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By Deborah McCombe

"and Bill Roscoe, Consulting Geologist and Principal with Scott Wilson Roscoe Postle AssociatesMineral property valuations are carried out for a variety of reasons, such as mergers and acquisitions, non-arm’s length transactions, initial public offerings of stocks, support of audited financial statements, fairness opinions, determination of vendor considerations, litigation, expropriation, income tax matters and insurance claims.The CIMVal Committee was formed in 1999 to review and advise on approaches to the valuation of mineral properties. CIMVal is a special committee of CIM formed on the recommendation of the Mining Standards Task Force of the Toronto Stock Exchange and the Ontario Securities Commission.After solicitation of views and consultation with various interested parties, the CIMVal Draft Standards and Guidelines for Valuation of Mineral Properties were released for comment in February 2002 and were finalized in February 2003. CIMVal’s objective was for the standards to be used by the mining industry in general and to be adopted by Canadian securities regulators and Canadian stock exchanges. To that end, the standards contain many of the definitions and concepts of National Instrument 43-101, Standards of Disclosure for Mineral Projects, which came into force in February 2001.The intent of the CIMVal Standards and Guidelines is that mineral property valuations be carried out by appropriately qualified individuals and that all relevant information be fully disclosed. It consists of two parts: standards, which are mandatory in the valuation of mineral properties, and guidelines, which elaborate on the standards and provide guidance and recommendations for the valuation process and for reporting."

Jan 1, 2003

By Roxanne Scott

Outline ? Overview of Community Investment in the Mining Sector ? Emerging Good Practice: ?Strategic Integrated Community Investment? ? Assessing Local Context: ? Institutional Assessment ? Partnership Assessment Approaches to Community Investment Isolation: No proactive engagement in community development Ad hoc philanthropy: small infrastructure, sponsorships, donations Strategic philanthropy: Community proposes options for development Company decides what to do and carries it out, e.g. building schools, health posts, roads Strategic integrated community investment: ? Aligned with government/community development goals and priorities ? Communities and government involved in decisions and execution ? Focused on training and capacity building ? Partnerships ? Continuation in absence of company support Measured returns on investment

May 1, 2010

By Phil A. Keele

"IntroductionGeneralThe Genesee Coal Mine is a joint venture of Fording Coal Limited and the city of Edmonton. The mine supplies thermal coal to the Genesee Generating Station operated by Edmonton Power and is located approximately 75 km southwest of Edmonton (Fig. I).Under the terms of the joint venture agreement, Fording Coal Limited has designed and developed the Genesee Coal Mine. Fording also operates the mine which has a minimum economic life of thirty-five years. Mine development started in the spring of 1987 with the construction of the dragline erection pad and mine service complex. Major development of mining areas was carried out in 1988 with the construction of haul roads, powerlines, topsoil recovery, etc. Mining officially commenced on December 14,1988.The mine produces 1.6 million tonnes of coal per year and employs 65 people. MiningGround conditions have turned out to be very poor, as expected with the majority of the overburden in the first few years a soft lacustrine clay with minor amounts of fine-grained glacial till. To compound matters, what was expected to be a relatively uniform coal subcrop turned out to be a very irregular erosional contact.The coal mined at Genesee is a sub-bituminous Class B thermal coal with approximately 16070 ash, 21% moisture, 8300 Btu/lb and 0.27% sulphur on an as-mined basis.The primary piece of mining equipment used at the Genesee Coal Mine is a M8200 walking dragline. It has an effective operating radius of 100.6 m, a 50.5 m3 bucket, and weighs approximately 3860 tonnes yielding a ground pressure of III KN/m2•Figure 2 illustrates schematically the single pass mining sequence presently employed at the Genesee Coal Mine. The M8200 is used to lift all coal out of the cut, the coal being placed in stockpiles on the prepared pad .This method maximizes coal recovery under the conditions where spoil failures due to poor material would otherwise put men and equipment at risk. The coal is subsequently loaded by the coal shovel operating on the same bench as the M8200 dragline and delivered to the plant as required.All mined areas, as required under Alberta Legislation, are to be returned to an agricultural land capability equal to or better than that which existed prior to mining. Reclamation activities, as a result, are an important and integral part of the mining process. A complete list of the primary mining equipment deployed at the Genesee Operations appears in Table I."

