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2019 Mineral Systems of the Pacific Rim Congress

Enthalpy’s CEO, Paul harper, presented at the 2019 Mineral Systems of the Pacific Rim Congress in Auckland earlier this week. The presentation covered Improved Reporting of Mining Feasibility Study Results.

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Purpose of our proposal

The share market and mining companies have recognised that greater transparency disclosure is required in the promotion of mining projects to attract a larger proportion of investment funds available in the equity market.

“We propose an improved process for greater transparency around
disclosure and use of Feasibility Studies (FS) to enhance and attract
investment confidence in the resources industry”

Improved reporting of mining “Feasibility Study” results

So why are so many projects failing?

• Fail to establish core technical aspects of geology, mining, metallurgy at study phases
• Ignoring the sustainability and licence to operate aspects
• Prefeasibility studies failing to rigorously find the best investment case
• Thinking bigger will be better – chasing economics by only upsizing the project
• Assuming optimistic commodity prices for the life of mine
• Producing flawed feasibility studies in the rush to get into production
• Not integrating studies at technical, project and business levels
• Inadequate project implementation planning
• Assuming project management should not be difficult
• Not conducting good quality reviews during the study and implementation phases
• Failure in project controls leading to surprises for company directors
• Believing that things go smoothly with a project.

We are not only letting down investors but our industry as well.

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Independent Peer Review & Benchmarking

As part of the AusIMM Project Evaluation conference at in Adelaide Neil Cusworth and Jane Miller presented industry leading thoughts on Independent Peer Review and the use of Benchmarking in capital projects.

In the last 10 years the world mining industry has been through a boom-bust-boom-bust building cycle driven by commodity prices and demand.

The sheer scale of development has caused rapid and huge fluctuations in the availability and cost of materials, equipment, construction resources and services for mine development and operation.

The rate of changes has challenged the governance processes of both Benchmarking and Independent Peer Reviews.

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AusIMM AusIMM Project Evaluation Presentation IPRs and Benchmarking

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Use and Abuse of Feasibility Studies 2016 Update

As part of the AusIMM conference at in Adelaide Neil Cusworth presented an update to the Use and Abuse of Feasibility Studies Paper.

Also winning best presentation as part of the conference.

Projects whose expectations have been set after comprehensive, detailed and integrated feasibility studies and that are then delivered by experienced, integrated teams encompassing all relevant areas of project expertise are able to deliver predictable project outcomes regardless of the inherent project factors or external macroeconomic circumstances.

The impact of the uncontrollable changes in external macroeconomic circumstances will be lessened if all other aspects of a project’s planning and execution are well controlled.

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AusIMM Presentation – Uses and Abuses – 2016 Update

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Enthalpy establishes Western Australian presence

Enthalpy is delighted to introduce Gavin Nunes as Enthalpy’s Principal Consultant based in Western Australia. Gavin has extensive world-wide experience in the mining and resources sector and brings his expertise in project management, engineering and contracting to the Enthalpy team.

Gavin establishes a permanent Enthalpy presence in Western Australia providing services and advice to resource companies backed-up by the broad project management knowledge and experience that Enthalpy has become renowned for over the last three decades.

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Luke Epstein Appointed Associate Partner

Over the past 10 years, Luke has worked as a Regional Project Manager and Engineer on numerous multibillion dollar offshore and onshore infrastructure projects around the world, across the Oil & Gas, Rail and Infrastructure industries. In these roles, he was able to develop his analytical, problem solving, operational improvement, strategic and leadership skills to successfully complete projects in complex operational environments, and to demanding delivery schedules.

He enjoys working with the full spectrum of stakeholders (including executive general management in the office, to multiple teams of operators onsite and offshore) to solve a variety of performance and operational problems. His Clients have included Rio Tinto, Inpex, Chevron and Fortress Group over multiple projects around the world.

Many of these projects Luke has completed were on an intensive Fly-In-Fly-Out basis. His project work has taken him to different parts of Australia, the United States, Singapore and Malaysia and Luke appreciates the intricacies required when working with different cultures to solve problems with clients, influence change, and gain the best results.
Outside of the office, Luke has undertaken multiple leadership, volunteer and entrepreneurial roles with Young Engineers Australia, The Ronald McDonald House and personal start-up ventures respectively.

Having recently completed an MBA from Melbourne Business School and exchange program at ESADE Business & Law School in Spain, Luke is keen to combine his technical engineering, project management and leadership skills, with the additional problem solving and business skills acquired.

