Capital Markets and Project Valuation for Geoscientists and Engineers

Presented by: Dale Mah, Endeavour Silver Corp; Joe Mazumdar, Exploration Insights; Nikki Adshead-Bell, Cupel Advisory; Neil Adshead, Commodity Discovery Fund; Michael Gray, Agentis Capital Mining Partners

Summary: This course is presented by geologists who have extensive industry experience in addition to capital markets experience. It is a two-day course and will offer an introduction to capital markets to anyone interested in the connection between corporate finance and mining. Attendees will also be given a hands-on introduction to cash flow models and the opportunity to evaluate a project quantitatively using NPV and present their opinion.

Part one will introduce attendees to the financial side of the exploration and mining industries. This includes an overview of capital markets, sell-side and buy-side, equity research, investment banking, and M&A. We will discuss the various financial firms that link capital with companies, such as brokerages, conventional banks, alternative banks, private equity, advisory firms and exempt market dealers; plus the numerous forms of financings they offer.

Part two will be focused on project valuation using various valuation methods, with a focus on NPV, Net Smelter Revenue, and cash flow modelling. This will involve group work where each is assigned fictional projects to complete as a valuation exercise. If time permits, we will include valuation of royalties and streaming transactions