Jan 1, 1994

"These guidelines, implemented in 2003, were recommended by the Diamond Exploration Best Practices Committee established by the Canadian Institute of Mining, Metallurgy and Petroleum. The guidelines are applicable to public companies and their consultants reporting diamond exploration results.“The guidelines are referenced in the Companion Policy of NI 43-101 with a statement that disclosure regarding the reporting of diamond exploration sampling results should conform to them.”Reporting GuidelinesThe following guidelines have been recommended by the Diamond Exploration Best Practices Committee established by the Canadian Institute of Mining, Metallurgy and Petroleum. These guidelines are applicable to public companies and their consultants reporting diamond exploration results.In respect of these guidelines, Diamond Exploration Results are results derived from the initial activities undertaken to investigate a diamond bearing prospect or deposit, to generate tonnage, grade and value estimates that cannot be classified as a Mineral Resource or Mineral Reserve. They do not address the earlier stage reporting of geophysical, geochemical or kimberlite indicator mineral results.Public reports of Diamond Exploration Results relating to mineralization not classified as Mineral Resource or Mineral Reserve must address the confidence limits of the result and contain sufficient information to allow a considered and balanced judgement of the significance of the results.The objective of these guidelines is to assist public companies and consultants in making appropriate disclosure of diamond exploration results by reporting in a manner which is:Uniform within the diamond exploration industry; Consistent with reporting from other industry sectors .Comprehensive .Unambiguous .The guidelines are not prescriptive. Materiality is the overriding principle that determines the information that should be disclosed. However, where a company or consultant deviates from the guidelines, the disclosure or technical report should state the extent to which the guidelines have not been followed, and the reasons for the deviation.The guidelines do not in any way replace jurisdictional reporting requirements (For example, the requirement for Canadian reporting issuers to comply with Canadian Securities Administrators National Instrument 43-101 by having technical disclosure endorsed by a Qualified Person as defined in that legislation)."

Jan 1, 2003

By H. Attia, S. Engin

This paper presents a practical approach for determining the optimal spindle speed and the depth of cut in a milling operation within the ever-increasing economic and technical constrains. Analytical modeling and experimental work has been carried out to predict chatter in such operations. The stability lobes determined from this analysis were then used as a constraint in the optimization of the cutting process. The optimal cutting conditions are determined for two different objectives: maximum metal removal rate and minimum cost per unit. It is demonstrated that this approach can be generalized to impose multi-level constrains, e.g., surface integrity and machining accuracy. The approach presented in this work was examined and validated on three NC milling machines. The productivity improvement, cost reduction, while respecting part quality requirements, is demonstrated.

Jan 1, 2006

By John A. Allan

Introduction There are times when meditation on the past is worth while. Too often does it happen that in the busy routine there appears t9 be little time for reflection, and little good or benefit to be derived from what has already taken place, or what has become past achievement. Under conditions such as those that prevail at present, consideration is being given to many subjects that a few years ago were not looked upon as worthy of time or thought. The temporary lull in industrial development is permitting of a stock-taking investigation, a perusal of past activities, and a planning for future development with the return to normality. It is not proposed to include much new data in this address, but the endeavour will be made to survey, in resume, the sequence of events which led up to the birth of the mining industry in Canada, and to show how, as new discoveries were made, the centres of interest changed from time to time until mineral development extended across Canada from the Atlantic to the Pacific. It will appear, also, that external causes have accentuated mineral development at one time and retarded it at another. Early Records A, historical background to the mining industry extends even to an earlier date than the discovery by white men of that part of the continent of North America represented by Canada. It has been stated that the aborigines were still in the neolithic stage when the white man arrived. One metal only was known to the natives, and that was copper, obtained from possibly many parts of Canada, but particularly from the shores of lake Superior in Ontario, from the Coppermine river on the Arctic coast, and from die coastal regions of British Columbia.

Jan 1, 1933

By K. E. Prince, S. Burling, R. J. Ring, M. K. Maley, W. R. Taylor

Vanadium occurs as a component of carnotite, which commonly occurs in calcrete type ores, and in association with uranium in some sandstone-hosted deposits. Increasing demand for vanadium, which is used in high-strength steel and Vanadium Redox Flow Batteries (VRFBs), is offering some uranium producers a potential option for by-product vanadium recovery to improve project economics at a time when uranium prices are low. This paper presents the results of recent optimisation studies on the Bigrlyi deposit for the recovery of both uranium and vanadium. The impact of carbonate leaching conditions on uranium and vanadium extraction from a range of carnotite-in-calcrete ores is also examined, with vanadium extraction limited by the proportion of non-carnotite vanadium present in the ores. The findings are particularly relevant to developing projects as results show that elevated vanadium content in ore does not necessarily equate to a high vanadium extraction in leach.

