The VALMIN Code sets out requirements for the technical assessment and valuation of mineral assets and securities for independent expert reports and provides guidance for petroleum assets and securities. This course will provide the fundamentals and principles of appropriate Public Reporting of technical assessment and/or valuations of mining assets in compliance with relevant laws. The course will suit professionals working on the evaluation of mining and exploration assets and who are responsible for Public Reports that will include information about the evaluation of assets or valuation of securities. Learn practical knowledge that you can apply immediately to your work. 

Module 1 | Why the VALMIN Code?

In this module you will learn about why the VALMIN Code is important:

• Describe why using the VALMIN Code is important
• Define when and how the Code is used
• Demonstrate how the VALMIN Code interacts with the JORC Code
• Demonstrate VALMIN Code interaction with other regulations
• Describe the roles of VALMIN Practitioners
• Describe who has responsibility for correct Code application
• Outline how the use of the VALMIN Code is governed
• Define the VALMIN Code principles, in particular independence and reasonableness
• Explain the priority of guidance and where VALMIN Code fits

Module 2 | Preparing Technical Assessment Reports

In this module you will learn how to prepare Technical Assessment Reports:

• Explain the primary purpose of a VALMIN Public Report
• Describe the commissioning of a VALMIN Public Report
• Describe what a VALMIN public report is, and how it can be used
• Identify a VALMIN non-public report
• Describe how a technical assessment report (evaluation) is different from a valuation report
• Recognise the key elements of a VALMIN Technical Report
• Explain site inspection requirements
• Explain why indemnities and declarations are important
• Describe the key roles in the VALMIN report process

Module 3 | Undertaking Valuations

In this module you will learn how to undertake valuations: 

• Explain the basis of value in the VALMIN Code
• Recall the responsibility of the Practitioner with respect to Valuation Approaches and Methods
• Identify the most commonly applied Valuation Methods and their relationship to the Valuation Approaches
• Identify areas of concern and typical pitfalls in the application of Valuation Methods
• Describe inputs into Valuation Methods, including CAPM, JV and Kilburn Geoscientific inputs
• Recognise the assets that can be valued using the VALMIN Code
• Describe the importance of a valuation range
• Explain market discounts and premia

Module 4 Finalising the Report

In this module you will learn how to finalise the report:

• Explain the key steps in finalising a public VALMIN report (sharing draft, feedback, updates, regulator review, finalisation) and the key elements of each
• Describe the different steps required for a report with a technical  assessment only, compared with one with a technical assessment and valuation
• Describe requirements for finalising the assignment, including the Practitioner’s record keeping obligations
• Discuss common misconceptions regarding the VALMIN Code
• Give examples by way of practical guidance, anecdotes, experiences and case studies

This course is suitable for:

• Technical professionals: Those preparing technical assessments and economic studies.
• Company directors: Head office senior management and technical personnel with a responsibility for VALMIN reports.
• Advisory and accounting groups: With valuation practices.

• A good working knowledge of English.
• AusIMM courses are generally suitable for people who have completed their tertiary education and have been in the workforce for at least two years.
• No other pre-requisites are required.