RPMGlobal is pleased to announce it has entered into a share purchase agreement to acquire Canada-headquartered, inventory optimisation management software company, IMAFS.
RPMGlobal has announced the release of its newest integrated mine planning and scheduling product which has been specifically tailored for the Underground Potash industry.
RPMGlobal is pleased to announce the launch of its first Software as a Service (SaaS) product, providing mining companies with the capability to undertake haulage calculations in a cloud environment.
When economic unpredictability strikes, it’s paramount that managers have control of a mining company’s financial situation.
RPMGlobal has unveiled major functionality upgrades in the latest release of its dedicated asset lifecycle costing software—AMT, designed to accelerate the maintenance budget generation process for miners.
RPMGlobal has now released an update to its Parametric Design suite of software products specifically tailored to the underground metals space.
XECUTE minimises data entry and maximises planning value, adaptability and agility by using automation to connect planning with operations, with 3D crossteam collaboration, and integrated design and scheduling.
RPMGlobal has yet again set a new benchmark in the mine planning software industry by introducing longwall support to its Underground Coal Solutions (UGCS) software product.
This quarter's edition investigates Semi-Autogenous Grinding (SAG) Mills.
Para desbloquear valor adicional y tener éxito en la transformación digital, es crítico obtener los fundamentos correctos.
RPMGlobal is pleased to announce it has joined forces with The University of Western Australia’s (UWA) Energy & Resources Digital Interoperability Industry 4.0 (ERDi i4.0) Testlab along with Enterprise Transformation Partners (ETP) to help advance standards-based interoperability for the mining industry.
To unlock additional value and succeed at digital transformation, it’s critical to get the fundamentals right.
RPMGlobal is pleased to announce the acquisition of Canada-headquartered mine scheduling optimisation company, Revolution Mining Software.
RPMGlobal's MinVu Mining Management Software is an integral component of the digital mine in providing a single source of truth for mining data.
Our continued commitment to delivering innovative solutions gathered pace in the 2020 Financial Year. In total, we completed 68 software releases with many enhancements that will help drive ongoing productivity improvements for our global customer base.
We review some of our major new software developments for the year that was.
Leading mining equipment hire company National Plant & Equipment has successfully increased fleet availability during a heightened period of growth after implementing RPMGlobal’s leading asset management solution, AMT ™.
This quarter's edition investigates Demystifying Environmental and Social Performance
Arianne Phosphate’s Lac à Paul phosphate project in Quebec, Canada is another step closer to development after RPMGlobal’s leading mining simulation product enabled the company to optimise key haulage routes for its development.
RPMGlobal has released an array of significant new improvements to its cutting-edge scheduling tool, XPAC Solutions, which fundamentally changes the technology’s underlying architecture and paves the way for deeper collaboration among mine planners.
RPMGlobal and Modular Mining have extended their partnership agreement with a collaboration that will see the delivery of a new industry standard Application Program Interface (API).
RPMGlobal has continued to play a pivotal role in the development of the International Society of Automation (ISA-95) committee’s latest Information Exchange Profile which will pave the way for industry-specific integration scenarios for the mining sector.
The face of mining is changing, and continues to evolve as innovative and disruptive technology underpins an array of fundamental shifts across the mining value chain. From exploration, through to mine planning and ore processing, accelerated adoption of digital technologies across the sector has created new mining roles that never existed a mere decade ago.
MinVu Shift Manager, RPMGlobal’s intra-shift software solution, has received a major overhaul with the launch of a dedicated app which is set to transform the way miners collaborate, receive and analyse information.
RPMGlobal has unveiled a new addition to its suite of best-in-class mining simulation solutions, launching TALPAC-3D to help miners unlock greater potential value from operations.
This quarter's edition investigates a Framework for Interpreting Geological Uncertainty in Mine Planning.
RPMGlobal has bolstered its in-house Environmental, Social and Governance (ESG) capabilities after announcing the appointment of Luke Stephens - Principal Social Specialist, to the company’s Consulting & Advisory division.
This quarter's edition takes a look at 'Geological Uncertainty in Mine Planning'.
RPMGlobal has launched a new version of its dedicated asset lifecycle costing software—AMT—that is designed to complement SAP’s Intelligent Asset Management offering.
RPMGlobal (RPM) has released a raft of comprehensive upgrades to its advanced mine scheduling software — XECUTE— underpinning increased optimisation across the entire mining value chain.
