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Minex 2011 World Exploration Trends
- 1. Global Exploration Trends p An Overview of Worldwide Spending David Cox Vice President Metals Economics Group Metals Economics Group MINEX Forum 2011 October 5, 2011 © Metals Economics Group, 2011
- 2. Corporate Exploration Strategies‐Methodology CES is the acknowledged source for worldwide exploration budgets and strategies • 22nd edition of CES in 2011 • More than 3 500 companies directly contacted and More than 3,500 companies directly contacted and interviewed • About 2 400 active explorers are covered 2,400 active explorers are covered • Companies spending more than US$100,000/year • P i Precious and base metals, diamonds, uranium, PGMs, db t l di d i PGM some industrial minerals • A l i Analysis covers about 95% of global nonferrous exploration b t 95% f l b l f l ti © Metals Economics Group, 2011
- 3. Exploration Spend vs Metals Prices, 1993‐2010 Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 4. What Factors Drive Exploration Spending? • Metals prices • Available risk capital • Reserves replacement efforts Reserves replacement efforts • Discoveries • Changing exploration costs • Mining law and investment incentives Mining law and investment incentives • Availability of geological survey information © Metals Economics Group, 2011
- 5. Exploration by Target (% of annual total) Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 6. Worldwide and Russian Nonferrous Exploration Spending by Target, 2010 Worldwide Russia Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 7. Exploration by Stage of Development (% of annual total) Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 8. Worldwide and Russian Nonferrous Exploration Spending by Stage of Development, 2010 Worldwide Russia Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 9. Exploration by Region, 2001‐2010 (% of annual total) Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 10. Top 10 Destinations in 2009 and 2010 2009 2010 Russia 5% Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 11. Exploration by Company Type (% of annual total) Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 12. Cumulative Explo by Company Type, 1998‐2010 (US$ mil) Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 13. Exploration by Headquarters, 2001‐2010 (%) Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 14. Significant Junior and Intermediate Financings Source: MEG Industry Monitor © Metals Economics Group, 2011
- 15. Total Equity Raised by Destination (Gold) 2008 – 1H 2011 Source: MEG Industry Monitor © Metals Economics Group, 2011
- 16. Equity Raised for Exploration Monthly ‐ Gold Source: Exploration Activity Service © Metals Economics Group, 2011
- 17. Equity Raised for Exploration (Gold) 2008 – 1H 2011 Source: MEG Industry Monitor © Metals Economics Group, 2011
- 18. Significant Gold Drill Results Announced, 2008 – Aug 2011 Source: MEG Industry Monitor © Metals Economics Group, 2011
- 19. Total Equity for Development (Gold) 2008 – 1H 2011 Source: MEG Industry Monitor © Metals Economics Group, 2011
- 20. Exploration Spend vs Metals Prices, 1993‐2011 Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 21. Russia’s Share of Total Nonferrous Exploration, 2000‐2011 Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 22. Russia’s Share of FSU Nonferrous Exploration, 2000‐2011 Source: Corporate Exploration Strategies © Metals Economics Group, 2011
- 23. METALS ECONOMICS GROUP www.metalseconomics.com +1 902-429-2880 dcox@metalseconomics.com © Metals Economics Group, 2011