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: Vancouver, BC, 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 and financial analysts are challenged with exercising professional judgment on qualitative and quantitative financial material, and 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 and analyzing the financial statements of mining corporations. It isolates select accounting and financial 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 and financial analysis 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 some of 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 expected 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, University of Arizona and University of Concepción. 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 appropriate for anyone interested in gaining some fundamental understanding on how to extract financial intelligence from company financial reports. This is particularly essential to those in the mining management, financial, and investment sectors who do not necessarily possess a financial and/or accounting background.

The course will be of particular interest to mining analysts with a limited financial background, various levels of management (including CEOs, COOs, etc.), fund and asset managers, bankers, lawyers, mining consultants, engineers responsible for development planning, exploration managers and other specialists in the valuation of mineral projects. It will also be of interest to industry-based geologists and engineers, as well as government officials.

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:

  • Overview of financial management (including: Securities Exchanges; Capital Markets; Agency Issue, Ethics & Sarbanes-Oxley Act; Financial Institutions & Markets; Going Public / IPO; Stocks / Dividends Basics; etc.).
  • Principles and authorities underlying accounting reports: basic discussion of IFRS vs US GAAP as it impacts the financial statements of corporations listed on multiple stock exchanges.
  • The Financial Statements (F/S) and the notes: basics and practice (review the main concepts of key financial statements and their respective components). We examine several F/S of mining companies.
  • Performing financial statement analysis (including: statements of comparative and common-size form; ratio analysis; financial distress / forecasting the financial distress of mining companies; etc.).
  • Unstructured: time for exercises, questions and any overlaps from above.
Day 2:

  • Performing financial statement analysis (including: statements of comparative and common-size form; ratio analysis; financial distress / forecasting the financial distress of mining companies; etc.). (continuation from Day 1)
  • 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, and control.
  • Investment in others: concepts equity method and consolidated F/S (mergers & acquisition accounting). Specifically, Consolidation vs. Equity Method of accounting.
  • Understanding the basics of derivatives and hedging, and the accounting for derivatives and for hedging activities.
  • Group in-class project: analysis of mining financials.
  • Unstructured: time for exercises, questions and any overlaps from above.

How to Register

To register yourself, click the ‘Register Now’ button and complete the online registration form.
To register on behalf of someone else, or to register groups of 2 or more, please contact us; discounts may apply.

Questions? Please contact EduMine: +1 604 683 2037 or [email protected] and we will get back to you during regular business hours, Monday - Friday, 8:00am to 5:00pm Pacific Time.

Fees

The fee covers the lecture, access to Pre-Course e-learning, a certificate of attendance, and catered 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 prior to 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. The maximum discount that can be applied is 20%.

Venue

The course will be held at InfoMine Inc, Vancouver, Canada, Suite 640 - 580 Hornby Street, Vancouver, BC. Detailed arrival instructions will be sent to all participants 10-14 days prior to the commencement of the course.

Hotel Accommodation

If you need to make hotel reservations, we recommend the following hotels. Each hotel is within a 5-15 minute walking distance of the course venue and provides convenient access to transportation and 'Canada Line' rapid transit to/from Vancouver International Airport.

When making reservations make sure to ask for the "InfoMine corporate rate".

  • Executive Hotel Le Soleil, named by Resorts & Great Hotels Magazine as "One of the Top 100 Hotels in the World," has been recipient of the American Automobile Association's (AAA) 4-Diamond rating since its opening. Executive Hotel Le Soleil differentiates itself with a unique mixture of stylish sophistication and old world elegance. Featuring 119 luxury boutique lodging accommodations, it is conveniently located across the street from the InfoMine/EduMine offices. Experience Copper Chimney restaurant's award winning chefs and enter into an exotic world of Indian fusion food.
    The Hotel Le Soleil's website is: http://www.hotellesoleil.com.

  • Metropolitan Hotel Vancouver: make yourself at home in one of the Metropolitan Hotel's 197 elegantly appointed guestrooms and suites. Enjoy the Metropolitan's 24-hour Business Center; fully-equipped Health Club with indoor pool, whirlpool, sauna, and squash court; and the Diva at the Met restaurant, a AAA 4-Diamond rated restaurant featuring Vancouver's finest cuisine, celebrated Chef's table, and distinguished wine cellar. The Metropolitan has received a "4 Green Keys" rating through the Green Key Eco-Rating Program.
    The Metropolitan Hotel's website is: http://www.metropolitan.com/vanc/.

  • Vancouver’s most art-full hotel, the Listel Hotel is a cultural tourist’s dream and a showcase for eco-friendly practices. Packed with original art, this 129 room boutique hotel boasts comfortable, contemporary furnishings and a perfect location in the West End, the city’s most eclectic shopping and dining neighbourhood. The hotel is also home to Forage, a pioneer in sustainable restaurant operations and home to Chef Chris Whittaker’s award-winning farm-to-table fare. Forage is known for its small plate dining and BC wine and craft beer on tap.
    The Listel Hotel's website is: http://www.thelistelhotel.com.

  • Days Inn Downtown Vancouver Hotel: experience the modern comforts of the historic full-service business hotel located in the core of downtown Vancouver. Their West Coast hospitality will ensure your stay is as comfortable as possible. Discover true value at the Days Inn Downtown Vancouver Hotel as they provide FREE Wireless Internet, Bottled Water / Tea & Small Business Center. InfoMine’s corporate rate includes $10.00 breakfast voucher, best available room at check-in, Day Pass to Health and Fitness Centre around the corner.
    The Days Inn Downtown's website is: http://www.daysinnvancouver.com/.

  • The Delta Vancouver Suites is a 225 all-suite property designed with business travel in mind. Centrally located in the Heritage District of downtown Vancouver, the hotel is just one block from Waterfront Station, the main hub of the Canada Line providing convenient and economical transportation to/from the Vancouver International Airport. The hotel is in close proximity to many corporate offices, the Vancouver Convention Centre and government offices making business connections easy. Attractions such as Rogers Arena and BC Place Stadium and neighborhoods including Gastown, home to many of the best restaurants Vancouver has to offer are all a short walk away. The Delta Vancouver Suites' website is: http://www.marriott.com/hotels/travel/yvrdv-delta-hotels-vancouver-suites/.

For further information about hotels in Downtown Vancouver, see the following website: http://www.hotels-vancouver.ca/hotels/Downtown.

Terms and Conditions

By submitting a short course registration form, you agree to pay the associated fees in full before the course start date.

Cancellations

Notice of cancellation must be given in writing by letter, fax or email and action will be taken to recover, from the delegates or their employers, that portion of the fee owing at the time of cancellation.

A 10% administration fee will be levied for cancellations made 10 or more business days prior to the first day of the course. Cancellations thereafter will be liable for the loss of the full fee.

EduMine reserves the right to cancel an advertised course on 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 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.