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The following is a list of members who died in 1928. It is compiled from reports to the Secretary's office. Biographical sketches published in Mining and Metallurgy are indicated in the last two columns. Issue Containing Year or Date or Biography Election Name Death 1928 Page 1914 Adams. David T.................... July 22 October 471 1905 Aguilera. Pedro................... May 3 October 469 1902 Althouse, H. W.................... NOV. 3 December 559 1920 Averill: C. C...................... July 9 October 471 1915 Baldwin, C. Kemble............... Aug. 9 October 471 1926 Barquist, Walter C............... NOV. 14 June 298 Barron,* Clarence Walker......... Oct. 2 November 511 1917 Beasley, Fred E.................... Aug. 31 October 471 1901 Belden, S. B....................... May 15 July 333 1927 Binney, Edwin, Jr.................. Dec. 29 February 96 1915 Bonsall, James Malcolm............ Feb. 12 June 284 1917 Boyle, John....................... July 12 December 561 1913 BradEn, Eugene B............. Jan. 29 March 157 1889 Bulkley, Frank.................... Mar. 25 May 240 1896 Callaghan, J. T., Jr............... Apr. 1 1892 Chalmers, George.................. Feb. 4 April 197 1898 Clark, Josiah H.................. May 7 July 333 1887 Copeland, F. K............. Nov. 10 December 561 1915 Cunningham, B. L11............... Dec. 6 August 294 1888 Dana, R. T........................ Aug. 20 December 559 1907 Dennis, Clifford G............... Dec. 28 March 1 1920 DeVenny, Thomas................ Feb. 13 April 197 1882 d'Invillier-, Edward V........... Jan. 4 March 157 1884 Duncan, M. M..................... Dec. 17 February 96 1924 Dyrssen, WaldemaR ............... Aug. 4 October 471 1906 Edmondson. H. W................ Dec. 21 February 1884 Emmerton, F. A.................. Oct. 9 June 298 1911 Eu, S. H............................ July 20 February 1917 Farrand, Ira W.................... Sept. 6 October 469 1900 Fell, E. Nelson...........•......... Mar. 25 May 231 1918 Fenton, Clarence M.............. October Junet 298 1908 Ferraris, Erminio................. Sept. 22 June 298 1914 Galloway. A. D. R............... December April 215 1924 Grant, A. W., Jr................... .4pr. 5 June 285 1917 Grant, Clifford G............... Jan. 26 January? 37 1918 Grant, Frank E.............. Jan. 14 September 417 1921 Gunderoth, C. J.................. Feb. 15 1897 Harms, Ernest..................... Aug. 12 November 512 1891 Hartrick, J. S..................... Feb. 9 June 285 1925 Hochschild, Berthold.............. Jan. 24 April 197 1917 Hutton, L. W...................... NOV. 3 January 37 1894 Jenning", S. J...................... NOV. 17 December 560 1925 Jones, J. Ravenscroft............... Jan. 29 March 157 1880 Jones, J. T......................... May 4 June 284

Jan 1, 1929

By E. Öğretici, S. Kahraman

The indirect estimation of intact rock properties is particularly useful for preliminary investigations in engineering projects. In this paper we examine the usability of electrical resistivity, a nondestructive measurement, for the prediction of physical and mechanical rock characteristics. Physico-mechanical tests (uniaxial compression, Brazilian tensile, density, and porosity tests) and electrical resistivity measurements were performed on specimens of 36 rock types. Before the resistivity tests, the specimens were completely saturated with saline solution. Evaluation of the test results showed that there are medium or strong correlations between resistivity and rock properties. There are also strong or stronger correlations between the two parameters for the rock classes. The regression equations developed were statistically tested, and their validity was confirmed. The results were also compared with previous studies. The conclusion is that electrical resistivity measurement can be used for reliably estimating physical and mechanical rock characteristics.

Aug 8, 2024

By Valerio Viti

In High Pressure Die Casting a molten metal is injected through a thin gate into the cast cavity. High injection pressures and high gate velocities create atomization phenomena which can negatively affect the final quality of the cast. In order to control atomization process it is essential to understand the atomization patterns and the two-phase flowfield that exist at the gate exit. In the present work, 2D numerical simulations of the flow of molten Magnesium through a high aspect-ratio rectangular gate are performed using a water analogue for an open and closed cavity. The numerical simulations made use of VOF-type (Eulerian) physical models and Lagrangian models. Further, a sub-grid scale model was implemented that, in conjunction with VOF-type equations can efficiently predict the general atomization pattern without the need for high-resolution grids. The numerical results were compared to experimental data for validation.