Jan 1, 2020

By A. W. JR. Whitaker

Introduction Within the last quarter of a century the Lake St. John-Saguenay valley has been converted from a quiet agricultural district to one of the important industrial centres in the Dominion. First there was the expansion -of the pulp and paper industry, and then, starting a little over ten years, ago, the development, in large .blocks, of the enormous hydro-electric power resources of the Saguenay river. Coincident with this power development, the world aluminum industry was rapidly expanding and looking for a new source of cheap power. This was found in the Saguenay valley-and so, in 1925, Arvida was established by the Aluminum Company of Canada as a location for one of the largest aluminum plants in the world. Arvida, an incorporated city comprising an area of some ten square miles, is ideally located on a more or less level plateau about 350 feet above the Saguenay river. Seldom has industry stepped boldly forth and carved out of Nature a community with full city status. The process usually goes through the steps of camp, village, town, and city, involving improper planning or lack of planning; all of which has been avoided at Arvida by starting out in the right way. While this community has only a population of approximately 2,000 at the present time, it is carefully planned for a population many times this figure. Streets, city parks, business and residential sections, have been definitely planned, and, with a City government, proper ordinances were passed at the beginning to ensure the building and maintenance of a model industrial community. As the crow flies, Arvida is about 35 miles due east of lake St. John, and 0 miles west of the St. Lawrence river at Tadoussac. From a shipping standpoint, it is well served by the Canadian National railways, with direct lines to Quebec and Montreal, and by ocean shipping facilities at Port Alfred, which is about 15 miles to the east on the Saguenay river and is served by the Roberval & Saguenay railway. The latter has interchange connections with the Canadian National at Arivda, and also operates a branch line into the city of Chicoutimi.

Jan 1, 1933

By Ju-hyung Ha

New automated curing system for mass concrete has been developed to improve the quality of concrete structure and to save construction time and cost. The principle of this system is the automated water circulation system of heated curing water. Applied curing water on the surface of mass concrete keeps the temperature difference between center and surface of the structure below the threshold of specification. Mock-up test and field application have been conducted to investigate the performance of this system. In the results, new automated curing system reduced the chance of thermal crack occurrence and improved quality of the concrete structure as well.

Aug 1, 2013

By A. del Campo A.

The roast segregation process, which was patented in 1974, makes use of a set of chemical reactions that are different from the traditional sequential oxidation of iron and copper sulfides used by all modem pyrometallurgical processes to treat copper concentrates. It allows metallic copper to be obtained via sublimation of copper chloride at temperatures in the range of 700-800 OC. In addition it avoids melting the concentrate, doesn't require transferring molten materials, doesn't need flux addition and allows nearly all of the sulphur to be removed in one stage as a high-S02 gas stream. Most importantly, it allows a decrease in the use of energy to approximately 6 million BTU/ton of anodes. This represents a saving of approximately 40%, compared to the potential of the most advanced processes presently used. Such a promising process has been waiting for its first industrial application for more than 30 years. This article examines the technical difficulties that have delayed application of the roast segregation process to beneficiate copper concentrates. Special emphasis is made on material handling aspects, discussing the possibility of using a well designed mass flow silo as the main processing vessel to carry out the segregation stage. Cu2007

