1.25-2.18 p-Value0.2180.008 Significance at 95% Confidence Level Not Significantly DifferentSignificantly Different Minimum of 5 years Resource Estimation experience increases JORC Code Reasoning levels Slide 15 Mining Industry Experience ~ 10 years Level T-Value-2.70 P-Value0.010* *p-value &lt; 0.05 so is significantly different from zero Less than a minimum of 10 years mining industry experience Is associated with lower levels of JORC Code Reasoning levels Slide 16 Membership of Professional Institute StatisticMembership T-Value-1.21 p-Value0.232 Significance at 95% Confidence Level Not Significantly Different Slide 17 Membership grade (Fellow or not) StatisticFellow Member T-Value1.81 p-Value0.078 Significance at 95% Confidence Level Not Significantly Different Slide 18 Chartered Professional Status StatisticChartered Professional T-Value0.42 p-Value 0.676 Significance at 95% Confidence Level Not Significantly Different Slide 19 Self Assessment Level T-Value5.42 P-Value0.000* *p-value &lt; 0.05 so is significantly different from zero Resource Geologists tend to over-estimate their own competency Slide 20 1.Number of resource estimates generated 2.Number of commodities estimated 3.Number of reconciliation studies 4.Number of commodities for which reconciliation studies have been conducted Slide 21 21 Slide 22 Resource Geologists who have conducted fewer than 15 models have not yet developed sufficient requisite JORC Code reasoning levels. Resource Geologists who have generated estimates on across fewer than 2 commodities not yet developed sufficient requisite JORC Code reasoning levels. Resource Geologists who have conducted fewer than 5 reconciliations on their own estimates not yet developed sufficient requisite JORC Code reasoning levels. Basis for 15-2-5 Criteria Slide 23 Combined Alternative Minimum Criteria 15-2-5 Criteria Slide 24 Combined Alternative Minimum 15-2-5 Criteria Level T-Value3.66 P-Value0.001* *p-value &lt; 0.05 so is significantly different from zero Resource geologists who do not meet the minimum 15-2-5 criteria, and who do not have at least 10 years mining industry experience and at least 5 years resource estimation experience, will not have developed sufficient JORC Code reasoning levels. Slide 25 Competent Person Novice Sustained practical application that includes learning from consequences of corrected errors over sufficient duration Sustained practical application that includes learning from consequences of corrected errors over sufficient duration Mineral Resource Reporting: 15-2-5 criteria 10 years mining industry experience 5 years resource estimation experience Mineral Resource Reporting: 15-2-5 criteria 10 years mining industry experience 5 years resource estimation experience Slide 26 Competent Person Novice Experiences 15-2-5 Criteria NOT met 15-2-5 Criteria met Slide 27 Competent Person Novice Experiences High JORC Code Reasoning JORC Code Reasoning 15-2-5 Criteria NOT met 15-2-5 Criteria met JORC Code Reasoning developing What is the difference in Competency Development? Slide 28 Competent Person Novice Experiences High JORC Code Reasoning JORC Code Reasoning 15-2-5 Criteria NOT met 15-2-5 Criteria met JORC Code Reasoning developing Scientific reasoning/thinking At least one semester maths/stats On site production experience (reconciliation) Stint duration sufficient to learn from the consequences of corrected mistakes Several geological styles/scenarios Peer group learning network High level of technical mentoring Courses timed with onsite supported application Slide 29 Competency Development Model Slide 30 The JORC System Slide 31 Four Vulnerabilities JORC system 1. Institute switching2. Legal vulnerability 3. Confidentiality limits firepower 4. Turnaround time (volunteer structure) Slide 32 Four Vulnerabilities JORC system 1. Institute switching2. Legal vulnerability 3. Confidentiality limits firepower 4. Turnaround time (volunteer structure) Sanctioning Process Slide 33 Key contributions to todays workshop Professional Competency and JORC Code Competency Chartered Professional and RPGeo speak to professional competency Does not imply JORC Code Competency Experience Duration measure is insufficient Applied experience Number of applications Breadth and depth Reconciliation experience Relationship between plan - action consequence Sanction Process Sanctioning processes make JORC System vulnerable Slide 34 Thank you to: Contributors (anonymous and known) to the research and their organisations who allowed them time to participate JORC, AIG and AusIMM for their ongoing interest and engagement Industry peers and friends for their encouragement PhD supervisors Dr Peter Lilly Dr Llandis Barratt-Pugh </p>