Jan 1, 2006

"Investment in diamond exploration has been declining over the past decade, in spite of positive long-term industry fundamentals and a growing interest in diamonds as an investment category. The lack of new significant discoveries in recent years has eroded investor confidence, yet no new discoveries are possible without investment in exploration. Junior ‘mine finders’ have been the hardest hit. Their agility, tenacity, and appetite for risk are not sufficient to attract the funding required, even at the greenfield stage. Developing new discoveries into mineral resources can be crippling without solid financial support. Junior incubators could play a crucial role, especially at the project evaluation stage – but where are they? Alternatives to traditional funding mechanisms have become available, many still untested in the junior diamond exploration space. Valuable lessons can be drawn from the past and used to inform emerging new strategies. IntroductionDiamonds are the ultimate expression of love. Their ancient and timeless allure continues to influence consumer emotions and behaviours across continents, cultures and age groups. Analysts are predicting a sustained supplydemand shortfall in the years ahead which will trend diamond prices generally upwards. With positive long-term industry fundamentals, one cannot help but wonder why funding for diamond exploration and development projects is so scarce.Investment in exploration across commodities – including diamonds – has been declining for a number of years, reaching a historic eleven-year low early in 2017. The lack of major diamond discoveries in recent years has done little to strengthen the case for investing in diamond projects, yet no new discoveries can be made without investment in exploration.Global estimates of known carats in the ground stand currently at 2.5 billion carats, which equates to around 18 years of production at current levels of 140 million carats (mct) per annum. Sustainable replenishment of depleting diamond resources is possible only through the development of new discoveries. This is what junior explorers are best at – but they need investors to fund their evaluation activities from early in the project development continuum."

Feb 1, 2019

The Peko copper orebody is associated with a body of magnetite rock which it has partly replaced. The primary ore averages about 9 per cent. copper and 4 dwt. gold per ton and locally IS much richer. It consists essentially of chalcopyrite and unreplaced magnetite, with lesser amounts of pyrite, marcasite, pyrrhotite, cobaltite, bismuthinite, native bismuth and native gold. The earliest formed mineral is wolfram, and the latest formed is goethite, so that the temperature of deposition ranged from about 5000 C. to 1650 C. or lower.Oxidation extends to 270 ft., which is 100 ft. below the present water level. The oxidized ore consists of cuprite and native copper, and has replaced more or less massive chalcocite of a former zone of secondary sulphide enrichment. The present zone of secondary sulphide enrichment extends from about 270 ft. to 310 ft. depth.INTRODUCTIONThe Peko mine is about 6 miles south-west of Tennant Creek township in the Northern Territory, adjacent to a small outcrop of hematite rock that projects above an otherwise featureless "bull-dust" fiat.The copper-gold orebody being developed in this mine did not outcrop. It was first detected in 1950 by a surface diamond-drill hole (DDH.1), which intersected primary copper ore at a depth of 400 to 425 ft. This ore contained from 4 to 11 per cent. copper and 1 to 25 dwt. gold per ton. Since then a shaft has been sunk, and crosscuts and development drives have been opened on the 210..ft., 300-ft. and 400-ft. levels, which are also connected by winzes. Two diamond drill holes sunk from the 400-ft. level have intersected theorebody at about 450 to 460 ft., and a winze from the 400-ft. level intersected the lode from 445 to 500 ft. At this point it is 54 ft. wide, and averages 9 per cent. copper. More recently an inclined surface drill hole (Peko No. 1) has cut the lode at 856 ft. to 921 ft., equivalent to a vertical depth...

Jan 1, 1955

By Luciano Lellis Miranda

Este trabalho apresenta os principais conceitos de Indústria 4.0 e discute os benefícios do emprego de alguns de seus mecanismos na construção de um sistema integrado de gestão de energia, em especial a utilização das tecnologias de big data (ou megadados, em português). A tese defendida neste trabalho – a possibilidade de se produzir grande valor a partir da abundância de dados de medição de consumo, de produção e de estados dos equipamentos, tipicamente encontrada em ambientes industriais – é demonstrada através do caso concreto da empresa Aperam South America, em sua planta de Timóteo, MG. Os resultados apresentados neste trabalho ilustram, qualitativamente, os potenciais retornos apurados no desenvolvimento de um sistema com as características descritas.