RPMGlobal (RPM) has delivered on its commitment to release an innovative design solution to the market before the end of the year, unveiling its Underground Metals Solution (UGMS) Optimiser edition for mine planning customers.
RPMGlobal and MineWare’s game-changing planning and monitoring development collaboration has been shortlisted for Australian Mining’s 2019 Prospect Awards in the Innovative Mining Solution category.
RPMGlobal’s (RPM ®) advanced mine planning and scheduling software — XECUTE ® and XPAC ® Solutions — are already used extensively around the world across various commodities and mining methods. The significant growth in sales of these products can be attributable to both their innovative nature and the fact that more organisations are starting to realise the power connected solutions can deliver to their planning functions.
This quarter's edition takes a look at 'Choosing the Appropriate Estimation Method'.
If you can’t trust your numbers then how can you trust your decisions?
RPMGlobal has reached a significant milestone as the organisation celebrates 50 years of delivering premier consulting and advisory services to the global mining industry.
RPMGlobal has strengthened its consulting expertise after appointing Avakash (Akoo) Patel, P.Eng., to President of the Americas region for its Consulting & Advisory business.
In the pursuit of operational excellence, it’s paramount that managers have the ability to see the entire picture of a mining company’s financial situation.
The next-generation Volvo Site Simulation uses enhanced real-time data to help customers optimize site productivity and maximize profitability.
Paul Beesley explores why the adoption of industry standards is crucial when implementing an integrated operational platform.
The ‘4th Wave of Productivity’ with Simon Askey-Doran
Darren Rostron explores Zero-Based Budgeting (ZBB) and how a ZBB approach can ensure true cost control within a mining business.
RPMGlobal's Digested View of PWC's Mining Industry Outlook 2018
RPMGlobal's Joe McDiarmid discusses mining investment in episode 18 of the Western Australian School of Mines Alumni podcast.
Virtual Mine Management and Training Article with Adam Price
Part 3 of Austmine's Optimising Maintenance Measures Series with RPMGlobal's expertise. The webinar takes a look at a holistic approach to maintenance with an emphasis on reliability analysis, dynamic lifecycle costing and integration with other systems.
Discover how Steep Coal Solution (SCS) can be used to meet the demands of your unique mining method.
Here we take a look at XERAS Enterprise's plan versus actual and variance reporting. XERAS Enterprise identifies how changes have impacted the plan and allows users to react faster with improved decision-making capabilities.
Discover how HAULSIM can connect fleet assets, mining operational plans and the people to build a 'digital twin' of any mining operation - open pit or underground - to deliver an accurate representation of any mine sites haulage operations.
Read more about the benefits Quarry Solutions can give to your mining operations.
Discover how Stratigraphic Metals Solution (SMS) can be used to meet the demands of your unique mining method.
Learn more about RPMGlobal's OSS and how it is changing the way in which engineers are planning and scheduling their operations.
Learn how Underground Metals Solution (UGMS) has become the benchmark for Underground Metals software.
Learn more about the industry leading scheduling solution for open pit metal operations.
Learn more about the features that make OPDS the industry standard for mine planning and scheduling.
Learn how XACT can give you the flexibility and control to collaborate across departments and deliver "do-able" plans for this shift and the next; today, tomorrow and beyond.
Discover how XECUTE minimises data entry and maximises planning value, adaptability and agility by using automation to connect planning with operations, with 3D cross-team collaboration, and integrated design and scheduling.
Understand why OCPS is the leading scheduling solution.
Learn more about RPM's OCCS and the benefits it can provide your mining organisation.
Learn more about the benefits of RESERVER to your mining operations.
Learn how XPAC Solutions has combined RPMGlobal's (RPM) 40+ years of deep mining expertise with the latest advances in technology, mathematics and 3D computational geometry.
Learn why AMT is the solution of choice for the world's leading OEM's.
Learn more about how DRAGSIM helps you find the right fit for your mine site.
Learn how you can improve equipment performance and lower operating costs with AMT for Contractors.
Learn more about AMT, the only in-shift maintenance solution that dynamically links to life-cycle costing and strategy to provide an accurate life-cycle position and optimal maintenance strategies.
Learn more about XERAS desktop and how it can benefit your mining organisation.
Understand the benefits XERAS Enterprise can bring to your mining organisation.
Discover how SIMULATE enables OEM's to leverage customer data to build a 'digital twin' of any mining operation - open pit or underground - to deliver an accurate representation of any mine sites haulage operations, actively demonstrating the value certain equipment and services can provide.
Learn how TALPAC can evaluate the efficiency, productivity and economics of truck and loader haulage.
