Message from the Managing Director

Mark Noppe

“80% growth from our previous financial year”

Having completed our second fullfinancial year of operation, it isextremely gratifying to report an80% growth in staff and clientactivity over the previous year.Start up consultancies, and indeedeven established consultingcompanies, often face thedilemma of “do we hire people firstand then win the work, or do wewin the work and then seek thepeople”. The nature of a miningconsultancy like ours is that thework pi peline and duration ofprojects is mostly of a relativelyshort duration and it would be allbut impossible, in my opinion, totout for work without the people.We have been fervent inattracting those who we believehave the experience and fit tosupport the needs andexpectations of our current andfuture clients, and this strategy

has so far been most successful.We have welcomed six newstarters to our team in the pasttwo months: Dr Isobel Clark(Geology – Perth), CharlotteNangolo (Mining – Perth),Francois Grobler (Corporate –Perth), Matthew Readford(Geology – Brisbane), BradleyOffer (Mining – Brisbane) andDoug Hutchinson (Geology –Brisbane).Xstract is pleased to sponsorthe undergraduate lectures inResource/Reserve Estimation atthe Mackay School of Mines,Reno,Nevada, 17 Oct to 18 Nov. We arealso hosting Dr Michael Doggett’scourse “Economic Guidelines forMineral Exploration”, Perth 7 to 11Nov.

This issue…

Message from the MD P.1Welcome Dr Isobel Clark P.2

Geostatistics Courses by Dr Isobel Clark P.3

Xstract in Mongolia P.4Xstract Technical Talks P.5

Mozambique Coal Conference P.6Economic Guidelines for

Mineral Exploration Course by Dr Michael Doggett P.9

Xstract PairQA Software P.10MRRT Overview P.11

New staff members P.13Hot jobs at Xstract P.14Xstract in pictures P.15

Meet us at... P.16

Who is Xstract?

Xstract is a privately owned andoperated resource and miningindustry consultancy based inAustralia, and operating globally.

What does Xstract do?

Xstract provides independent,strategic and tactical advice,and personalised professionalservices to blue-chi p andpremium clients in the fields ofdata management, environment,geology, resource / reserveestimation, mine engineering,process engineering, feasibility /operation studies, due diligencereviews, asset valuation and riskanalysis across a wide range ofmineral commodities andgeographies.

Old coal mine, China

July 2011

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Xstract welcomes Dr Isobel Clark to the team

Dr Isobel ClarkPrincipal | Geology , Perth

Isobel is a professional Mining Engineer who has taught, researched and consulted in the field ofgeostatistics for almost 30 years. Isobel is well known as the author of the introductory text"Practical Geostatistics" (1979), and co-author of “Practical Geostatistics 2000”. Her experiencecovers the whole spectrum from public resource / reserve statements – reporting under NI43-101 and JORC Code – through to working at the grade control stage in producing mines. Isobel hasexperience in a wide variety of minerals and mining methods on six continents and has beeninvolved in resource estimation for most commodities, from coal to off-shore diamond projects.Mineralisation types range from stockwork through hydrothermal veins to massive sulphides,whilstresource and reserve estimates have been provided for mining methods including back-stoping, cutand fill, open stoping, room and pillar and open pit block-by-block evaluation. She is a Fellow of theIMMM and SAIMM, a Chartered Engineer in Europe,Qualified Person under the MMSA in the USA.

By Mark Noppe | Managing Director

I was very fortunate to visit a number of coalprojects and mines in inner China recently. Inaddition to the opportunity to see the operationsand facilities both on surface and underground, Ihad the opportunity to spend time reviewing anddiscussing the resource and reserve calculations,classification and reporting with senior Chineseexperts. Furthermore, I was able to map out theprocess and permitting local private coalcompanies need to go though to ultimately begranted coal production licences.

