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By Karl J. C. Harries

"14.1. INTRODUCTION1The boilerplate of an agreement is not a single provision, but a series of provisions that are expected in “every agreement”. They are sometimes also referred to as the “lawyer’s provisions”. Many businessmen consider the boilerplate to be superfluous and, to some extent, window-dressing by the lawyers – even legalese. They will often offer advice to the effect that it can “pretty well be ignored”. Such advice could not be more wrong.Most boilerplate provisions are essential parts of every agreement. Some may be part of a “standard package” and may have little relevance to the agreement at hand, but these are the exception rather than the rule. The exceptions should not be treated as justification for giving all these provisions short shrift. The boilerplate should receive the same review, consideration, and negotiation as the provisions that set forth the business deal. It is often these provisions that make the deal work or that are turned to at the time of disputes. If they are inadequate, as they sometimes are (unfortunately, some draftsmen are also loath to review or update their standard boilerplate provisions or to tailor them to the deal at hand), they can create problems, rather than offer solutions. Such problems can be costly and time-consuming for the parties to address. Inadequate or incomplete provisions may ultimately be one of the reasons for the parties to turn to the courts to settle their differences. On the other hand, good boilerplate provisions can help keep them out of the courts.One of the principal objectives of an agreement should be to provide procedures, or mechanics, for implementing agreed principles and for the parties to follow to settle their differences, real or perceived, without going to the expense and disruption of a lawsuit. An agreement should aim to keep the parties away from the courts, not serve as a springboard to the courts. It must nevertheless be acknowledged that, if there is a major falling-out among the parties to an agreement, the chances are that, however carefully the provisions of that agreement have been negotiated and drafted, the parties will end up before the courts or some other adjudicating body."

Jan 1, 2003

By I. Lackey

In 2004, Zinifex Budel Zink commenced testing with the objective to increase the precipitation of aluminium in the iron purification stage of its hydrometallurgical zinc circuit, without the use of expensive reagents. Findings from the literature applied to the leach circuit at Zinifex Budel Zink demonstrated that aluminium removal from the leach circuit could be increased by lowering the ferric concentration and acidity in the vessels where jarosite precipitation occurs. An associated increase in copper precipitation was mitigated by limiting the extent to which the ferric concentration was lowered in the vessels where jarosite forms and lowering the ratio of copper to aluminium in the solutions entering these vessels.

Jan 1, 2006

By S. Deonarain, L. S. Schultz

"This paper details the process and methodology followed to rehabilitate a rectangular ventilation shaft, situated in the Free State region of the Witwatersrand Gold Fields in South Africa. The shaft consists of seven compartments where self-mining of the sidewalls had taken place and damage to the decayed steel work in the shaft had taken place, thus limiting access down the shaft. The paper will provide some insight into the successes and challenges encountered during the project and may provide some learnings for future projects of a similar nature. INTRODUCTION The ventilation shaft forms part of the Phakisa Mine, situated in the Welkom area of the Free State province of South Africa, and is located in the Southern part of the Witwatersrand Basin, one of the world’s largest known and richest gold deposits (Figure 1).As is typical in South African gold mines situated in the Witwatersrand basin, the shaft is 1 770 metres deep (below collar). The shaft was sunk during the early 1940’s and comprised a rectangular shape with 7 compartments, used for both rock hoisting and men and material winding, respectively, with a single lift “Mary-Anne” compartment. Early in 2003, the mine decided to change the shaft from a downcast hoisting shaft to an up-cast ventilation shaft. The conveyances, ropes, winders and headgear (head frame) were removed and replaced with a high volume fan delivering 323m³/s of air at a pressure of 4.2Pa on surface. The up-cast velocity in the shaft was 6.5m/s, however this reduced significantly with the scaling of the shaft and the restrictions at shaft bottom. Although Harmony had converted the shaft from a downcast service shaft to an up-cast ventilation shaft some years back, the shaft steel work in the barrel of the shaft was left intact. Over the years, the steelwork in the shaft had decayed (rust and grime) and portions of this steelwork fell down the shaft. Concurrent with the decaying steel work, portions of the shaft lining had collapsed and it was getting progressively worse."