Aug 17, 2017

The Anshan Iron and Steel Co. (AISC) broke its steelmaking design capacity in 1978, bringing its total production of steel products to 6.86 Mt. Located south of the industrial city of Shenyang, Liaoning Province, in northeastern China, it is by far China’s most important iron and steel complex, ranking twentieth among world centers. The complex represents a unique blend of old ecluipment and new ideas for increased production and improved products. Under a state plan, the Chinese hope to raise capacity to almost 15 Mt/a in the future. Originally started by the Japanese in the early 1920s, Anshan has had a rather turbulent 60-year history. It was disassembled by the Soviets after World War II, only to be reassembled by them in the 1950s. Production was also suppressed during the Cultural Revolution. Since the present-day organization, AISC, emerged, the center has experienced progressively improving conditions as well as increased production. Today, the center includes 10 blast furnaces, 24 open hearths, and two basic oxygen units, designed for 7 Mt/a ironmaking and 6.5 Mt/a steelmaking. In addition, it has six batteries of cokemaking facilities with combined 4.4-Mt/a capacity. Solid Iron Resources Anshan’s iron resources consist of a proven reserve base of over 7 Gt of 30~0 Fe, according to Kao Yang, president of the Anshan Iron Mining Co., a subsidiary of AI SC, Most of that, he continued, is amenable to surface mining. Five major mines located to the north and northeast of the city of Anshan are the principal iron ore producers. These mines trend in a somewhat circular manner and combined, represent an estimated 28.6 Ylt/a of ore capacity. In addition, some 2.2 Gt of magnesite, a necessary ingredient in steelmaking, are also part of the reserve base, according to Kao. Annual production is around .2 Mt/a of 47% magnesite, well over the steelmaking center’s annual requirements, Excess production is shipped to other steel-making centers. The largest of Anshau’s open-pit mines is the Chitashan operation with a design capacity of 8 Mt/a. Ore reserves here are well over a billion tons of 30% Fe. Earlier plans to expand production at this mine to 15 Mt/a, with the help of US Steel, have been temporarily shelved. The other mines in the district and their rated design capacity are: Kungchangling, 7 Mt/a; Donganshan, 6.4 Mt/a; Dakushan, 4.2 Mt/ti; and Yenchienshan, 3.0 Mt/a. The Kungchangling mine is the richest in terms of ore grade at 6076 Fe. Reserves are somewhat smaller at 100 Mt. The unit also operates a small shrinkage stoping operation. Ore grade at the other mines is usually 30-327. Fe. Llost mines operated at reduced capacity during 1979 owing to a natural gas shortage at the mills. The general

Jan 3, 1980

By Clara María Lamus Molina

The following minerals found in the residual black sands from gold mining in El Bagre Antioquia (Colombia) were identified as having major economic interest: Ilmenite (FeTiO3), with an average of 49% of TiO2, frequently altered presenting crowns; lamellaes of rutile and alteration textures; titanomagnetite with up to 25% of TiO2; magnetite (Fe3O4) in individual grains or associated with others minerals as hematite and ferromagnesian silicates rutile (TiO2) with considerable quantities of Nb2O5(0.1-3.7%Wt); zircon (ZrSiO4) with 66%Wt of ZrO2 and monazite with an average of 63.43%Wt of REE, this frequently associated to xenotime and thorite forming textures as little drops. Analysis in EPMA and SEM/EDS showed percentages of minor elements and traces, thereby clearly establishing the applications of these minerals in diverse industries. Furthermore, a detailed granumetric study of the different minerals and textural relationships among them also allowed for establishing the basis for possible processing and exploitation.

Jan 1, 2006

By Wallace W. Roepke

Research to evaluate the lubricity effects achieved by spraying water on the cutting bit of a mining machine or spraying water on the coal during cutting has shown that neither practice affects cutting forces, as had been believed. However, when water was supplied to the cutting zone axially through the bit at 3,000 to 5,000 psi pressure, tangent'ial cutting forces were reduced an average of 30 pct at a I-in depth of cut while normal bit forces were reduced an average of 65 pct. Lower normal forces mean reduced bit wear, faster advance with greater depth of cut, and fewer coal fines.