There are couple of previous articles written by western consultancies on the Chinese and JORCCode comparison which I found useful background for my journey. However, being able to discussand drill down into the details with the Chinese experts provided a valuable insight into the logic andinterpretation of the 1999 Chinese Code with the 2004 JORC Code and the 2003 AustralianGuidelines for Estimating and Reporting of Inventory Coal, Coal Resources and Coal Reserves.Of particular note is that in my interpretation the Chinese “Sub to Marginal Economic Resource”category is akin to “Inventory Coal” and not a Coal Resource, and that several of the categoriestermed “Basic Reserves” are actually Coal Resources since they report in-situ tonnages and coalqualities with no modifying mining factors applied. As for the remainder of the categories and howthey are used, I was able to site and review technical reports, plans and sections supporting thereported resources and reserves as well as appreciate the sample spacing rules and theirapplication when reporting Measured, Indicated and Inferred Resources. These were generallysimilar to those applied in Australia prior to the 2003 coal guidelines.

For further information please contact Mark Noppe on mnoppe@xstractgroup.com

Chinese coal resources/reserve reporting and mine development

Old coal mine infrastructure in China

We are thrilled to announce that Dr Isobel Clark joinedXstract Mining Consultants on the 4 July 2011as Princi pal Consultant in the areas of Mining, Geologyand Geostatistics,Training and Mentoring.

G e o s t a t i s t i c s : 5 d ay c o m p r e h e n s i ve c o u r s e

Perth 05 -09 Sep | Brisbane 19-23 Sep | Reno 17 Oct-18 Nov

Xstract Mining Consultants is offering the ultimate opportunity to expand yourgeostatistical knowledge. You have the opportunity to register for the comprehensive5 day program incorporating 3 Day “Introduction to Geostatistics” and 2 Day “BringYour Own Data”.

Xstract is proud to be sponsoring Dr Isobel Clark to present the Undergraduatecourse in Mineral Resources and Reserve Estimation at the Mackay School of Mines,University of Nevada, Reno from 17 Oct to 18 Nov. Isobel will be available to presentthe 3 Day “Introduction to Geostatistics” course to Industry attendees during thisperiod.

Introduction to Geostatistics3 Day course

This course takes interested studentsfrom no knowledge of statistics orgeostatistics through to the mysteries ofordinary kriging and its variants in 3 days.Isobel Clark dismantles the black box ofgeostatistics so that the capabilities andlimitations can be clearly seen by all.No prior knowledge of statistics orgeostatistics is required. A minimum ofmathematics is necessary to explain thetechniques. Classes are a mixture oflecture, discussion and computer-basedpractical exercises. The PracticalGeostatistics 2000 teaching software isprovided however partici pants may usetheir own preferred packages if available.All partici pants receive a copy ofPractical Geostatistics 2000 in bookform.

Bring your own data for Geostatistical evaluation2 Day Course

This course is ideal for those who havecompleted the Practical Introductioncourse or who have a similar level ofknowledge in geostatistics. It allowspartici pants to analyse their own datausing the Practical Geostatistics 2000teaching software under supervision.Partici pants should, if possible, bring theirown data for independent study. Basiccomputer skills and a familiarity with PCWindows systems are an advantagebut not essential. Partici pants maytake away copies of all software anddata sets and will be provided with a CDcontaining all relevant teaching material.

For bookings or enquiries contact:

Silke Stolze +61 7 3221 2366sstolze@xstractgroup.com

For other courses run by Xstract please click here to be redirected to our website or visit our website at Xstractgroup.com

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Dr Isobel Clark

Article written by John Everard,Senior Consultant | Geology | Perth

Over the past eight months I have beenfortunate enough to work in Mongolia. Fora geologist this is a land of opportunity asthe country contains favourable geologicalenvironments for mineral resources.Another great advantage is that a largepart of the country is under explored;which in turn, opens up endless possibilities.The company’s foremost goal in working inMongolia has been to prepare our clientsfor the 2011 field season.

A good proportion of days have beendedicated to organising work programmes,budgets, purchasing supplies andequi pment; discussing with drillingcontractors and assay laboratories workrequirements; and most importantly,working as a mentor to further educateour clients’ Mongolian geologists.

John Everard in Mongolia discussing exploration with the local geologists.

John Everard and Doug Hutchinson in Mongolia: At Berkh Gozgor Exploration Camp.

