Analysis of Mining Financials

Analysis of Mining Financials

Areas of Study: Management

Qualifies for CMS

Short Course Short Course
  • Audience Level: Professional Tool Tip
  • Dates: Unscheduled Tool Tip
  • Early Bird: Tool Tip
  • Enrollment: Included Tool Tip
  • Registration Fee: Tool Tip
  • Location: Toronto, ON, Canada Tool Tip
  • Duration: 2 days
  • CEUs: 1.6 (16 PDHs) Tool Tip

Course Summary

Summary

This course will enable you to develop an awareness of the relevant financial information you can discover about a mining corporation from its audited financial statements. You will also have an appreciation for how accountants are challenged with exercising professional judgment on qualitative issues involving alternative accounting standards, balanced with a need for numerical precision. You will recognize that professional judgments included in financial assessments are similar to those made in demonstrating probable and proven mineral reserves.

"Analysis of Mining Financials" uses the business environment in the mining industry as a relevant context for understanding the financial statements of mining corporations. It isolates select accounting aspects as being fundamental to your becoming an informed reader of audited financial statements . . . including balance sheets, income statements, cash flows statements, statements of shareholders' equity and the audited notes. Examples of financial statements of both large and small mining companies are used and analyzed to illustrate these fundamentals.

The course draws on credible sources to highlight relevant characteristics of accounting for mining. The objective of this material is to identify some prominent aspects of financing the corporate mining strategy, delve into the distinct areas where there are issues in accounting for the mining industry, and summarize the risks that are inherent in understanding the financial statements of those involved in mining. The course provides the tools to establish a profile of a company's overall financial status and identifies the attributes that contribute to financial health and flexibility.

Participants are advised to bring a laptop computer (with MS Excel).

Pre-Course e-Learning

Prior to the course, registered delegates have access to the online e-learning material consisting of an introductory course titled Understanding Financial Statements of Mining Companies.

Certificate in Mining Studies

This course qualifies for two days of short course credit for the Certificate in Mining Studies (CMS), a continuing education program of accredited short courses, webcasts and online courses for lifelong learning in mining, supported by University of British Columbia and University of Arizona. more details »

Continuing Professional Development (CPD)

Registered participants who attend the entire short course and complete an evaluation at the end of the course will receive a Certificate of Attendance, confirming the Professional Development Hours (PDH)/Continuing Education Units (CEU) earned. Please confirm with your employer and/or professional association that this course qualifies for CPD.

Who Should Attend?

This course is designed for anyone interested in knowing how to extract financial intelligence from company reports, and to those in the mining financial and investment sectors who do not have a strong accounting background.

Carlos da Costa

Carlos da Costa is a lecturer at Simon Fraser University, Canada, where he offers graduate risk management and finance instruction within Beedie School of Business' MSc in Finance, Executive MBA, and Management of Technology MBA programs. He is also an instructor at the University of British Columbia, Canada, where he provides resource finance and economics instruction within the Mining Engineering undergraduate and Master of Engineering (MEng) postgraduate programs.

In addition, Carlos is a PhD candidate at the University of British Columbia, focusing on resource (mining and energy) finance and economics, and a seasoned financial professional with solid experience in financial derivatives, market and credit risk management, financial engineering, and computational investment management.

He also leads PRMIA's Vancouver Chapter (Professional Risk Managers' International Association) as its Regional Director and is the Chair of the Management & Economics Society (MES) of CIM (Canadian Institute of Mining, Metallurgy and Petroleum).

Provisional Schedule

Instruction will take place from 9:00am to 5:00pm each day, with a lunch break from noon to 1:00pm and 15 minute coffee breaks in mid-morning and mid-afternoon.

