GREY:PCGLF - Post by User
Post by
TERRIBLEon Oct 19, 2010 9:26am
401 Views
Post# 17581082
junior expl
junior explInteresting....to say the least!!!
.
success rates....
the following is information garnered from paragrahs 5, 6, 7, 8 of an article entitled
" how to profit on the road to failure"
.............................
in the early 1990's, the director of a major mining company wanted to compare their exploration successes to their failures. An evaluation of all projects where $1,000,000 or more had been spent on exploration, revealed that out of over 2,000 projects, only 6 or 7 produced a mine.
....................................................
success rate 7 / 2000 = 0.35 %
current [2010] exploration technology would probably provide a higher success rate.
In the last 15-20 years, if our exploration expertise has improved by a factor of 4:success rate 28 / 2000 = 1.4 % ( 1.4 mines from 100 projects )
-------------------
to view complete article :
...kitco.com
...kitco contributed commentaries
...Richard S Appel 2005 "how to profit on the road to failure"
----------------------------------