Our work with the group of local younggeologists, we have our work with themfocused of developing and expanding theirpractical geological skills. While theireducation and geological knowledge isexcellent, young geologists lacki inexperience and therefore need guidance indealing with day to day issues.In May, the offices in Ulaanbaatar wereleft behind for the wide-open spaces ofthe Mongolian countryside and thus beganour fieldwork. Living in ger camps, theseason’s fieldwork has so far focused onthree exploration methods: geologicalmapping, geochemical and geophysicssurveys. Early, but crucial, steps in theidentifying mineralisation anomalies forfurther exploration in the coming monthsand new year.

Soil sampling

Xstract in Mongolia

Stream sediment sampling

4

On my last tri p, I was fortunateenough to attend the openingceremony of the 2011 NaadamFestival. The Naadam Festival isMongolia’s major holiday and was awonderful time to experience theculture and people of this amazingland. The opening ceremony featuredmarches and music from soldiers,monks and athletes; and this was allbefore the real fun began!

Opening of the Naadam Festival. Trooping of the White

Banner representing peace in Mongolia.

During Naadam, the three sporting passions of Mongolians, horse racing, wrestling andarchery, were played out over three days; it was a breath taking cultural experience.Having worked, travelled and made new friends in Mongolia, I can concur with the localsaying “Mongolia is a beautiful land”.

Xstract hosts regular lunch-time seminar talks providing technical information and networking opportunities for our clients, colleagues and associates.

Please email Val Dekenah vdekenah@xstractgroup.com

regarding this topic

Magnetite 101

Kristine Edwards of Calibre Globaldiscussed Magnetite 101 this week in ourPerth office– It was a general informationsession about Magnetite Projectdevelopment including general processingconsiderations, DTR development andother considerations. Interest was highwith over 60 attendees.

Please email Rebecca Summerville rsummerville@xstractgroup.com

For more information regarding this event.

Cont, Article by John Everard

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Integrating China in Capital ProjectPlanning and Supply Chains: TheWhy, What and How of ChinaProcurement

Xstract is pleased to host this presentation by

Kobus van der Wath, Group Managing Director,

The Beijing Axis

Shaun presented the Queensland infrastructure development plans as an international case studyand drew some analogies with the Mozambique situation. The most striking analogy was thedevelopment of the Barney and Hay Point coal terminals in Queensland in response to the increaseddemand in coking coal to support the Japanese steel industry in the 1960s. The current high cokingcoal prices maybe the kick-start for Mozambique, but if anything, Shaun’s presentation highlightedthe long way Mozambique still has to go in providing infrastructure for the new coal projects.

The Mozambican Coal Development Association (AMDCM) forecast that mining projects are readyto deliver close to 50 Mtpa in the next five years, growing to 100 Mtpa by 2025; however,infrastructure may not be sufficient for this coal to access the export market.

Numerous infrastructure studies by various interest groups are ongoing, but the key toinfrastructure development will be Private-Public Partnershi ps (PPP). This legislation is currentlybeing developed and should facilitate much needed private investment in the development of rail andport as suggested by Sal & Caldeira Lawyers. While PPP legislation formalises the process, this hasbeen done through offering concession to private investors to develop as well as maintain andoperate the infrastructure. Typically, these concessions are structured: CFM: (49% to 33%) andPrivate Investor: (51% to 67%)

This should unlock the intrinsic value of Teteprovince’s large coal endowment. Theobjective of PPP and other legislation is tofacilitate a new infrastructure and logisticsstrategy that is “a multi-user, industry leadapproach to infrastructure development withindependent management” according toAMDCM.

Mozambique Ports and Railways (CFM) wasestablished by the government some 100years ago. While in the 1930s CFMestablished ports and railways, it alsoprogressed into road and air transport. Whilelittle was done during the civil war from thelate 1970s through to the early 1990s, sincethen CFM has been revitalised with a newmission to “rebuild the railway and portsystems in conjunction with the privatesector to make it modern, competitive,efficient, financially viable and marketorientated”. CFM is divided into three regions;south, central and north.

Shaun Barry recently represented Xstract at the MozambiqueCoal Conference in Maputo. The conference focused on newcoal projects in the country and associated infrastructureconstraints. While infrastructure problems are beingaddressed, progress is slow.

