Assessing Natural resources opportunity requires sound methodology and technique to ensure there will be no potential opportunity lost due to inadequate process and yet has to be in accordance with reporting codes. Any uncertainties, risk, and opportunities need to be assessed thoroughly and systematically As also aware, most of reporting codes oblige any quantitative quote for ‘exploration target’ has to be reported in range due to its nature of uncertainties and characteristics.
The workshop will cover the difference between single deterministic and range analysis method. It will elaborate more on the range resources/potential analysis; a structured analysis of resources/potential characteristics and uncertainty used to predict a range of conceivable resources/potential outcomes which from the basis opportunity and investment evaluation. It is applicable throughout the exploration process and stages; from the target area selection to project handover. Abovementioned methods will also allow the company to be able to set/simulate several strategies/scenarios confidently