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In reviewing the Exposure Draft of the CIMVAL Code for the Valuation of Mineral Properties, a welcome addition in the form of a short-form valuation report is noted. Micon International Limited, a specialist mining consultancy that provides independent professional mining services worldwide, enthusiastically supports the use of short-form reports where applicable.

Short-form reports are easier and quicker to read. Paired with current technology and effective social media tools, they are perfectly mobile friendly. Have you ever tried reading a long post on your mobile? If so, I’m sure you have experienced  how annoying that can be. With the advent of smartphones, reading and surfing on mobiles has become the new norm but only short-form content is engaging and easy enough to read on small screen devices.

In Micon’s opinion, the main disadvantage of short-form reporting is that it does not allow the reader to dive into the intricacies of the subject matter. However, this can be addressed by carefully selecting key subject headings, as proposed by the Special Committee of the Canadian Institute of Mining, Metallurgy and Petroleum in the Draft mineral asset valuation code. Since short-form reports summarise details, it can be difficult to get the readers to believe and trust your opinion. Thus, the importance of engaging with a reputable consultancy such as Micon to prepare your short-form reports.

Micon understands that mineral asset valuations, whether completed as a Comprehensive Valuation Report or as a Short Form Valuation Report, require equally in-depth reviews of the supporting technical information. Also, mineral asset valuations rely on technical information signed off by a Qualified or Competent Person. In some instances, they are based on technical information provided by Clients. In these instances, the technical information has to be subject to review by a Qualified or Competent Person in good standing, such as our senior mineral industry consultants, bringing extensive international experience in geology, mining engineering, metallurgy, processing, environmental management, market analysis and mineral economics.

Micon reviewed the Exposure Draft of the CIMVAL Code and will continue to play an active and participating role in providing industry guidance and support through our Canadian and UK offices, as well as representatives in Europe and Russia. With extensive experience in valuing Mineral Properties, Micon can assist mining companies, their financial, auditing and legal service providers as well as governmental organisations with independent Valuation Reports compliant with the SAMVAL, CIMVAL or Valmin Codes These mineral property valuation codes, created specifically for South Africa, Canada and Australia, respectively, are also applicable elsewhere.

For more information, contact Derick R de Wit or Chris Jacobs through the Micon website: www.micon-international.com/our-team.

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