Overview of the Mozambique Coal Conference

Article by Shaun BarrySenior Consultant |

Corporate

6

Source: CFM

During the 1980s and 1990s, CFM facilitated the investment of US$891 million in railways andports for each of these regions. In the future, the princi ple projects in the central region are to:

• Upgrade the Beira-Moatize line from 6 to 12 Mtpa and the Beira-Machinpanda line to 3 Mtpa.• Construct a coal terminal with a capacity of 5 Mtpa, increasing to 14 and then 20 Mtpa.

In the northern region, development is focused on the refurbishment of the railway lines and theport of Nacala, the construction of a coal terminal, and establishing a tax free zone at Nacala.

In 2002, the Mozambique government put management of the whole Beira rail system (both theSena line and the Beira-Zimbabwe line) out to tender. The tender process was supervised by theWorld Bank. Awarded to the Indian companies Rites and Ircon International, who then formed theconsortium Ricon. Caminhos de ferro do Beira (CCFB), the Beira Railroad Company, was thenset up, with 51% of the shares held by Ricon and 49% by CFM. The contract sti pulated that theentire system should be rehabilitated by January 2009. Reconstruction of the 600 km Senarailway line that connects Moatize district to the port of Beira has been plagued with problems,forcing authorities to reconsider their contract with Indian consortium Ricon.

Although the work has finished on the Sena line, it reportedly can only carry 4 Mtpa, 2 Mtpa shortof the contracted standards. This in itself would cap 4 Mtpa allocated to Vale and 2 Mtpa toRiversdale, less than half the companies' respective export goals.

Though work is also unfinished on the coal terminal at the port of Beira, officials have sought toreassure the mining companies that they will be able to get their product to market.

Dredging of the Pungue River channel back to 8 m below chart datum and refurbishment ofBerth 8 to load Handymax bulk carriers (45,000 t) and two purpose-built vessels for Vale's 4 Mtper year capacity is being undertaken.

Work carried out by Mott MacDonald, a civilengineering firm that presented at theconference, showed the three options toultimately take the port of Beira to 25Mtpaof coal. Option A is currently beingundertaken, with the refurbishment of Berth8. Option B is a new terminal with threeberths and 18 Mtpa design capacity. OptionC is the Savane Terminal with an off-shorejetty, 2 berths for Panamax size vessels anddesign capacity of 25 Mtpa.

On January 10, 2005, the second phase ofthe North Development Corridor concessionwas completed, to rehabilitate and managethe Nacala Corridor for a 15-year period.

Mozambique Coal Conference cont...

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Source: Mott MacDonald

The Nacala Corridor consists of the Port of Nacala, the Northern Railway network, and therailway system of Malawi. The project includes:

• Rehabilitation of the 77 km section of the line between Cuamba and the border with Malawiat Entre Lagos

• Improvement of Malawi’s rail system to improve drainage and reduce line interruptions duringthe annual rains

• Refurbishment of the largest natural deep-water port on the east African coast – at Nacala.

In 2010, Vale exercised an option to own a stake in the concession. In April 2011, the companysigned a memorandum of understanding with the Malawi government to build 167 km of lineacross the country's southern end, giving it access to the Mozambique, Cuamba to Nacala line.This long term logistic strategy of Vale’s, to export coal from Moatize, will have a total raildistance from Moatize to the Nacala port of 930 km.

Mott MacDonald presented a study for a40 Mtpa coal terminal at Nacala, expandableto 100 Mtpa. Dredging would be requiredgiving three berths load capabilities forcapesize (120,000 t) vessels.

Two complete new rail options, a northerlyroute through Malawi and a southerly routethrough Mozambique, were also investigatedby Mott MacDonald using new technologyfor both track and rolling stock. This systemwould be capable of delivering a stated coalvolume of 40 Mtpa, with design capacity toaddress 60 Mtpa, expandable to 100 Mtpa.

