中国矿山工程

The mineral grade of a deposit is an important yardstick for the evaluation of a mine. The ultra-high-grade value has a major effect on the resource estimation of precious and non-ferrous metallic mines, and in turn affects project valuation, hence a key issue to consider in project acquisition. Current practices of handling ultra-high-grade values include average multiples and probability plot. Each of the two has its own merits. This paper is a study of the two methods by comparing their estimation results, providing a reference for Chinese investors in acquiring overseas mines.