545-0188/01 – Valuation of mineral deposits (OLNS)
| Gurantor department | Department of Economics and Control Systems | Credits | 5 |
| Subject guarantor | Ing. Markéta Laštůvková, Ph.D. | Subject version guarantor | Ing. Markéta Laštůvková, Ph.D. |
| Study level | undergraduate or graduate | Requirement | Compulsory |
| Year | 2 | Semester | winter |
| | Study language | Czech |
| Year of introduction | 2021/2022 | Year of cancellation | |
| Intended for the faculties | HGF | Intended for study types | Follow-up Master |
Subject aims expressed by acquired skills and competences
The student will be able to explain the process and methodology of valuation of mineral deposits. The student will be able to apply the valuation methodology to a given deposit of minerals. The student is able to quantify the discount rate in relation to risks. The student understands the expert opinion and is able to interpret its conclusions.
Teaching methods
Lectures
Tutorials
Project work
Teaching by an expert (lecture or tutorial)
Summary
The course is focused on the processes of valuation of mineral deposits. Students will gradually get acquainted with the relevant legislation and the basic structure of the process of valuing reserved and non-reserved deposits in the Czech Republic. Relevant valuation methods, including methods of determining the discount rate, are explained to students. An integral part of the course are also case studies in which the student acquires the methodology of valuation of real estate and movable property, the existence of which is an infrastructural condition for the implementation of opening, mining and processing processes in a mining company. All knowledge used in teaching respects the applicable mining legislation, legislation for property valuation and is based on current best practice
Compulsory literature:
Recommended literature:
BLACKLEDGE, M. Introducing Property Valuation. 2nd Edition, Routledge, 2016. ISBN: 978-1-1389-2995-1.
VENTOLO, W. L., WILLIAMS, R. M. Fundamentals of Real Estate. Appraisal 13th Edition. Dearborn Trade Pub, 2018. ISBN: 978-1-4754-6380-4.
The JORC Code 2012 Edition.
Pan-European Code for Reporting of Exploration Results, Mineral Resources and Reserves (PERC).
Way of continuous check of knowledge in the course of semester
Prezentace výsledků seminární práce. Předmět zakončen písemnou a ústní zkouškou.
E-learning
Pro e-learning je využíván univerzitní elektronický výukový systém Moodle (lms.vsb.cz).
Other requirements
Active participation in the semester project.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Fundamentals of mining and geological legislation
2. The complete production cycle in mining and its operational and investment financing
3. Legislative framework of property valuation in the Czech Republic
4. Valuation of property in the mining industry, valuation principles
5. Basic terminology in the valuation of deposits and mining companies
6. System concept of valued deposit and mining company
7. International Valuation Standards IVSC 2000
8. Methodology of valuation of deposit and property of mining company
9. Principles of determining the value of a mining company
10. Yield methods, calculation of free cash flow - FCFE method
11. Approaches to determining the discount rate and capitalization rate for real estate
12. Analytical relations for determining the value of deposit reserves
13. Syllabus of expert opinion on the valuation of the deposit and the value of the mining company's property, case study of mining company valuation - list of initial documents
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction