These 30+ Seconds of Reconciliation Info are from Ian Glacken our Director of Geology.
What are the F-Factors?
The F-Factors, or F-Series metrics, are the closest thing we have to a ‘standard’ for reconciliation. They were first proposed and described by Harry Parker in 2006 and have been adopted to various degrees and in various ways by most of the major minerals companies. The three key things to reconcile are the short-term (grade control) tonnage and grade figures, the longer-term (resource or reserve) tonnage, grade and metal, and the ‘product’, i.e. the tonnage, grade and metal from the plant (plus the residue or tails). F1 relates the short-term to the long-term predictions (on the mine side), F2 measures the as-mined (short-term) to the as-produced from the mill or plant, and F3 is an indication of the conversion of the resources or reserves to product (plus tails). Of course, it’s never as simple as this at most operations, but deriving F1, F2 and F3 (or whatever you wish to call them) is a great start.
Ian Glacken BSc (Hons) (Geology), MSc(Mining Geology), DIC, MSc(Geostatistics), Grad Dip Computing, FAusIMM(CP), FAIG, MIMMM, CEng
Ian is a geologist with postgraduate qualifications in geostatistics, mining geology and computing who has more than 35 years’ worldwide experience in the mining industry.
Ian’s skills are in resource evaluation and due diligence reviews, public reporting, training and mentoring, quantitative risk assessment, strategic advice, geostatistics, reconciliation, project management, statutory and competent persons’ reporting and mining geology studies.
Ian has a strong mining production background and is a regular auditor for the world’s largest mining companies.