It was concluded that a coal supplychain from Tete Province to port ofNacala was deemed feasible with afree-on-board cost of less thanUS$30/ton. While the developmentof the Moatize coal deposit is drivenby the strong demand in themetallurgical coal market, it is alsogeographically well-placed to becompetitive in both the Asia-Pacificand Atlantic markets. However, inorder to capitalise on its naturalendowments, Mozambique mustimprove its infrastructure capacity.

For further information please contact Shaun Barry sbarry@xstractgroup.com

Mozambique Coal Conference cont...

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Source: Mott MacDonald

The course is designed to introduce the techniquesused to assess and value mineral projects. Thefocus is on the costs, risks and returns associatedwith the mineral exploration and feasibility phases ofthe mineral supply process whereby unknownmineral deposits are discovered, developed andproduced. The course integrates the technicalinformation related to mineral deposits with theeconomic assessments required to make properinvestment decisions in the mineralsindustry. Course content includes revenue andcosts aspects of cash flows, discounted cash flowstaxation, sensitivity and risk analysis, and establishingminimum exploration conditions. International casestudies will be used to highlight the course materialand provide a highly applied approach to mineralproject evaluation.

The course will be delivered over a 5-day intensiveprogram integrating lectures by the course leaderand group assignments for coursepartici pants. The course is structured so as to behighly applied and maximize interaction of courseleaders and partici pants. An integral part of thecourse is small group work whereby partici pants inthe course are divided into smaller groups of five todiscuss and complete assignments and industrycase studies based on each segment of the coursematerial. Each group will be responsible forpresenting their assignments to the class.

Economic Guidelines for Mineral Exploration

5 Day course in Perth, 7-11 November 2011

This Month’s Q&A

A: One answer to this question is to calculate the average coefficient of variation (CVAVR (%)) and performreduced major Axis regressions (RMA). The results of these tests can provide an indication as to whetherduplicate samples fall within ‘acceptable’ limits.

Xstract now offers a software tool to perform this analysis, “PairQA.”

Q: When reviewing sampling QA/QC, what level of precision is enough and what is ‘acceptable precision’?

To find out more regarding this topic turn to page 10.

9

Dr. Michael Doggett is a resource investment and mining advisory specialist based in Canada He has 25years experience in the field of mineral economics advising mining companies, governments andinternational agencies on issues related to project evaluation, mineral taxation, and industry explorationtrends. He has delivered professional development programs in mineral project evaluation to more than1,200 people in a dozen countries. Dr. Doggett is an Adjunct Professor at Queen’s University where heserved as Director of the Mineral Exploration Master’s Program from 1997 to 2007. He is a Director ofthe Prospectors and Developers Association of Canada and serves on the Board of Directors of sixpublically traded exploration and mining companies. He has recently been named as a DistinguishedLecturer of the Canadian Institute of Mining, Metallurgy and Petroleum for 2010-2011. He has served asthe Society of Economic Geologists International Exchange lecturer in 2005 and in 2002 he was thereci pient of the Robert Elver Mineral Economics Award of the CIM.

Course overview

For further information please contact:

Silke Stolze +61 7 3221 2366sstolze@xstractgroup.com

Xstract Mining Consultants is providing this special opportunity to attend Dr Michael Doggett’sEconomic Guidelines for Mineral Exploration course in Australia.

DR MICHAEL DOGGETT

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For further information on Pair QA please contact Nick Anderson nanderson@xstractgroup.com.

Pair QA

Written and developed by Nick Anderson | Consultant, Technologies and James Carpenter | Senior Consultant, Geology

PairQAis a software program created by Xstract Mining Consultants. It calculates theAverage Coefficient of Variation (CVAVR (%)) and the Reduced Major Axis Regression (RMA),the purpose of which is to define an unbiased measurement of error for duplicate samples.The software is based on published work on the Average Coefficient of Variation (Stanleyand Lawie, 2007), (Abzalov, 2008), and for the Reduced Major Axis Regression (Sinclair andBlackwell, 2002).

PairQA was created to provide fast, simpleto use and reliable access to CoV and RMAcalculations. This software is customised toread in duplicate sample data from a CSV file,and perform the analysis without furthersupervision or intervention. From theanalysis, CoV and RMA values are shown, aswell as a scatter chart showing theduplicates plotted against each other withthe regression line to visually show the userhow their data fits.

ReferencesAbzalov M., 2008. Quality Control of Assay Data: A Review of Procedures for Measuring and MonitoringPrecision and Accuracy. Exploration and Mining Geology, Vol. 17, Nos 3-4, p. 131-144. Canadian Institute ofMining, Metallurgy and Petroleum.Sinclair A. J, Blackwell G. H., 2002. Applied Mineral Inventory Estimation. Cambridge, UK: Cambridge UniversityPress.Stanley C. R., Lawie, D., 2007. Average Relative Error in Geochemical Determinations: Clarification, Calculationand a Plea for Consistency. Exploration and Mining Geology, Vol. 16, Nos 3-4, p. 267-275. Canadian Institute ofMining, Metallurgy and Petroleum.

To Download

Please visit our website, and navigate to‘Our services->’Technologies ->PairQA’ tobe taken to the PairQA pages, where youwill find the download link. PairQA isMicrosoft Windows compatible.

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Background

The Mineral Rent Resource Tax (MRRT) Draft Legislation was released by the Federal Governmentin June 2011, bringing to a close almost a year of speculation and uncertainty as to its contents.The pathway towards this legislation started in July 2010 with the Resource Taxation PolicyAnnouncement which introduced the Resource Super Profits Tax (RSPT). The political fallout fromthis announcement caused extensive modification to the RSPT, resulting in the Mineral ResourceRent Tax (MRRT) and changes to the existing Petroleum Resource Rent Tax (PRRT). In August2010, the Policy Transition Group (PTG) was formed to develop the technical details and design ofboth the MRRT and PRRT.On 21 December 2010, the PTG provided the Government with the preliminary details and keydesign features for the implementation of the tax. The Government responded to the PTG inMarch 2011 accepting 98 of the proposed recommendations. The exposure draft was firstreleased for public comment on 10 June 2011.

Mineral Resource Rent Tax (MRRT)

How Xstract can help

Whilst the accounting and tax issues resulting from the MRRT are complex, the steps toensure compliance are relatively straight forward. From a technical perspective, Xstract is ableto simplify and prepare your company for the MRRT. We have developed a detailed systematicapproach that provides a pathway through the MRRT process based on integrated models,operational knowledge and technical expertise in the coal and iron ore industries.Based on the current draft of the legislation, the key starting point is to determine the value ofthe upstream and the downstream assets as at 1 July 2012. When we overlay this with thelandscape view as detailed below, we see that the taxing point for the MRRT starts after therun-of mine (ROM) pad.

Exploration Mine Planning Blasting Overburden Load &

Haul ROM Pad Crushing Washing Rail Blending Port Loading

FOB Coal Sales

ROM Pad

Taxing Point

FOB Coal Sale

Down streamUp stream

RevenueMining Profit Taxing Time

Exploration

Written and developed by Colin Hannah | Princi pal Consultant, Corporate

12

From a geological and engineering viewpoint, the main drivers and the methodology ofapproach is outlined below:

Methodology Type Standard operating procedures Xstract advantage

Cost Appraised Value Meaningful past exploration and committed future costs

Our consultants have detailedknowledge of Australian explorationprogramme design and costings(including geophysical and drilling)having advised numerous clientsranging from junior explorers tomultinational producers withoperations in Australia

Historical cost Incurred cost less any outstanding obligations and/or depletions

Commonly adopted approach used asa cross check to other methodologies

Income DCF analysis NPV performed on calculated free cash flows over project’s life

Xstract has assembled a highlycompetent team with an in-depthknowledge of the key drivers to bemodelled in the geology, mining,engineering, processing, valuation andrisk fields. Our team has many yearsof practical and operational experiencein industry

Statistical/probabilistic Probability factor applied to NPV

Our team has expertise in theapplication of Real Options andDecision Tree analysis to facilitatedecision making and risk mitigation inoperational and development miningprojects

Real options analysis Factors in decision flexibility and uncertainty

Decision tree analysis Using yes/no analysis with probabilities

Market Comparable transactions

Similar properties reflect similar values

Xstract maintains a highly evolved andcomprehensive in-house transactiondatabase which supports itscomparable market analysis for thevaluation of most major mineralsincluding coal, ferrous and non-ferrousmetals and selected industrial minerals