Jan 1, 2007

By Pingchao Ke, Zhihong Liu

"To overcome the problem that scoroditeis not stable in neutral and alkaline solutions, we proposed and investigated a synthesis method of scorodite coated in-situ with hydrated ferric oxide in the Fe(II)-As(V)-H2O system at the initial Fe(III)/As(V) molar ratios larger than 1.0.The synthesis was carried out at 90?,pH 1.5 under atmospheric pressure. During the synthesis, oxygen gas was conducted and bubbled into the system to oxidize Fe(II) ions into Fe(III)ions, and Na2CO3aqueous solution as neutralizing agent was added controllably into the system for keeping the pH constant at 1.5. In this study, three samples of scorodite were synthesized at the controlled initial Fe(II)/As(V) molar ratios of 1.0, 2.0 and 3.0, respectively. The characterizations of the samples by HRTEM, TEM/EDX, and chemical composition indicated that the particle surfaces of scorodite synthesized at the initial Fe(II)/As(V) molar ratio of 2.0 and 3.0 were coated in situ by a film of hydrated ferric oxide with the thickness of several nanometers, while the sample synthesized at the initial Fe(II)/As(V) molar ratio of 1.0 was uncoated scorodite. The TCLP and long-term leaching for the toxicity characteristic of the samples showed that scorodite coated in situ with hydrated ferric oxide was stable in a wide pH range from 3.0 to 10.0, with the arsenic concentrations in the leaching solutions less than 1.0mg/L. Nevertheless, uncoated scorodite was unstable under the conditions from weak acidity to alkalinity, with the arsenic concentrations in the leaching solutions larger than 5.0 mg/L.INTRODUCTIONArsenic pollution is a challenge for environment and health and has been an important issue for scientists (Hopkin, 1989).Arsenicis commonly associated with ores or concentrates of nonferrous metals, mainly as independent arsenic bearing minerals such as arsenopyrite (FeAsS), tennantite(Cu12As4S13), enargite (Cu3AsS4), cobaltite (CoAsS), and gersdorffite (NiAsS), realgar (As2S2), orpiment(As2S3), etc.(Matschullat, 2000; Mandal & Suzuki, 2002; Long & Peng, 2012). In the nonferrous metallurgical processes, arsenic is enriched mainly in such arsenic bearing materials as various flue dusts, residues, and anode slimes, which results in the accumulation of arsenic in the system owing to the circulation of those arsenic-bearing materials back to the system and the pollution to the environment (Harris, et al, 2003).In addition, the utilization of arsenic is limited and has been decreasing owing to its toxicity and carcinogenicity. Therefore, arsenic has to be removed from those arsenic-bearing materials and discarded safely (Dutrizac & Jambor, 1988; Monhemius & Swash, 1999; Drahota & Fillippi, 2009).In this case, how to immobilize arsenic has become a difficult problem which must be solved. Among the methods of immobilizing arsenic which have been proposed and investigated, immobilizing arsenic into a stable mineral to fix it, has been realized as a promising method and becomes a research focus(Dutrizac et al, 1987; Dutrizac & Jambor, 1988; Demopoulos et al, 1995; Fujita et al, 2008a; 2008b).Scorodite has been known as one of the best minerals for immobilizing arsenic, owing to its high stability under weak acidic condition, the arsenic content as high as 32wt%,and good crystallinity benefiting the separation of solid to liquid(Daivid et al, 1999; Zhu & Merkel, 2001). Scorodite can be synthesized from arsenic containing solutions under both hydrothermal and atmospheric conditions, and a lot of work has been done on the synthesis of scorodite and its leaching stability characterization (Filippou & Demopoulos, 1999; Gomez et al, 2011).Two plants for the immobilization of arsenic as scorodite have been putin to operation in Chile and Japan, respectively (Filippou & Demopoulos, 1999; Amir et al, 2016)."

Jan 1, 2017

"Option pricing is used in finance for valuing options to buy (or sell) shares at some future date because it provides a convenient framework for quantifying values subject to uncertainty. As one of the main sources of uncertainty in mining is the price (sales) of the metal, this approach can also be used for valuing mining projects.The first part of this paper reviews options and option pricing; the second part presents the approach developed by Brennan and Schwartz (1985) for using option pricing to value natural resources. Several applications of this methodology have been published; these are described. From a mining point of view, the assumptions made by Brennan and Schwartz are too simplistic. The weaknesses are discussed with a view to improving an apparently promising new way of assessing the value of projects. IntroductionThe collapse of the British merchant banking group, Barings, has highlighted the risks that can be incurred by speculators and arbitragers in the futures and options markets. But this negative attention on futures and options should not make us forget their positive aspects. They can provide producers and consumers of metals with more predictable sales prices. The introduction of the new traded average price options, TAPOS, by the London Metal Exchange in January 1997 is a response to this need. Equally important, the theory that the finance industry has developed for valuing options provides an interesting framework for valuing mineral projects as well. While this paper was being revised, the South African gold mining house, JCI, announced that it was using a methodology based on option pricing for valuing the mineral rights to deeplevel gold resources (see Box 1)."

