Short Courses and Conferences

Using Dynamic DCF and Real Options to Value, Manage, and Design Mining Projects

June 10-12, 2015


  • Dr. Michael Samis, P.Eng. is a leading Dynamic DCF Real Options practitioner in the natural resource industries with more than 25 years of mining experience. He has extensive professional experience valuing base and precious metals, diamond, and petroleum projects with complex forms of flexibility and risk. His assignments have ranged from exploration stage to late-stage capital investments and have also included analysis of project financing and contingent taxes on project economics. Mike has also presented more than 30 professional courses on advanced valuation at universities, natural resource companies, and professional organizations world-wide and has published or presented numerous valuation papers about flexible pushback development, multi-stage exploration programs, windfall taxes, and the economic impact of project finance and hedging.

    Dr. Samis is a registered Professional Engineer in Ontario, Canada, and a qualified person for project valuation under NI43-101 guidelines. In 2013, the Canadian Institute of Mining and Metallurgy awarded Mike with the Robert Elver Award for his contributions to the Canadian mining industry in the field of mineral economics. He holds a Ph.D. from the University of British Columbia that combines the fields of mining engineering and finance. Dr. Samis is currently an Associate Partner (Valuation and Business Modelling) in Ernst and Young'€™s Toronto office where he also values complex financial securities such as employee stock options, convertible debt with embedded derivatives, contingent contracts, and interest rate, commodity, and foreign exchange derivatives.
  • Dr. Graham A. Davis is William J. Coulter Professor of Mineral Economics at the Colorado School of Mines. Dr. Davis has a bachelor’s degree in Metallurgical Engineering, an MBA, and a Ph.D. in mineral economics. He is recognized as an expert in applying Real Options to real world problems, and has undertaken Real Options valuation projects for government and private organizations worldwide. At the Colorado School of Mines he teaches the world’s only 15-week graduate-level course on real options applications in the mining and petroleum industries.

Dr. Samis and Professor Davis have been continually presenting and extending their Dynamic DCF and Real Options course since 2002. They have also consulted with many corporations in the mining and energy industries and bring these experiences into the classroom through discussions and case studies.

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