MES Vancouver is pleased to present the following informational event:
NI 43-101 and Risks. What Risks?
featuring:
Franco Oboni
Oboni Riskope Associates
Vancouver, BC
The definition of the “viewing angle” (corporate, investor, regulators, public, etc.), the success/ failure criteria, the resulting multi-dimensional consequences are of paramount importance when attempting to perform a Risk Assessment (RA). If any of those is missing or unclear (see https://www.riskope.com/knowledge-centre/tool-box/glossary/ for a suggested specific glossary) any RA will be meaningless or at least misleading.
This is particularly important when looking at the relationship between the disclosure requirements intended for investors following, for example, NI43-101. NI43-101 reports should provide information about a mine to prospective investors. However, in our experience, numerous factors generally not included in the report can turn a great prospect into a financial disaster, with dire consequences to the investors.
Recent failures of tailings facilities brought back this particular issue with great emphasis.
Some operational risk may indeed significantly affect share values and ability to conduct business, maintain Social License to Operate (SLO).
The Expert Panel opinion report on the Mt Polley tailings facility failure recommended that all proposed new tailings facilities should include a bankable feasibility study, but “bankable” is not an assurance either.
Thus it is reasonable to ask: should an NI43-101 report contain information about critical mine’s facilities (risks) such as tailings, access roads, logistics, etc..? And, if positive, which ones? Should NI43-101 report include holistic convergent scalable and drillable risk assessments? Again, if positive, convergence should cover at least:
- tailings facilities and dumps
- ingress/egress (logistic and supplying infrastructures)
- energy
- closure
- etc.
As we have developed to date large spectrum risk assessments for tailings systems, dumps, road and railroad mining logistic, mining wharves, water, energy, cyber, etc. we will use these example to show that risk assessments intended for investors may highlight different conclusions than the ones intended for the corporation or management, although both are based on the same holistic hazard and risk register.
Conclusion: if considering investment in a new mine or investment in a mine upgrade read the NI43-101 report but don’t think it is enough. It is time to get the full picture and understand a few specific points about what risks really matter.
Biography:
Dr. Franco Oboni, Ph.D. (Civ. Eng./Geotech.)
Pres. Oboni Riskope Associates Inc. (www.riskope.com)
Vancouver, Lausanne, and Torino
Franco is a consultant, mentor, author of over fifty papers, co-author of the 2007 book entitled: “Improving Sustainability through Reasonable Risk and Crisis Management” and of the 2016 The Long Shadow of Human Generated Geohazards: Risks and Crises, a chapter in the book entitled Geohazards Caused by Human Activity.
Clients include Global 1,000 companies, large insurances, natural resources, railroads, wharves, regional and provincial governments, suppliers, medical and fashion.
Franco supports decision makers, manages risk and crisis mitigation projects, risk and security audits and geo-environmental hazard mitigation studies in four continents. Projects include definition of needs, training for corporate clients, negotiations.
Franco delivers customized seminars (in English, French, Italian and Spanish) to industrial audiences world-wide. Franco was co-recipient of the Italian Canadian Chamber of Commerce (Canada West) 2010 Innovation Award. Franco teaches Risk Management modules at MBA courses at the Turin University Business School.
Suggested readings:
Please feel free to download (one copy per reader) our last endeavour (a Chapter in an INTECH e-book) at https://www.intechopen.com/books/geohazards-caused-by-human-activity/the-long-shadow-of-human-generated-geohazards-risks-and-crises
You can visit our list of selected publications (also freely downloadable) at https://www.riskope.com/knowledge-centre/tool-box/publications-presentations/
Thursday, October 12, 2017
4:15pm – 6:00pm
SCHEDULE
4:15 pm – Registration
4:30 pm – Presentation and Q&A
5:55 pm – Final Remarks
Segal Graduate School of Business – Simon Fraser University
500 Granville Street, Vancouver, BC
Room 2800 (situated on the 2nd floor: CN Strategy Room)
The seminar is complimentary and seats are limited. Register by Tuesday, October 10, to secure your place. Please RSVP by emailing Vancouver@cimmes.org if you are interested in attending. This is an excellent networking opportunity and there is no charge to attend. So we can best service all who are interested and able to join us at this upcoming event please register for it if you are confident that you are indeed able to attend it. Thank you for your interest and understanding.
Thank you to our sponsor, Simon Fraser University’s Segal Graduate School of Business, for providing the space!
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