Day 1:

  • Principles and Authorities underlying Accounting Reports: Basic discussion of IFRS vs GAAP as it affects reports by Canadian corporations with shares traded on Canadian and foreign stock exchanges.
  • The Financial Statements: Four basic Financial Statements (F/S) and the Notes: theory and practice (review of key financial statements concepts). We examine several F/S of mining companies.
  • Assets: Investments in marketable securities, current accounting treatment, long-term assets, mineral properties and reclamation costs.
  • Discounting future cash flows: general concept and application to impaired assets and to reclamation costs.
  • Liabilities: long term financing, banks, bonds and discounting. Other long term liabilities and related present values.
  • Debt, asset retirement and other PV/Discount applications.
  • Unstructured: time for exercises, questions and any overlaps from above.
Day 2:

  • Shareholders' Equity section of B/S: different kinds of shares, options, convertible securities. Treasury shares in jurisdictions that allow such.
  • Earnings per Share (EPS) and other measures of performance, effect of dilutive securities on EPS.
  • Investments in others: passive, significant influence, control.
  • Investment in others: concepts equity method and consolidated F/S (mergers & acquisition accounting). Specifically, Consolidation vs. Equity Method of accounting. Class exercises as desired.
  • Basics: accounting for derivatives and hedging.
  • Investment in others: mergers & acquisition accounting.
  • Unstructured: time for exercises, questions and any overlaps from above.

How to Register

Complete and return the registration form by fax: 604 681 4166 or email: [email protected].

If you have any questions you can contact EduMine by phone at +1 604 683 2037.

Fees

The full fee for the two day program is CAD 1,700 + tax. The fee covers tuition, a comprehensive set of course notes, access to EduMine e-learning, a certificate of attendance, continental breakfasts and lunches including light refreshments. The fee does not cover accommodation.

Early Bird: there is a 10% discount if you register at least 30 days before the course start date.

* A 10% discount is offered for groups of 3 or more OR if you provide your Annual EduMine subscription User ID at time of registration.

* These discounts cannot be combined.

Venue

The course will be held at the Metropolitan Hotel Toronto which is located at 108 Chestnut Street in downtown Toronto.

Hotel Accommodation

If you need to make hotel reservations, we recommend the following hotels. When making reservations, be sure to ask for the “InfoMine corporate rate”.

  • Situated at the crossroads of Toronto’s financial, research and entertainment districts, the Metropolitan Hotel offers a quiet retreat set amongst a vibrant urban locale. With 426 guestrooms and suites the Met Toronto is ideally suited for modern business professionals and leisure seekers alike. You won’t even need to leave the hotel lobby to enjoy some of Toronto’s finest dining experiences. The Met’s Hemispheres Restaurant & Bistro presents an eminently delicious menu with a tranquil backdrop, while the award winning Lai Wah Heen offers the height of Chinese cuisine in an exquisite setting. The MET provides easy access to Pearson International Airport, and is equipped with an indoor pool and fitness centre, business centre, and wireless high speed internet access.
    The Metropolitan Hotel’s website is: http://metropolitan.com/toronto/

Continuing Professional Development (CPD)

Short courses earn PDH/CEU credits for engineers in provinces and states that have CPD requirements. EduMine is an approved provider of continuing education by the Authorized Provider Commission of The International Association for Continuing Education and Training (IACET).

For more details, check provincial or state requirements.

Certificate of Attendance

Provincial/state regulations for CPD require that you attend the entire short course and that you complete an evaluation at the end of the course. Your Certificate of Attendance, with earned PDH, is issued on completion.

Cancellations

A 10% administration fee will be levied for cancellations made up to two weeks prior to the start of the course. Cancellations thereafter will be liable to the loss of the full fee. Notice of cancellation must be given in writing by letter or fax and action will be taken to recover, from the delegates or their employers, that portion of the fee owing at the time of cancellation.

EduMine reserves the right to cancel an advertised course at short notice. It will endeavour to provide participants with as much notice as possible, but will not accept liability for costs incurred by participants or their organisations for the cancellation of travel arrangements and/or accommodation reservations as a result of the course being cancelled or postponed. If a course is cancelled, fees will be refunded in full. EduMine also reserves the right to postpone or make such alterations to the content of a course as may be necessary.