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Technical Audits, Economic
Appraisals and Valuations
Mackay & Schnellmann Pty Limited undertake
the preparation of technical audits and economic appraisals as part
of the due diligence procedure commissioned by a client or by a
lending institution in the course of obtaining finance. Valuations
are frequently for incorporation in prospectuses but can also be
required in takeovers, related party transactions, legal proceedings
and similar situations.
Examples of recent technical, economic and valuation
assignments are:
SOUTH AUSTRALIA, NORTHERN TERRITORY & WESTERN
AUSTRALIA, 2001
A valuation has been prepared of the diamond properties held by
a South Australian company. All of the properties are at an early
stage of exploration. Three of the properties are located in South
Australia, one in the Northern Territory and the last in Western
Australia. The Valuation is for incorporation in a prospectus.
WESTERN AUSTRALIA, 2001
A valuation has been completed of the minority interest held by
a Canadian company in a group of diamond properties in the Kimberley
Region of Western Australia. The majority joint venture partner
is proposing to purchase the minority interest. As this constitutes
a related party transaction, the valuation is being prepared for
submission to the Canadian Stock Exchange.
QUEENSLAND, 2000
A technical audit was prepared on the Skardon River kaolin deposit
in Queensland for a major Western Australian company. The study
involved assessing the extent of the database and deriving inferences
about the average grain size of the kaolin particles, the consistency
of the grain size distribution within the deposit and the potential
size of the resource. The study was commissioned as input to the
preparation of an offer to purchase the deposit.
WESTERN AUSTRALIA, 1999
Technical and economic due diligence was carried out on behalf of
a Swiss company during the preparation of a feasibility study for
the Windimurra vanadium project. Activities included assessment
of the geological interpretation, vetting of the resource calculation
method and evaluation of the continuity of the deposit. Construction
was completed in 1999 at a cost of $121.5 million. This assignment
was carried out in conjunction with our associated company IMC of
the UK that provided mining and metallurgical services.
WESTERN AUSTRALIA, 1998
An assessment was made of the Pinnacles nickel laterite deposit
in the Eastern Goldfields. The purpose was to examine the geology
of the deposit and the credibility of the estimated resources along
with the potential for augmenting them. Guidance was given on the
factors that would make the deposit attractive or otherwise to investors
and offers from potential joint venture partners were assessed.
Indications were given of the range of values that might be applicable
although no formal valuation was completed.
Additional examples of professional assignments carried out by Mackay
and Schnellmann Pty Limited that have involved technical audit,
economic appraisal and valuation related activities will be found
on the other Expertise pages as well as on the Commodities
pages of this website.
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