The CIM Red Lake Branch, in collaboration with CIM’s Management and Economics Society, is pleased to offer the following workshop featuring:
Michael Samis, Ph.D.
Associate Partner, EY
who will deliver a presentation on:
Better Strategic Capital Management with IVRM
Abstract: Volatility in commodity prices and financial markets compounded by technical uncertainty make it difficult for natural resource industry professionals to assess the risk exposures and identify the factors influencing their Strategic Capital Management (SCM) decisions. Integrated Valuation and Risk Modelling (IVRM) methods form a toolkit comprising advanced finance theory, risk management concepts, decision analytics, statistical analysis and numerical methods that can be used to analyze a wide range of SCM problems. Types of applications include comparing alternative project development strategies, innovative financing structures, mergers and acquisitions, corporate portfolio risk and enterprise risk management.
This seminar demonstrates why IVRM is an important extension to the static cash flow models commonly used for investment analysis in the natural resource industries. It includes an extended section discussing how to model commodity price forecast uncertainty and the forecast uncertainty characteristics for a range of metals and energy prices. Case studies are used to illustrate important IVRM concepts and their application to industry problems.
The case studies include: The value and risk management benefits of staged development and financing a project with a streaming (off-take) agreement.
Professionals attending this workshop will improve their understanding of how dynamic cash flow modelling and the IVRM framework can be used to recognize the unique cash flow risk characteristics of individual projects and the how these characteristics influence value and risk at both a project and corporate portfolio level.
BIO: Dr. Michael Samis is a leading Integrated Valuation and Risk Modelling practitioner in the natural resource industries with more than 25 years of mining experience. He has extensive professional experience valuing mining and petroleum projects with complex forms of flexibility and risk. His assignments ranged from exploration stage to late-stage capital investments and include project financing and contingent taxes. In 2013, the CIM awarded Mike with the Robert Elver Award for his contributions to mineral economics. He holds a Ph.D. from the University of British Columbia in mining engineering and finance and is a registered Professional Engineer in Ontario.
Wednesday, March 28, 2018
Workshop at 12:30pm
at
Red Lake Royal Canadian Legion (Branch 102)
31 Highway 105, Red Lake
Ontario P0V 2M0
COST: $50 RSVP to Samuel Lewis 727 3272 (Owen00009@gmail.com by 26 March 2018)
Note: pizza will be by donation as per attendance.
Register by Monday, March 26, to secure your place. Please RSVP by replying to Owen00009@gmail.com if you are interested in attending.
Thank you to our sponsors, Red Lake Royal Canadian Legion (Branch 102), for providing the space, and Atlas Copco.
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