5th Annual Current Trends in Mining Finance Conference

SRK Presentation:
"Financial Reporting for All-in Costs, Especially Streaming Costs"
By Grant MalensekPrincipal Mineral Economist (SRK Denver)
For precious metal companies, the standard (non-GAAP) cost reporting methodology are the guidelines first published by the World Gold Council (WGC) in 2013 and consist of three components: Adjusted Operating Costs, All-in Sustaining Costs (AISC), and All-in Costs (AIC).  Most precious metal mining companies have adopted some versions of AISC and AIC metrics in their public disclosures.  While it has been long recognized that the WGC guidelines currently exclude all financing costs, income taxes, and working capital, this presentation proposes a “Modified AIC” that captures project financing costs (including streaming and royalty financing) along with income taxes and working capital.  The main benefit of this Modified AIC makes it easier to determine the health of a company or project – either for a quick margin analysis per oz. of metal sold or when adding up positive cash transactions and subtracting AIC to determine how much cash the company has generated for a certain time period as “Distributable Cash Flow”.
Tuesday May 2, 2017
Shearman and Sterling, LLP
599 Lexington Ave.
New York, NY
SME Description:
The 5th annual Current Trends in Mining conference is an opportunity to meet one on one with and hear many leading mining industry executives and experts with plenty of time for audience Q&A and networking. The format allows delegates to get your questions answered by many leading mining and finance experts and advisors at the Sunday Dinner, breakfasts, refreshment breaks, lunches and evening receptions and workshops.

The focus of the Conference will be about the outlook, trends and issues that affect capital raising in the global mining industry. Speakers at the conference and workshops will present case studies about how management and investors can employ best practices and technology to anticipate, track and manage the technical and non-technical risks associated with mining projects.

Intended for senior executives and mining industry specialists, bankers, financial analysts, investors, portfolio managers, and engineers, the 2017 CTMF events will bring experts together to discuss trends and a range of topics, solutions, risks and where opportunities are.
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