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AFR: Blue Sky over Enthalpy Projects

Blue Sky Private Equity has invested in another private business just weeks after establishing its first fund aimed at sophisticated investors interested in the small to medium enterprise sector, buying a 35 per cent stake in project management firm Enthalpy.

Blue Sky Alternative Investments Limited (Blue Sky) is an Australian Securities Exchange listed (ASX:BLA) alternative asset manager with more than $2 billion in assets under management. Headquartered in Brisbane, Blue Sky has offices in Adelaide, Sydney, Melbourne and New York and a team of over 80 investment professionals and support staff.

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Paul Harper Announced as the New Enthalpy CEO

It is with great pleasure that Enthalpy announces Paul Harper has accepted the position as the CEO of Enthalpy.

Paul Harper, BSc Mining Eng (Hons), FAusIMM, GAICS will assume this role from the end of October 2016 when Neil Cusworth steps from CEO to Chairman and Senior Associate.

Paul has experience as a CEO and a leader in the international consultancy services in the resources industry. He brings to the role his strategic thinking to enhance and influence business strategies and leadership to develop high performing teams. In addition Paul has extensive international mining experience in Australia, South and Central Africa, South and North America, which includes broad operational, technical and commercial skills in production, development, contracting and project evaluation.

Commenting on his appointment, Paul said: “I am honoured and excited to have been selected to lead such an innovative and successful company as Enthalpy. My mission is to continue driving Enthalpy into the next phase of growth. Enthalpy assists their clients to invest wisely and effectively manage their capital funding for projects. I am impressed that Enthalpy is more than a Project Management consultancy company. Enthalpy certainly has the tools and expertise to realise the true value of projects.

I am a believer in establishing long term professional relationships – it is a journey and not just reaching a destination! So I am certainly looking forward to engaging with Enthalpy’s staff and customers to be part of a team that really does make a difference”.

We are delighted that Paul Harper is joining to lead Enthalpy as the company’s CEO, continuing to build on the solid foundation and reputation of Enthalpy.

Neil Cusworth
Non-Executive Chairman & Senior Associate

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Mineral Industry Technique Award (2012)

We’d like to congratulate Neil Cusworth on a recent AUSIMM Award that he received.  Neil is one of a small number of distinguished contributors to the Australasian Institute of Mining and Metallurgy (AusIMM) and the minerals industry that have been recognised in the 2012-2013 AusIMM Awards.  These honours are awarded to distinguished professionals who have made significant contributions to their Branches, the Institute and the industry. Neil was awarded the Mineral Industry Technique Award in recognition of his contribution in developing innovative, cost saving and effective techniques in the minerals project sector.

The awards were presented at The AusIMM Annual Awards Dinner on Saturday 15 June 2013 in Sydney, New South Wales.  The presentation had the following to say about Neil:

Neil is a fellow of the AusIMM, current director, former managing director and founder of Enthalpy’s Australian and South American operations. He has a project management engineering career spanning almost four decades in the resource sector with experience in minerals, oil and gas and industrial building sectors. Neil has worked extensively and globally on assignments as a project manager and director and has undertaken a variety of specialist advisory assignments since 1996. In particular he has developed best practice systems and standardised procedures for project management for multinational corporations. Antofagasta Minerals, Barrick Gold, BHP Minerals and Billiton Plc, Codelco, Falconbridge and Stanwell Corporation have confidently incorporated these systems into their corporate processes. A mechanical engineer by training with multi-discipline skills and an orientation towards commercial and project control aspects of the mining, resource and industrial sectors, Neil is a Fellow of The Australasian Institute of Mining and Metallurgy (AusIMM), and a Member of the Institution of Engineers. Neil made a major contribution to the early chapters and overall committee work for the AusIMM Cost Estimation Handbook 2nd Edition – Monograph 27, freely allowing his proprietary procedures to be adapted to the Handbook for the benefit of the industry.

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The Enthalpy Story Told: do the project right

For the past 25 years, Enthalpy has been working quietly in both the board rooms and on the shop floor for many of the world’s largest and newest companies. We are well known to our many clients but recognised by few outsiders. Today, we have decided to pull back the curtain and let the rest of the world know how we have been assisting our clients to select the right project, and do the project right. Today, we have released our new website detailing a snapshot of our 25 years of experience in multiple industries across multiple continents. We look forward to our next 25 years and becoming better known to many more.

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