Jan 1, 1997

By Yoginder P. Chugh

This paper discusses design of sprays systems for dust control around a continuous miner (CM) in about 4.2 m (14 ft.) high mining areas with about 1.0 m to 2.0 m (3-6 ft.) of out-of-seam dilution mining. The challenges included low air volumes and velocity at the end of the line curtain, dust produced from out-of-seam dilution rock being very fine with 50% of the particles less than 10 micron, poor capture of aerosol through scrubber suction inlets, dust escaping through the sides of the loading pan in mining high areas, overloading of dust-laden air in the wet-scrubber, and dust rollback toward workers. The challenges were resolved through CFD modeling of airflows; improved line curtain installation, redesign and varying the spatial locations of spray systems as compared to low mining height areas. Water sprays on CM is the primary engineering control for dust control in coal mining. In 2010, the authors developed several spray system concepts for dust control (Chugh, Patwardhan, Gurley, & Hirschi (2009), Chugh & Gurley (2009), Chugh 2012). These included increased contact time between dust particles and water droplets, improved potential for the dust aerosol to be sucked in through suction inlets, and reduced dust-roll back to the operators and workers. CFD modeling was used to understand airflow patterns around mining areas and to identify spatial locations for sprays to minimize dust exposure of CM operator (CMO), haulage unit operator (HUO), and workers downwind of the operating CM in the last open crosscut (LOXC). Face area ventilation plays a key role in dilution and removal of dust generated by mining operations. High mining heights and large pillar sizes associated with longwall mining reduce the air volume reaching the face area to achieve good dust dilution.

Aug 1, 2013

By Schrade F. Radtke

THE law of our present industrial society is the law of the jungle. By this I mean survival of the fittest. I do not refer to man or animal or the development of superior genetic strain. Rather do I refer to one's product, one's process, or one's material of construction. Each must perform in a superior manner or it is doomed to extinction; it must be steadily improved so that it can meet the competition of ether materials, of other equipment, or other processes. We have before us the classic examples of the horse and buggy vs the automo-bile, cf silk vs nylon, of the steam locomotive vs the diesel engine; in each case, a superior product has virtually wiped out its predecessor. Furthermore, a product, process, or piece of equipment is sold on its performance, together with engineering data which define its •characteristics and performance. For the most part, the present day sales-man must deal in terms of engineering performance of his product; he must know competitive materials -their strength and limitations as well N either old fashioned salesmanship, tradition, nor custom could have saved the horse and buggy from extinction; a superior product which has been steadily and con-sistently improved won out, 'and in turn, this change-over caused a dramatic• change in our whole way of life.

Jan 1, 1960

By N. C. Carter, Wm. H. White, J. E. Harakal

"Of twenty-one ore deposits in British Columbia which are either in production or advanced stages of exploration, five have potassium-argon ages in a range of 165-205 m.y., eight are in a range of 44-55 m.y. and the remainder are either ca. 140 m.y. or ca. 100 m.y. old. Deposits of the oldest group have generally similar geological environments and radiometrically indistinguishable ages of magmatic and hydrothermal minerals. Deposits of the youngest group also have similar geological environments, with successive magmatic and hydrothermal events closely intermingled in time and place. Such deposits find no comfortable home in existing classifications of ore deposits. 1t is suggested, therefore, that those epigenetic deposits which can be shown by radiometrie and/or geologie means to be coeval with genetically related magmatism be designated as ""paramagmatic deposits."""

Jan 1, 1968

By T. G. Joseph, E. Lampard

ABSTRACT: Surface mining operations must manage variability from within their operations as well as variability imposed upon them by external forces. A framework to manage both internal and external variability through the continuous review and adjustment of a mine plan during active mining lifetime operation is introduced, to minimize lost production and maintain operational safety. The observational approach of “observe, evaluate, interpret, predict, and adapt” is employed as the backbone of this approach. Although written with a surface mining operation in mind, the framework outlined in this paper would be equally applicable to any mining or processing operation.