Jan 1, 2019

By P. J. Urso

"The coal reserves of the Crow's Nest Basin in British Columbia have been known since the late 1860's. The 51.0-million-long-ton (over 15 years) sale of low-volatile coking coal to Japanese steel mills, as finalized in 1968, establishes the importance of these coal reserves in the world markets.In the early stages of the exploration program, which began in January, 1967, emphasis was placed on deter-mining the reserve of underground low-pitch coal within the No. 10 or Balmer seam of the Kootenay coal forma-tion. The finding of low-cover reserves in excess of 100,000,000 tons altered the initially planned underground program. Extensive tests were performed, establishing the excellent coking characteristics of the open-cast Balmer coal. Due recognition was given to the ultimate reclamation costs of mined lands and associated spoil areas.t was determined that, to achieve the costs desired, a high productivity was necessary, requiring large mining equipment. Operating criteria were set out, based on producing 4.2 million tons of clean coal per year. To optimize recovery, the preparation plant feed size was fixed at Yi in. x 0. The initial basic design capacity of the plant was 1,000 tph. The washing plant is composed essentially of four separate cleaning sections: a dedusting section; a multi-stage heavy media cyclone section; water cyclones; and flotation cells. Subsequent to the basic program, additional sales were made of 6.0 million long tons over the initial three-year period and the plant capacity was raised to 1,400 tph through the addition of a 400-tph coarse-coal treatment section. All wet coal products from the fine coal plant will be dried in a 70-tph (water) heat dryer. A unit-train concept of coal transportation between the mine site and the Westward Terminals at Roberts Bank has been negotiated with the Canadian Pacific Railroad. Facilities at the port will include a 4,000-tph rotary car bumper, 400,000-ton clean-coal stockpiles, and a bucket reclaiming system having a total ship-loading capacity of 6,000 tph."

Jan 1, 1969

By K. P. Wright

THREE OF the gold mines in the Red Lake Camp operates fluid bed roasters in their milling circuits. The mines are Campbell Red Lake, Cochenour Willans, and Dickenson. The roasters are used for the autogenous roasting of a flotation concentrate for subsequent gold recovery by cyanidation. Cochenour and Dickenson operate single stage reactors, whilst Campbell use a two-stage system. Ore treated by the mines is similar in that the major part of the gold is associated with arsenopyrite. Other sulphides present are pyrite, pyrrhotite, stibnite and sphalerite. Gangue minerals are mainly quartz, with carbonates and talc. Mineralization is, for the most part, extremely fine, and there is intimate association between sulphides and quartz, so much so, th at a picked specimen of apparently massive arsenopyrite will frequently contain as much as 80 per cent gangue. Gold recovery by straight cyanidation on this type of ore would not be higher than 80 per cent and

Jan 1, 1961

By S. A. Briggs

Bioremediation has been accepted as a treatment technique for groundwater contamination in subsurface soils and shows promise for contaminated fractured rock environments. Biological growth in fractured rock is expected to occur predominantly as biofilms attach to the fracture surfaces. Biofilms in rock fractures are subject to a complex system of forces and other phenomenon due to the dynamics of the bulk fluid in which they grow. In this paper, through the applications of computational fluid dynamics (CFD) to rock fractures, where the boundaries are rough and the flow is complex, a precise analysis was conducted of the interaction of a fluid flow and the rock fracture. Specifically, hydraulic parameters and velocity profiles of an actual rock fracture were calculated and compared to a fracture of equivalent aperture. From the analysis it is clear that it is important to use more complex models such as the Lattice Boltzmann Method used is this paper to describe fracture flow.

May 1, 2009

By H. Hitchen

THE PURPOSE of this paper is to indicate the working capacity of different types of ropes for various engineering and mining duties. ROPE CONSTRUCTIONS There are approximately one hundred different designs of ropes in use today but, normally, only about ten are necessary for mining and engineering duties. The rest are designed for unusual equipments, or are different ways of combining wires of special shapes. Basically, the various designs of mining ropes consist of round, triangular, and oval strands, constructed with one or several layers of wire over a single wire, or a compound construction of sever.al wires. To suit different installations ropes are made with 3, 4, 5, or more of these types of strands over a central core, the ?co re itself being manufactured from either a fibrous material or a combination of steel wires. Nevertheless, in mining, the demand for 'locked coil rope', wl1ich may be considered as a single strand, is steadily increasing, especially for use on vertical shaft winding engines. So far as the locked coil rope is concerned, many constructions have been developed to suit different requirements, such as - in addition to winding ropes - aerial carrying Topes, shaft guide ropes and haulage ropes.

