Reaching YOUR Individual Goals within the Mineral Exploration
- Slides: 19
Reaching YOUR Individual Goals within the Mineral Exploration Industry ENTREPRENEURSHIP
Summary: Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit". While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to "lack of funding, bad business decisions, an economic crisis, lack of market demand—or a combination of all of these. Reaching YOUR Individual Goals within the Mineral Exploration Industry ENTREPRENEURSHIP
Types of entrepreneurs Intrapreneurs • Work within a company Entrepreneurs • Work independently
• History – a summary • Fundamentals • Progress in the Geology Track • Types of entrepreneurs • Psychological makeup • Entrepreneurship Training and Education Contents • Resources and Financing
A Summary of my work to give you perspective HISTORY
History Basics • 10 years in Nevada, Idaho, California Discoveries as Employee • Magistral, Sinaloa 1995 • Ocampo, Chihuahua 1996 Discoveries as Entrepreneur • • Palmarejo, Chihuahua 2003 Commonwealth, Arizona 2011 Cerro Hermoso, Peru 2016 Copalquin, Durango 2016 -
Progress as Intrapreneur History • Man on Foot Exploration – 2003 • Grubstake agreement – Palmarejo discovery • Within company Bolnisi Gold First Attempt as Entrepreneur • Minera El Tascate - 2004 • Santa Gertrudis • Company failed Progress as Entrepreneur • Commonwealth Silver - 2011 • Successful discovery • Successful sale of company • Puno Gold Corp – 2016 • Exploration drilling STILL pending • Successful sale of company • Sun Minerals PTY, LTD • Copalquin, Durango 2016 • Usted Guarda • New industry • Project currently drastically overbudget
Fundamentals Where are you now? • Degree in Geoscience • About 5 years of experience • Starting to see the difference between Academia and Industry Where do you want to go? • Project Team Leader • Exploration Management • Company Director • Company Founder
“Most scientists are button -sorters and bottlewashers” -Robert Heinlein Basic Exploration Skills • Soil sampling/Gridding • Core logging/Chip logging • Accurate, Neat Data Recording • Field Skills • Computer Skills/Instrumentation Fundamentals
Steps along the Geology Career Track Level: 5 – 10 years Learn the Process, not just the Practice • Sampling – Spacing, Extent, Field Sample Prep • Drilling – Basic Geostatistics, Resource Classification • Hand drawn cross sections • Remote Sensing and Geophysics • Analytical Techniques • Mapping, mapping
Steps along the Geology Career Track Level: 5 – 15 years Get MORE TRAINING • Geologic Modeling – Mapinfo, Arc. Map, Leapfrog, Vulcan, Minesight • Database – validation, data import, vetting against paper records • Camp skills – First aid, cooking, survival • Management techniques • Gantt charts – scheduling • Specific times for calls, emails
Steps along the Geology Career Track Level: start today! Build your list of contacts • Cat Operators • Drillers • Assay Lab Managers • Landmen (Peritos Minero) and Surveyors • Lawyers • Remote Sensing and Drone companies • Software Developers • Geophysicists • Concession Owners
Steps along the Geology Career Track Level: 10 – 15 years Become a true professional • Get Registered • AIPG • SME • Aus. IMM • Get Published • Peer reviewed journals • Other publications • Attend International Conferences • • PDAC conference (Toronto, February) Vancouver Gold Show Florida Gold Show London Gold Show
Getting an Internationally Recognized Professional Registration AIPG – Certified Professional Geologist Benefits • 4 year degree in Geosciences • Verification of curriculum • 8 years progressively responsible experience • 3 sponsors, 2 of which must be CPGs • Level the playing field, increase salary • Participate in writing Technical Reports (NI 43 -101)
Risk takers Already involved in Research and Development Optimists Leaders Psychological makeup
95% of people 5% of wealth E You have a job 5% of people 95% of wealth B You own a system People work for you S I Investor You own a job Money works for you Be prepared before moving between quadrants Robert Kiyosaki’s Cash Flow Quadrants
Pieces of the Puzzle Idea – Intellectual Capital • Usually centered around an Exploration Project Business structure – Corporation Team – Partners and employees Money Financial Capital
Entrepreneurial Education and Training Intrepid Explorer – J. David Lowell Exploration Cannons – Sig Muessig Rich Dad Poor Dad and Cash Flow Quadrants – Robert Kiyosaki Entrepreneurial Education Programs – World Bank Find a Mentor
Resources and Financing FIFOMI Exploration Companies – Grubstake Agreements Investment Banks – will invest in newly established companies Individual Investors – Risky Reduce your personal financial exposure, but do not expect to start a company without some of your own capital
- Strategic goals tactical goals operational goals
- Strategic goals tactical goals operational goals
- Reaching out from within
- Mineral exploration and mining active reading
- When i found the joy of reaching your heart
- Your money your goals toolkit
- Design is achieving goals within constraints
- Design is achieving goals within constraints
- General goals and specific goals
- Motivation in consumer behaviour
- Give us your hungry your tired your poor
- Reaching for the infinite heart
- Chapter 22 reaching out cross-cultural interactions
- Reaching wellness through lifestyle management
- Rank the strategies for reaching global markets
- Chapter 22 reaching out cross-cultural interactions
- Chapter 22 reaching out cross-cultural interactions
- Salvation of hinduism
- Reaching forward to those things which are ahead
- Living beyond yourself