Jan 1, 2011

By R A. Stevenson

The purpose of this paper is to outline a recent development in ground fault protection. The paper deals with the A problems of both grounded and ungrounded systems, with regard to hazards to personnel and equipment, and shows that the increased sensitivity and speed of operation of this new detector results in increased safety to personnel and reduced stresses on equipment, and permits the detection of leakage currents before they become serious faults. The detector can be applied to all distribution systems, either A.C. or D.C., up to 15 kv., and the detector itself can be tested at regular intervals without interrupting line circuits. T HERE is always controversy among engineers as to whether distribution systems should be grounded or ungrounded. There are many experi-enced engineers on both sides of this controversy, and each have valid reasons for their choice

Jan 1, 1964

By M. Rafiee

Indoor physical security, as a perpetual and multi-layered phenomenon, is a timeintensive and labor-consuming task. Various technologies have been leveraged to develop automatic access control, intrusion detection, or video monitoring systems. Video surveillance has been significantly enhanced by the advent of Pan-Tilt-Zoom (PTZ) cameras and advanced video processing, which together enable effective monitoring and recording. The development of ubiquitous object identification and tracking technologies provide the opportunity to accomplish automatic access control and tracking. Intrusion detection has also become possible through deploying networks of motion sensors for alerting about abnormal behaviors. However, each of the above-mentioned technologies has its own limitations. This paper presents a fully automated indoor security solution that leverages an Ultra-wideband (UWB) Real-Time Locating System (RTLS), PTZ surveillance cameras and a Building Information Model (BIM) as three sources of environmental data. Providing authorized persons with UWB tags, unauthorized intruders are distinguished as the mismatch observed between the detected tag owners and the persons detected in the video, and intrusion alert is generated. PTZ cameras allow for wide-area monitoring and motion-based recording. Furthermore, the BIM is used for space modeling and mapping the locations of intruders in the building. Fusing UWB tracking, video and spatial data can automate the entire security procedure from access control to intrusion alerting and behavior monitoring. Other benefits of the proposed method include higher accuracy and robustness, more complex query processing, and interoperability with other BIM-based solutions. A prototype system is implemented that demonstrates the feasibility of the proposed method.

Aug 1, 2013

By M. Gimpel, R. Galler, T. Antretter, H. Kargl, M. Mikl-Resch, R. Tichy, W. Ecker, G. Pittino

"A computational method based on a continuum-mechanical approach to simulate rock cutting is developed and evaluated. The aim is to obtain the local loading acting at the cutting pick during operation. The explicit FEM is chosen to model the pick-rock interaction. The presented method takes advantage of (i) an advanced material model (ii) a robust contact algorithm and (iii) fast calculations due to parallelization. A damage-plasticity law is chosen and modified with user-subroutines. A user integrated element deletion routine evades critical mesh distortions. Infinite elements at the model boundaries avoid unrealistic deformation wave reflection.INTRODUCTIONExcavation in mining and tunneling is a costly and complex process. Special equipment such as the roadheader (fig. 1) is employed to cut the rock in the excavation process but high material strengths limit their usability (Tockner 1999). Nowadays a challenge is to extend their field of application to harder and more abrasive rock materials. The forces on the pick (fig. 2) are of great importance and determine wear and especially the efficiency of the machine. Figure 2 shows the principle of cutting and the predominant forces. The variation of pick geometry, cutting depth or attack angle will result in an alteration of these forces and determine the efficiency of the process (Tockner 1999). The mechanisms of rock cutting follow the principle of indentation (Kou et al. 1999). Directly under the indenter a hydrostatic stress state evolves causing the material to fail only due to crushing and fragmentation mechanisms. In the close surroundings large strains emerge and tensile cracks are formed but in a further distance the material behaves elastically."

Jan 1, 2015

By Jinsuo Zhang

Investment in coal resource development is affected by a variety of uncertain factors. Investors can make a flexible, strategic decision to achieve the value of risk implicated in those uncertain factors. Therefore, based on real-option theory, we identified key uncertain factors that affect a coal resource investment project, and revealed the formation mechanism of option value in coal resource developing investment project. Then, a multi-factor decision making model was established for a coal resource development investment project with random changes of coal price, interest rate, convenience yield and production cost. Finally, we tested the model and analyzed relevant parameters by applying living data. Our results indicate this model reflects the value of risk implicated in uncertain factors for coal resource development investment, and is able to determine a critical point of decision making change when coal price and production cost varym respectively. By means of parameters analysis, the convenience yield has a positive effect on the project value. The interest rate has a negative effect.

Aug 1, 2013