Joint Venture/option terms

Required participation expenditure in exploring or developing a property by the incoming party

A supporting methodology to thecomparable transactions which is usedby Xstract when appropriate

MRRT requires rigorous and transparent supporting information ranging in detail fromexploration tenements to existing open pit and underground operational mine sites. Withthe largest consultancy-based, mineral asset valuation team in Australia, Xstract has theknowledge, skills, and expertise to ensure your company is afforded an easy passagethrough the MRRT process. Furthermore, we undertake to complete your MRRT projectson time and with sufficient rigour to withstand the most ardent scrutiny from theAustralian Tax Office.

Should you require further information please contact Colin Hannah on channah@xstractgr.oup.com

MRRT Cont...

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Xstract welcomes our new starters

Francois Grobler Principal | Corporate Services, Perth

Francois has more than 17 years experience as a geologist and project analyst in thecorporate environment, as well as underground and alluvial operations in SouthAfrica. Francois has gained extensive experience in technical and economic projectevaluation, which includes substantial exposure to quantitative risk analysis anddecision-making under uncertainty. He has been involved in valuations of variousprojects and operations in a number of commodities and countries for feasibilitystudies, stock exchange listings, M&As, JVs and legal proceedings. Franciosspecialises in Integrated Risk Assessment, which includes whole-of-project risk anduncertainty evaluation. This approach includes both qualitative and quantitative riskanalysis using tools such as Monte Carlo Simulation, Discreet Event Simulation, RealOptions as well as Optimisation (MILP) under uncertainty. Francois has a MSc Eng(Min Econ), Dipl (Fin Mngmt), is a PR. Sci. Nat and is a MAusIMM and MSAIMM.

Charlotte has 6 years of mineral industry experience, primarily in open pit mining.Upon graduating, she worked for AngloGold Ashanti’s Navachab Gold mine in Namibiawhere she completed her graduate programme and worked as a short-term planningengineer. She then went on to work at Rio Tinto’s Iron Ore operations in the Pilbararegion of Western Australia where she covered various roles in operations planningand technical services, focusing on scheduling and designing. After Rio Tinto,Charlotte worked for a stockbroking firm as a resource analyst focusing on uraniumjunior exploration and producing companies, of which the majority are ASX and TSXlisted. Charlotte has lectured on financial valuations of mining projects toundergraduates and run an Introduction to Mineral Resource Management course atthe University of the Witwatersrand while completing her MSc (Mineral Economics).Charlotte holds a Bachelor of Science in Engineering (Mining) and Masters of Sciencein Engineering (Mineral Economics).

Charlotte Nangolo Consultant | Mining, Perth

Matthew Readford has 23 years’ experience in Mining and Management Consulting.His mining experience ranges from resource estimation, feasibility and operationalstudies, independent expert reviews to business process and information technologysystem optimisation for a wide range of projects throughout the world. Commodityand mining settings include open pit and underground gold, copper, bauxite, lead-zinc-silver, nickel, coal, uranium and evaporites. Matthew’s project locations includeAustralia, New Zealand, Fiji, West and South Africa, the Middle East, Russia,Indonesia, and South America. He has also worked in Management Consulting,Operational, Financial, Safety and Technology Management roles in other industrysectors. Matthew holds a BSc Hons (Geology), MBA, and is certified in Prince2Project Management and also a member of the AusIMM along with being acommittee member of the AusIMM South East Queensland Branch.

Matthew Readford Principal | Geology, Brisbane

Hot jobs with Xstract Mining Consultants

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Perth Office

Brisbane Office

Apply online by clicking here or visit our website

Leader in Mining Consulting

This is an exciting opportunity tohelp drive our dynamic companyinto a new chapter. The successfulapplicant will be a recognisedmining industry professional andwill join the Perth managementteam and help lead the growth ofour very dynamic and expandingteam in Perth to deliverconsultancy services to Xstract’skey clients in Western Australiaand around the world. You willhave the capacity to generatevalue-creating opportunities, anenthusiasm for businessdevelopment, along with acommitment to team work.

Human Resources Advisor

You will have a background inhuman resources and ideallyworking in a medium-sizebusiness involving multi-taskingwith a wide scope of work. Youwill have the opportunity to play akey role in human resourcesinitiatives and activities. You willprovide mentoring anddevelopment to other teammembers and be responsible fordeveloping excellent workingrelationshi ps throughout theorganisation.

Princi pal Consultant (Mining) with Coal focus

You will be an integral part of amulti-disci plinary and multi-commodity team working with well-known leaders in the miningconsulting industry. You will havestrong skills in mining softwarepackages, reserve estimationtechniques, and have an aptitude tomentor, train, and share yourexperiences. Ideally you will haveextensive experience in eitherVulcan, Minex, XPAC and solidindustry experience in either mineplanning or scheduling andexperience in coal or coal seamgas.

Geology Manager

You will have previous experiencein managing teams, technical skillsin mining software packages, anda diverse range of geologicalexpertise with an aptitude tolearn, train and share yourexperience. This role will involve awide range of responsibilitiesincluding managing a team ofgeoscientists, writing, editing,proofing, researching andcoordinating the production ofpublic and technical reports,presentations and briefings.

Princi pal Consultant (Geology) with Iron Ore focus

You will have strong skills inmining software packages,resource estimation techniques,geostatistical methods, and havean aptitude to mentor, train, andshare your experience. You willhave solid industry experienceparticularly in Iron Ore, along witha specialty in one or more areassuch as resource evaluation,corporate services, feasibilitystudies, due diligence, independentexpert reports, mine developmentand operational improvement

Training Coordinator

This role will promote andadminister end to end clienttraining functions, developmentand implementation of thetraining frameworks and themanagement of our trainingplans. In this key role, you willhave the opportunity to make areal impact and develop yourcareer in a rapidly growingorganisation. As the successfulcandidate, you will have gainedexperience within a similar role,ideally within the resourcessector.

James Carpenter (2nd from the right) at the AusIMM Uranium conference in Perth earlier

this month.

Mongolian Landscape: Photo by Trevor Ellice from Xstract Mining Consultants

Xstract Cycle Team at the 50 km Brissie to the Bay Ride to support multiple sclerosis suffers.

"What better way to fly Virgin than with the boss!" Mark Noppe and Richard Branson at 36,000 feet.

15

Mark Noppe unleashing his Kung Fu panda on Chongqing.

BRISBANE

Level 20, 333 Ann StreetBrisbane, QLD, 4000

Phone: +61 7 3221 2366

Fax: +61 7 3221 2235

PERTH

Level 1, 1110 Hay StreetWest Perth, WA, 6005

Phone: +61 8 9327 9500

Fax: +61 8 9481 8700

MONGOLIA

Unit 612-613, Level 6 Central Tower Office Building, 2 Sukhbaatar Square,SBD-

8 Ulaanbaatar 210620a

Phone: +976 7744 0000

Fax: +976 7745 0000

Meet us at...

1 – 4 August – Diggers and Dealers Conference, Kalgoorlie WA

2 August – WIMWA Networking Event, Kalgoorlie WA

10 - August – JK Lecture, Brisbane QLD

22 – 24 August – AusIMM International Geology Conference, Queenstown NZ

31 August – 2 September – Africa Downunder Conference , Perth WA

5 – 9 September - Geostatistics 5 Day comprehensive course, Perth WA

6 - 9 September – AIMEX, Sydney NSW

19 – 23 September - Geostatistics 5 Day comprehensive course, Brisbane QLD

26 – 30 September – AusIMM APCOM Symposium, Sydney NSW

17 Oct – 18 Nov - Geostatistics 3 Day Introduction courses, Reno Nevada USA

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1. Quality In, Quality Out

2. Take the Gambling out of Sampling

3. Geology Sampler4. Mining Uncovered5. Making Money from

Mining6. Mind What You

Mine7. Doing the Numbers

on Coal8. Exceptional

Operational Geologist Programme

9. Estimate or Guesstimate

10. Practical Introduction to Geostatistics

11. BYO GeostatisticalEvaluation