A code for the valuation of mineral properties and projects in South Africa
Bibliographic record
Abstract
The South African Institute of Mining and Metallurgy was approached by the Australian Institute of Mining and Metallurgy to present a paper on the current practice in terms of the valuation of mineral projects and properties, given the development of a Code for the Valuation of Mineral Properties, developed in Australia (the VALMIN Code), and a similar Code in Canada (the CIMVal Code). This paper is the result of research and investigation into the matter, in terms of the reporting of Mineral Resources and Reserves, financial reporting practice, the Listing Rules of the Johannesburg Securities Exchange, and various practices in valuation. The paper establishes that a strong linkage has already been established between the SAMREC Code for the reporting of Mineral Resources and Reserves and the Listing Rules, and that, for completeness, a Code for Valuation needs to be developed. This Code will be similar to its international counterparts, with the necessary inclusions which are relevant to South Africa, and will provide guidelines and definitions on matters such as transparency, materiality and competency in valuation. It proposes that a multi-stakeholder steering committee be established under the auspices of the SAIMM, to deliberate and design a process for establishing such a Code.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.008 | 0.035 |
| Meta-epidemiology (narrow) | 0.001 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.006 | 0.006 |
| Science and technology studies | 0.002 | 0.002 |
| Scholarly communication | 0.003 | 0.003 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.002 | 0.002 |
| Insufficient payload (model declined to judge) | 0.007 | 0.003 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".