Jan 1, 1985

By H. L. Ames, P. H. Jennings, R. W. Stanley

A process has been developed for leaching copper, lead and calcium from molybdenite concentrate. The leachant is a solution containing an oxidizing chloride (e. g., CuC12, FeC13) and an alkaline earth metal chloride (e. g., CaC12). Cupric chloride and ferric chloride, in the presence of 20-30% calcium chloride, are effective oxidants for chalcopyrite and galena. Calcium chloride, in addition to promoting the rate of leaching, serves to lower the solution pH and raise the boiling point. Leaching for two hours at 110'~ with a 1 % CuC12-10% FeC13- 30% CaC12 solution results in the extraction of up to 98% of the copper in molybdenite, 98% of the lead, and 79% of the calcium. Less than 0. 5% of the molybdenum is dissolved. The leach solution can be rapidly and effectively regenerated with gaseous chlorine and recycled. Build-up of copper and lead in the leach solution is controlled by discarding about 30% of the leach solution each cycle.

Jan 1, 1973

Discussion of the paper of Leonard Waldo, presented at the New York meeting, February, 1911, and printed in Bulletin No. 76, April, 1913, pp. 555 to 559. HERBERT HAAS, San Francisco, Cal. (communication to the Secretary*):-Referring to Leonard Waldo's paper on Temperature Conversion Tables, I believe the following formulas can be easily remembered, and by reference to the thermomter scales of Fahrenheit (F.), Celsius (C.), and Réaumur (R.), their derivation and relation are at once understood n° F. = 4/9 (n°-32) R. = (n°-32) C. n° C.=(9/5 n° + 32) F. = 4/5 n° R. n° R.=(9/4 n° + 32) F. = 5/4 n° C. As the freezing point of water is at 32° F., corresponding to 0° C. and 0° R., 32 must be deducted from the Fahrenheit degrees when these are converted into C. or R. degrees. Likewise, to C. or R. degrees converted into F. degrees 32 must be added. The fractions 4/9 and 5/9 and their reciprocals are obtained thus:

Jan 5, 1913

By Donald A. Dahlstrom

In 1961 it became increasingly more evident that significant technological changes must be made in minerals beneficiation. The status quo in technology in today's competitive markets will not be tolerated. Higher productivity, greater recoveries and newer and better products must be sought and incorporated with lower operating costs. In other words, "when you build a new mill, don't build an old mill." Recommended reading for proof of the vital necessity of new methods and techniques is in the September 1961 issue of MINING ENGINEERING. The article by one of MBD's cherished and true veterans, E. H. Rose, is entitled "Iron Ore: The BIG Picture". Because of new beneficiation methods for iron ores, nearly 47 million tons of plus 60% iron concentrates will be produced and another 40.1 million tons of capacity will be under construction or committed. Thus in a relatively short period, 87 million tons of this high-grade iron concentrate with record low silica will be available. As Mr. Rose also points out, "in gross tons, without allowance for better grade, this is the equivalent of almost exactly two-thirds of all iron ore used for all purposes in the U.S. and Canada in the peak years of 1953 or 1957." Needless to say, improved mineral beneficiation methods have had far more reaching effects than just the production of higher grade iron concentrate.

Jan 2, 1962

By Jingcheng Li

Currently many underground coal mines worldwide have installed or been planning to install a tracking system to trace miners mainly for their safety. Although many systems have been reported functional, a lack of sophisticated and systematic error correction methods apparently is still an issue for them; often it results in a low system resolution. To improve the system resolutions, this paper introduces two position adjustment methods for mine tracking systems. The first is an entry-matching method that optimally adjusts an off-course tracking device to the closest tunnel (entry). The second is a distance measurement adjustment method that accurately adjusts the position of a tracking device along an entry according to a measured distance from the device to a reference point. The coplanar node-path network mine model is used as the foundation for the development of these two methods.

Jan 1, 2009

By Gordon E. Agar, David M. Hopstock

This paper describes the procedures and results of a series of experiments conducted to determine the depressing effect of sodium, calcium and magnesium ions on the amine flotation of quartz. It also presents an analysis of the experimental results by the electrical double layer theory. The flotation of quartz with primary amines has been practiced on a large scale in the phosphate industry for many years. Some glass sand —and recently iron ore — has also been treated by this flotation technique. These applications have been highly successful and demonstrate that a complete mastery of all the details of an operation is not needed to achieve an economic success. There are times, though, when it becomes important to recognize, both qualitatively and quantitatively, the effects of some previously ignored variables. The effects of cations on the amine flotation process, particularly those ions that contribute to water hardness and abound in sea water, are a case in point. In conjunction with the development of a cationic flotation reagent for separating quartz from apatite, it became necessary to quantify the influence of calcium and magnesium on the separation. In order to strengthen and broaden current understanding of the flotation process, the results were interpreted by means of the electrical double layer theory. THEORETICAL BACKGROUND Assume that, given the same equipment, procedure, and time, the recovery of quartz by amine flotation is a function of only the adsorption density of aminium ions in the Stern layer, i.e., that for any given adsorption density there exists only one recovery percentage. By the Stern-Grahame treatment of the electrical double layer,'-' for any ionic species in a solution in equilibrium with quartz,

Jan 1, 1969

By F. X. McCawley

The Bureau of Mines, in pursuing its goal of extending the life span of strategic materials, conducted field corrosion studies at the East Mesa Known Geothermal Resources Area (KGRA) in the Imperial Valley, Calif., to determine the optimum materials of construction for use in geothermal mineral energy resource recovery plants. These studies included characterization of geothermal environments and in situ corrosion testing. The corrosion resistance of 10 alloys exposed to 5 brine and steam process environments was evaluated using the low-salinity, high-temperature brine from geothermal well Mesa 6-1. Of these alloys, Hastelloy C-276, Hastelloy S, Incone1 625, titanium-2nickel, and 316 L stainless steel had excellent resistance to corrosion in all of the process environments; E-Brite 26-1 and 430 stainless steel had fair resistance. Although general corrosion rates for 4130 steel and 1020 carbon steel were substantially higher than those of the other iron-base alloys, these two alloys could prove useful in low-salinity process environments because of their low cost. Aluminum alloy 5005 was the least corrosion resistant alloy and pitted severely. Scales formed on all of the alloys in every process environment. Calcite, aragonite, and an amorphous silicate were the major components of the scales.

Jan 1, 1980

By T. W. Johnson

One of the common methods of increasing recovery of oil from partly depleted oil sands is to inject natural gas, air, or air-gas mixtures into the sand, thereby supplying energy to move oil into the well bore. Where natural gas is not available, air or an air-gas mixture is used as the repressuring medium. Air-gas mixtures are obtained from the casing-heads of oil-producing wells in the areas repressured with air or air-gas mixtures and consist usually of varying amounts of the hydrocarbon gases, nitrogen, oxygen, and carbon dioxide. Laboratory experiments have been conducted by the Bureau of Mines to determine the effect of air on crude oils.4/ In these experiments the crude oils were oxidized by the air, and the degree of oxidation depended not only upon the chemical composition of the crude oil but also upon the duration and method of contact between the oil and air, the temperature of the fluids and the concentration of the oxygen. When the crude oils were oxidized the following results and changes in the oils were obtained:

Jan 1, 1937

By C. E. Rodgers

WHEN the writer was engaged early last year by Canadian Comstock and its subsidiary, the Metropolitan Electric Company, to act as Consulting Mining Engineer in connection with the layout and equipment of the new ore-dressing laboratories at Laval University, Quebec, the metallurgical laboratory section of the School of Mines building was completely erected, including plastered walls, partitions, etc., and finished concrete floors. At that time, however, no equipment had been ordered, except three Dominion ball-mills and two Bell screening machines. ADVANCED OR CONTINUOUS LABORATORIES The continuous laboratory section of the Department occupies the basement and three floors of the building, with an approximate floor area of 9,000 square feet. Because of limitations imposed by the design of the building (height and arrangement of rooms, strength and design of floors, etc.), modifications of layout from what otherwise seemed most desirable were, of necessity, made. These included: (a) Omission of automatic sampling of the dry ore. (b) Complete elimination of inclined belt-conveyors through floors. (c) Exclusion of bucket elevators for either dry or wet ore transfer. (d) As a substitute for grill-covered drains and floor sumps, drainage from sections or from individual pieces of equipment was piped to a disposal system in the basement. (e) Substitution in several instances of fabricated steel in place of the usual concrete foundations for machinery. (f) Reducing floor cutting and area of such opening to a minimum. Ore storage and chute capacity above the basement level was also minimized to reduce total weight.

Jan 1, 1941

By S. J. Aresco

The Bureau of Mines has been active in promoting the purchase of coal for Government use under specifications that define the requirements in terms of heating value of the coal, expressed in British thermal units, and the composition as shown by proximate analyses. To these, when required, are added the ash-softening temperature, the free-swelling index, and the Hardgrove grindability index. Under most of these specification contracts the bidders guarantee the quality of the coal, and that guaranteed by the successful bidder becomes the standard of his contract. The deliveries are sampled in accordance with instruction3 issued by the Bureau of Mines; the samples are analyzed in the Bureau laboratory to determine whether the coal is of the quality guaranteed by the contractor; if it is not, a price adjustment is made. Analyses of the delivered coal and tipple samples (samples collected at mine tipples as coal is being loaded into railroad cars or trucks) provide valuable data for use in evaluating future bids. In addition, the continuous sampling of coal as delivered is a check on the practical results obtained in burning the coal.