Jan 1, 1957

By Pravin Mathur

"Praxair's CoJet® technology was introduced in 1997 to effectively inject chemical energy in electric arc furnaces. Coherent jets were invented as a revolutionary means of injecting oxygen and other gases into the EAF and into converters. Today, steel makers have widely accepted this concept in over 70 EAFs worldwide. Indeed, the whole industry has shifted to this new standard for chemical energy input in EAFs. CoJet® technology has also been implemented successfully in BOF converters.This paper will review the principles of coherent jets as applied to steelmaking. The key learnings garnered from several furnaces are also reviewed. In addition, while the CoJet® program has been widely accepted worldwide, based on steady feedback received from customers and the market place, several programs are underway in development and commercialization. These enhancements and new applications of CoJet® technology are also overviewed in the paper."

Jan 1, 2004

By W. A. Dixon Edwards

Industrial mineral production in Alberta, worth $468 million in 1997, comes from a dozen types of industrial minerals, mined by about 400 producers. Cement and lime from Paleozoic limestone formations exposed along the Rocky Mountains account for the greatest production value. Sand andgravel is the primary source ofmineral aggregate. Almost two-thirds of this aggregate is consumed in the Edmonton and Calgary regions. Sulphur produced at 48 sour gas processing plants and two oil sands plants was valued at $84.8 million in 1997 and accounted for 80% ofCanadian sulphur production. Four companies solution mine the Elk Point salt beds to produce chlor-alkali chemicals, industrial salt and sodium chlorate. Natural brine is also produced as a dust control product. Al $22 million, peat moss is a major industrial mineral product in Alberta. Other minerals with noteworthy production include shale, stone, silica and ammolite. The commodities with the greatest development potential are diamond, silica and oil sands tailings by-product minerals.

Jan 1, 2001

By Long Han, Beijing General Research Institute of Mining and Metallurgy, Yu Xie, Yunhai Zhang, Yangge Zhu, University of Science and Technology Beijing, Yanbo Shang, Xingrong Zhang

"The first-principles method was employed to study the adsorption of hydroxyl calcium (CaOH+) and hydroxyl (OH-) on hematite and quartz surfaces. The calculation results suggested that OH- preferred to interact with the active Fe sites on the hematite surface, whereas OH- adsorbed on the quartz surface by weak hydrogen bond. Though CaOH+ could easily adsorb on the hematite and quartz surfaces by the formation of Ca-O bond, the covalence formed on the quartz surface was apparently stronger than that on the hematite surface, meaning a stronger and more stable adsorption. CaOH+ adsorbed on quartz surface was mainly through the interaction of O-2p and Ca-3d states, and this interaction on hematite surface was weaker.INTRODUCTIONIron Increase and Silicon Reduction Technology (Yu & Duan, 2002) of hematite is mainly through the reverse flotation (silica is floated away from the iron concentrate). There are two ways to achieve this (Houot, 1983). One is to collect quartz by cationic collector directly; the other is to activate quartz by lime and then collect it by anionic collector. There are two main different views with respect to the mechanism of quartz activation: mono-hydroxyl compound theory (Fuerstenau, Rice & Somasundaran, 1965; Fuerstenau & Palmer, 1976) and surface hydroxyl precipitation theory (Hu & Wang, 1988; Wang & Hu, 1990). The former indicated the formation of the mono-hydroxyl complex is one of the two criteria of quartz flotation. The later theory, on the other hand, suggested that surface precipitation is the adsorption of active species of metallic ion on quartz surface. However, most of those researches are based on the solution chemistry of flotation and little is done at the microscopic level.In this paper, by the help of first-principles calculations, the adsorption models, bonding conditions, Mulliken charge populations and adsorption energies of hydroxyl and calcium hydroxyl ions (OH- and CaOH+) on hematite (001) and quartz (100) surfaces were investigated to find out the lime activation of quartz at atomic level, which is significant for the researches of quartz activation theoretically and practically."

Jan 1, 2016

By S. P. Lowe

Flotation testing of Flin Flon ore was started in the Denver laboratory of Complex Ores Recoveries Co. in March, 1926. There had been a considerable amount of flotation testing previously which had shown possibilities of success, and it was felt that, with the increased knowledge of flotation and the comparatively new reagents then available, flotation held out the best prospects for a successful commercial treatment of this ore. There remained available for this experimental work a small amount of the rejects from a thorough sampling of the mine and some ore from the mine dump.

