The Economics of Mining and Other Risky Ventures

CIM Bulletin, Vol. 71, No. 791, 1978

A. P. LeBis, Economist, BP Exploration Canada Limited, Calgary, Alberta

This article attempts to relate the concept of utility to the risk involved when only a small number of projects (compared to their probability of occurrence) are accessible to a firm, and to quantify utility when other financial and physical parameters are known.
Keywords: Mineral economics. Utility functions, Mine financing, Financial reports, Project valuation, Investment strategies.
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