Jan 1, 1969

By L. Vinnett, J. Yianatos, S. Flores

"A numerical conditioning analysis for mineral recovery estimation was performed for industrial flotation plants, considering the copper (Cu), molybdenum (Mo) and iron (Fe) separability. A modified relative condition number, ?, was presented that allowed sensitivity analysis to be evaluated for the component recovery by means of an analytical formula. This closed form made it possible for the error propagation to be determined from feed, concentrate and tail grades with different orders of magnitude. The ? parameter can be evaluated using available grade data from the design criteria or historical mass balances, in which the variability is typically unknown. Reconciled data from different Cu/Mo concentrators were employed to evaluate the effect of small numerical disturbances in the grade data on the mineral recovery estimation. Higher error propagation was typically observed for Fe. The Mo minerals presented numerical problems, mainly in second cleaners and in the first cell of rougher banks. Lower condition numbers were observed for Cu due to the higher flotation rates.Mass-balance data reconciliation without redundancy was evaluated for a typical Cu/Mo flotation circuit using relative error minimization. Significant relative errors in the mineral recovery estimation were obtained with nonreconciled data in ill-conditioned problems. Negligible improvements in the mineral recovery estimation because of the data reconciliation with regard to the nonreconciled approach were obtained in well-conditioned problems. In addition, the improvements in mineral recovery estimation by using Cu, Mo and Fe in the data reconciliation were nonsignificant with respect to using only the best-conditioned component in well- and ill-conditioned problems.Despite the effort in data reconciliation and data repetition, poor performance may be obtained in ill-conditioned problems, which can deteriorate the flotation rate characterization. The error propagation has a negative impact on the mineral recovery of the first cell, which may significantly bias the flotation rate characterization of both valuable and nonvaluable elements.IntroductionMass balances have been extensively used in flotation processes to determine the mass flowrates (production) and mineral recovery (efficiency) of valuable minerals. Simple relationships for steadystate processes based on the feed, concentrate and tail grades can be obtained by taking a black-box approach. However, the calculation of concentrate flowrates from different components of the system, such as size fractions, chemical elements or minerals, does not satisfy the mass-conservation principle because of measurement errors (Smith and Ichiyen, 1973; Romagnoli and Sánchez, 2000). Mass-balance data reconciliation allows for obtaining a unique solution that satisfies the total and component mass balances, making small adjustments to the process data and taking advantage of the information redundancy (Narasimhan and Jordache, 2000). This methodology, which is based on a constrained weighted least-squares minimization, has proved to be robust when measurement errors are normally distributed, in the absence of gross errors.Commercial software has been developed to conduct massbalance data reconciliation in flotation processes, including MATBAL (Algosys, 2002), BILMAT (Algosys, 2013), JKMultibal (JKTech, 2013), BILCO (Caspeo, 2013) and HSC Chemistry (Outotec, 2013), which accomplish the reconciliation using known data accuracy in the optimization problem. The data accuracy can be obtained by sampling a stream n times in a run, known as repeats, each with independent chemical assays. Some unmeasured variables can be estimated using the measuring redundancy and sensor location. At present, grade and flow rate sensors may be incorporated in flotation to conduct real-time mass balances. However, a lack of sensor calibration and maintenance for suitable online measurements hinders the quality of the information. In"

Jan 1, 2016

By L. Kilburn

"A survey of 281 mineral exploration agreements examines the ratios among three ways that may be used to purchase an interest in a mineral property, viz: pay cash, pay shares and make future expenditures on the property.The dollar value of the future expenditures exceeds that of cash or shares by about nine times in most of the 110 agreements that contain cash-expenditure or share-expenditure components. Results suggest that cash and shares are treated about the same in terms of value.Buyers and sellers have opposing priorities for the way that they prefer to purchase a mineral property. These opposing priorities should give rise to a perceived 50:50 balance between cash/share payment and future expenditures to satisfy the idealized situation described by most definitions of fair market value (FMV). This balance between cash/share payments and future expenditures appears to be rationalized in negotiations to a FMV when expenditures are nine times greater than cash and/or payments.On this basis, it is proposed that the FMV of a property may be determined by aggregating the dollar amount of the cash/share payments plus one-ninth the dollar value of future expenditures, as set forth in the respective purchase agreement, and proportionately applying such aggregate to full property value."

Jan 1, 2005