Jan 1, 1930

By S. N. Dixon

"Maximizing the value of each tonne of processed ore is the goal for all operations. Cyanidation processing of gold-copper ores has been challenging since its first use in 1889. The current practice treats a bleed or the total flow of mill solution to recover copper as copper sulfide (by sulfidization, acidification, recycling, and thickening), or to recover the cyanide (by acidification-volatilization neutralization). The process presented uses the adsorption of copper cyanide by carbon and the selective elution of copper from carbon to concentrate copper into a smaller stream. Copper contained in the smaller stream is precipitated as copper cyanide.RÉSUMÉ Toutes les exploitations ont pour objectif commun d’optimiser la valeur de chaque tonne de minerai traité. Depuis sa première utilisation en 1889, la méthode de traitement par cyanuration des minerais aurifère et cuprifère s’est révélée complexe. La pratique actuelle traite la saignée ou le débit total d’une solution de traitement du concentrateur pour récupérer le cuivre sous la forme de sulfure de cuivre (par sulfuration, acidification, recyclage et épaississement), ou pour récupérer le cyanure (par acidification, volatilisation et neutralisation). Le procédé présenté dans cet article utilise l’adsorption sur charbon actif de la solution de cyanure de cuivre et l’élution sélective du cuivre depuis le charbon pour concentrer le cuivre en un plus petit jet. Le cuivre contenu dans ce plus petit jet est précipité sous forme de cyanure de cuivre.INTRODUCTIONProcessing gold-copper ores by cyanidation has been a cost-control challenge since the cyanidation process was first used in 1889. Copper cyanide is stable only in the cuprous state, not the cupric. This factor results in the oxidation of a mole of cyanide per mole of nonchalcocite copper extracted. Each mole of copper extracted forms a cyanide complex with a minimum of 3 mol of cyanide. This cyanide-to-copper mole ratio is required to dissolve gold. The oxidation of cyanide and copper complexation with cyanide results in high cyanide consumption for copper-gold ores, which is a significant operating cost.One challenge in processing gold-copper ore is the cost of cyanide related to the extraction of copper. Processing 10,000 t/d of ore containing 1,000 mg/kg copper and 10% copper extraction yields 1,000 kg/d of copper. Currently, processes to remove copper from cyanide leach solution treat either the total flow of the barren or a bleed of the barren. The two processes used for copper-gold ores are sulfidization, acidification, recycling, and thickening (SART), which produces a copper sulfide product for sale; and acidification- volatilization-neutralization (AVR), which recovers the cyanide from a gas and produces a low–cyanide content solution. This low–cyanide content solution can be recycled to the process or might require additional treatment before being disposed from the operation."

Jan 1, 2017

By M. Jiang, X. Fan, W. X. Chen, Z. K. Guo, H. H. Zou

"Some improvements are carried out for elasto-plastic model by taking the shear dilation effects and relaxation effects of deep rocks into accounted. The high pressure equations of states with Mie-Grüneisen form are also introduced to describe the relation of pressure-volumetric strain. Numerical simulations of free field responses for deep underground explosions are conducted by using the user subroutines which compiled by means of the secondary development functions of LS-DYNA9703D codes. It is indicated that the dynamic responses of free field are well simulated based on this improved elasto-plastic model, and the analytical results are in good agreement with the data of U.S. Hardhat nuclear test.INTRODUCTIONDynamic behaviors of deep rocks for underground explosions are obviously different from that of shallow underground explosions and have aroused great attentions of international experts who work for rock engineering. The dynamic models of deep rocks could be roughly divided into classic elasto-plastic model and fracture damage model according to different theoretical foundation. M. E.Kipp and D. E.Grady et al. are the outstanding representatives who engaged in the researches of fracture damage mechanics. Researches of dynamic problems for geomaterials were carried out by C.C.Grigorian and the conclusion that incompressible elasto-plastic medium model could not be used to solve the problems of closed underground explosion was derived, and therefore C.C.Grigorian model was proposed. In this model, C.C.Grigorian assumed that the average hydrostatic pressures and the densities of medium had one to one relationship, and the path of loading or unloading is different from each other. For shear deformations, analytical solutions of the problems were derived according to the model which was slightly different from Prandtl-Reuss model, the constitutive equations were closed by Mises-Schleiher constitutive model. However, the analysis showed that there were two inadequacies in C.C.Grigorian model. Firstly, the shear dilation effects of fractured medium after wave front could not be considered. Secondly, the relaxation characteristics of the rocks in fractured region were not taken into account."

