Updating Probabilities for a Mineral Exploration Project

Bell, Peter (2018): Updating Probabilities for a Mineral Exploration Project.

Abstract

This paper describes a mineral exploration project conducted by a junior mining company within a probabilistic framework. In particular, it shows how beliefs about a project can be updated in response to a series of new pieces of information about the project associated with exploration activities using subjective probabilities. Several alternative frameworks are briefly mentioned as ways to improve on this simplified model.

• Item Type: MPRA Paper
• Language: English
• Keywords: Mineral Exploration, Subjective Probability, Uncertainty, Information,
• Subjects: C - Mathematical and Quantitative Methods > C0 - General > C00 - General; C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical Methods; G - Financial Economics > G1 - General Financial Markets

References

Bell, Peter (January 30, 2018). 8 Kilometers of Displacement for Tim Marsh and Bell Copper $BCU at Kabba, AZ. Retrieved from https://ceo.ca/@newton/8-kilometers-of-displacement-for-tim-marsh-and-bell-copper-bcu-at-kabba-az

Einstein, H.H., Baecher, G.B (1983). Probabilistic and statistical methods in engineering geology. Rock mechanics and rock engineering, 16, 39-72. https://doi.org/10.1007/BF01030217