Jan 1, 2015

By W. E. Cockfield

This paper is not intended as an original contribution to this subject, but rather as a review of the main theories which are held with regard to placer deposits, with, of course, particular reference to the placers of British Columbia. The present interest in gold mining has, however, brought the subject of placers to the fore, and possibly a brief outline of the geology of such deposits will serve as a basis for discussion on the subject. In Canada, the most valuable of our placers are deposits of gold, and consequently the discussion will centre largely on placer-gold deposits. The same principles apply, of course, to placer deposits of other metals. The Origin of Placer Deposits As a starting point, the idea which is prevailingly held is that placer or alluvial gold is detrital in origin, that is to say, the gold originally existed in veins, lodes, or disseminations in the country rock of the regions in which the placer deposits are now found, and that, through the various erosive forces of nature, it was liberated from those veins or lodes and concentrated in the form in which we now find it. 1 have not time to go thoroughly into the proof of this, but the lines of evidence are many. If we take the Cariboo district as a typical example, Johnston and Uglow(l) have shown, first of all, that the placer and vein gold are identical in character. Crystals occur both in the placers and in the lodes, but the crystals in the placers are nearly always slightly worn, indicating transportation.

Jan 1, 1932

By A. W. JR. Whitaker

Introduction Within the last quarter of a century the Lake St. John-Saguenay valley has been converted from a quiet agricultural district to one of the important industrial centres in the Dominion. First there was the expansion -of the pulp and paper industry, and then, starting a little over ten years, ago, the development, in large .blocks, of the enormous hydro-electric power resources of the Saguenay river. Coincident with this power development, the world aluminum industry was rapidly expanding and looking for a new source of cheap power. This was found in the Saguenay valley-and so, in 1925, Arvida was established by the Aluminum Company of Canada as a location for one of the largest aluminum plants in the world. Arvida, an incorporated city comprising an area of some ten square miles, is ideally located on a more or less level plateau about 350 feet above the Saguenay river. Seldom has industry stepped boldly forth and carved out of Nature a community with full city status. The process usually goes through the steps of camp, village, town, and city, involving improper planning or lack of planning; all of which has been avoided at Arvida by starting out in the right way. While this community has only a population of approximately 2,000 at the present time, it is carefully planned for a population many times this figure. Streets, city parks, business and residential sections, have been definitely planned, and, with a City government, proper ordinances were passed at the beginning to ensure the building and maintenance of a model industrial community. As the crow flies, Arvida is about 35 miles due east of lake St. John, and 0 miles west of the St. Lawrence river at Tadoussac. From a shipping standpoint, it is well served by the Canadian National railways, with direct lines to Quebec and Montreal, and by ocean shipping facilities at Port Alfred, which is about 15 miles to the east on the Saguenay river and is served by the Roberval & Saguenay railway. The latter has interchange connections with the Canadian National at Arivda, and also operates a branch line into the city of Chicoutimi.

Jan 1, 1933

By S. Nikolic, H. M. Henao

"There is renewed interest in the improvement of existing copper smelting processes and the development of new technologies. It has become clear that further accurate information on slag properties, in particular, on phase equilibria are required in order to optimize these processes. It is in this context that improved experimental research methodologies have been developed specifically to provide information on phase equilibria at the oxygen partial pressures encountered in copper smelting practice. The methodology involves synthetic slag equilibration at controlled gas atmospheres, quenching and measurement of compositions of phases with an electron probe X-ray microanalyser (EPMA) with wavelength dispersive detectors (WDD). Application of modem analytical tools and careful design of experiments greatly improve accuracy of determination of phase equilibria in complex, multi-phase slag systems. New experimental data on phase equilibria for the copper smelting and converting silicate slags at controlled oxygen partial pressures in the temperature range between 1200°C and 1350°C in the ""Fe0""-Ca0-SiO2 system and in the ""Cu20""-""Fe0""-Ca0-Si02 system in equilibrium with metallic copper are reported, and differences between various data sources are analyzed."

Jan 1, 2007

By F. J. Alcock

The Appalachian region of Canada comprises the three maritime provinces; Nova Scotia; New Brunswick; and Prince Edward Island; and that; part of the Province of Quebec lying south and east of Logan's fault. This; major thrust runs in a gently curving line from lake Champlain to Quebec; city and thence down the valley of the St. Lawrence to pass between Anticosti; island and Gaspe peninsula. To the northwest lies the St. Lawrence; Lowland division of the Interior Plains geological province; a region underlain; largely by early Palxozoic strata; which for the most part lie horizontal; or with low dips; where faults occur they are predominantly of the normal; type; and only locally are the beds cut by intrusive rocks. To the southeast; on the other side of the fault zone; an entirely different set of conditions is; encountered. There; Lower Devonian and older strata stand at high angles; are sheared and thrust faulted; and are intruded in many places by granitic; igneous bodies. The present paper is designed to outline briefly the geological; and structural history of this geological province and to emphasize; the part that structural conditions have played in connection with mineral; deposition.

Jan 1, 1954

By R. E. Legg

This paper gives a brief outline of the mining and milling methods which will be used on the Stirling zinc-lead-copper ores by Stirling Mines, Limited, who have for the past two years been developing the Stirling mine in Richmond county, Nova Scotia, and who will bring the mine into production in November, 1929. No attempt has been made to give the paper a detailed technical character, for the main reason chat, since base-metal mining is something new in Nova Scotia, it is felt that a general description would be preferable before this Society, whose membership is mainly made up of chose engaged in the coal mining and associated industries. Furthermore, as both mining and milling operations will be governed to a certain degree by the experience gained after production commences, there are many points which cannot be definitely stated now. GEOLOGY Before discussing the mining methods, it is desirable to present a general picture of the geology and occurrence of the ore-bodies. The surface rocks in the vicinity of the mine consist of rhyolites of .pre-Cambrian age. These volcanic flows outcrop in very few places, usually along' the beds of creeks or on the shores of the numerous small lakes. Consequently, a detailed geological map is not available. The exploration work carried out to date has revealed a sheared zone extending through the volcanic flows for a distance of over 1,000 feet. Along this zone, there has been a replacement of the rhyolites by a carbonate rock for widths varying from 50 to 230 feet, and it is in this carbonate formation chat the mineralization at a later date took place.

Jan 1, 1929

By G. R. McMeekin

"THE TOPIC suggested for my contribution to this Symposium was ""Lead-Zinc Smelting - 40 Years of Pollution Control"". The history of the development of smelting industry at Trail and the control of sulphur dioxide could make quite an interesting historical study. However, in the field of environmental control, the public is not particularly interested in what you did yesterday, but rather what you are doing today and what you are planning to do tomorrow. I can't fault this approach, but because there are some subject lessons that history can demonstrate, I would like to tell enough of the story (under three headings) to bring a focus on matters of contemporary concern in regard to public relations and ecology. The three general headings suggested are: (1) time before the capture of by-product sulphur; (2) the capture of sulphur; and (3) the ecological and public relations conclusions from these."

Jan 1, 1972

By Ross D. Lawrence

"IntroductionOne of the methods used when applying the Market Approach to the valuation of a mineral exploration property is known as the Joint Venture Terms Method. The method is particularly useful for the valuation of early-stage exploration properties. Unfortunately, valuators are sometimes imprecise in distinguishing between joint ventures and other types of transactions.At VALMIN '94, Bob Appleyard1 proposed that, if one ignores the time value of money and the probability that the expenditure commitment would be completed, the formula to calculate the value ($V) of a property owned by Party B at the time of the deal would be:$V =$Ex (100-1%)/1% (Formula I)Where $V is the value of the property2Where $E is the expenditure commitment by Party A, andWhere 1% is the percentage property interest to be earned by party A.At PACRIM '99, Mike Lawrence and Graham Dewar3 referred to this method and suggested that there was an ambiguity in the formula proposed by Appleyard in 1994. Mike Lawrence referred to this problem again at VALMIN '014•Lawrence & Dewar suggested that the formulashould be:$V100% =($Ell%) x 100 (Formula 2)Where $V 100% is the value of the entire property,Where $E is the expenditure commitment by Party B, andWhere 1% is the percentage property interest to be earned by Party B.Subsequently, there has been considerable discussion in the AuslMM Bulletin5. In my view, this discussion has touched on a number of useful points, but generally has overlooked one essential element needed for an understanding of the correct application of the N Terms method. That essential element is to understand that there is a material difference between (1) entering into a joint venture arrangement and (2) the purchase of an interest in a property."

Jan 1, 2003