Learn about how Shift Manager is the solution for short term planning and execution that allows transparency so users can collaborate and communicate through a single integrated web based plan.
Discover how mining companies are using TALPAC Underground Coal to investigate their options and increase productivity on their longwall.
Learn how mining companies are transforming their operations using MinVu to gain real time insights across the operational mining value chain.
OCCS is 100% script-free, and made up of pre-defined logic, which, when combined with the tacit knowledge of mining engineers, automatically determines what is practically possible to achieve across one or many mining operations. This agility gives Engineers the ability to respond rapidly to the market and maximise output delivering shareholder value.
RPMGlobal’s Operations Manager is a solution for short term planning and execution that allows transparency so users can collaborate and communicate through a single integrated web based plan.
HAULSIM connects the fleet assets, mining operational plans and the people to build a ‘digital twin’ of any mining operation – open pit or underground – to deliver an accurate representation of any mine sites haulage operations.
AMT is the only in-shift maintenance solution that dynamically links to lifecycle costing and strategy to provide an accurate lifecycle position and optimal maintenance strategies using Dynamic Life Cycle Costing (DLCC) – the heart of AMT. DLCC constantly updates using actual events and real-time condition data to generate the full forward life-cycle view of an asset.
Understand how RPM is redefining mine planning and scheduling with XPAC Solutions - the only solution purpose built for the mining industry.
Learn more about RPMGlobal's Advisory capabilities and success in delivering Mining Operational Services to our customers globally.
Learn more about RPMGlobal's Advisory capabilities and success in delivering Mining Project Services to our customers.
Learn more about RPMGlobal's Advisory capabilities and success in delivering Investor Services to our customers.
Understand quickly the success and experience in the RPMGlobal Advisory Team.
Connected systems and connected information leads to amplified decision making. Enterprise integration and collaboration will deliver the operational improvements mining companies need to realise the next wave of productivity improvements.
ISA-95 is mining’s world first widely adopted ‘open’ standard that creates a seamless communication protocol for data flowing between all of the vital, increasingly automated and connected, cogs in supply chain lines. The latest mining profile to ISA-95 enables true digital transformation and breaks down the current rigid environment and its inflexible information siloes.
Today’s mining companies continue to face a vast range of complex financial reporting requirements, and ever-increasing scrutiny by auditors and stakeholders. Consolidation and reporting applications need to be flexible, and accurate with rapid reporting capabilities and integrate easily with any ERP system.
Mine haulage is often the one of the highest cost components of the mining process. In the current climate, pressure is on mining companies to move more material with the same or less equipment forcing them to look closely at latent capacity in the current fleet.
See how our customers are achieving financial success in their mining operations using XERAS Enterprise.
RPMGlobal’s (RPM) expertise spans across all key mining regions, methods and commodities globally. RPM partners with Mining clients and Investment firms to deliver bespoke and/or independent insights and advice based on our strong understanding of the requirements of the mining industry and its financiers.
There is proof in the numbers. Learn what ROI OPMS could deliver to your mining operation.
#111 - November 2011 - The majority of Independent Engineer (IE) assignments for due-diligence reviews of mining projects are performed for financial institutions considering the lending of funds for new or expanding mine projects.
Understand how RPMGlobal are delivering the digital mine by incorporating the principles of Parametric modelling into mine planning and execution.
Understand how easy it is to integrate XERAS with SAP to unlock the full value of your ERP investment.
This video gives a brief look at the user interface and simplicity of creating and managing pivot based ad-hoc reports and charts.
Learn about the scenario analysis feature and value of live comparison reporting in these scenarios.
Explore the value of being able to visualise the cost/value driver tree using the drill down feature for each and every value within the financial model.
Highlighting the quantum leap in analysing the variance between plan versions with detailed underlying variances and live interactive bridge diagrams is something unique to XERAS Enterprise. Try doing that in a spreadsheet!
XERAS Enterprise's Sensitivity Analysis feature demonstrates the impact of real time sensitivity analysis on mine plans. A unique feature that simply is not possible in any other software that we are aware of!
In this short video, learn about XERAS (XE) Enteprise, the mining industry's leading zero-based budgeting solution. See how you can forecast the future of your mine's financial health and immediately see the impact of every decision, before it's made, with XERAS Enterprise.
This shows you how easy it is to simulate queue length at the crushers so you can intelligently decide how you can positively impact the mine's productivity.
This shows how you can intuitively understand the impact of one lane roads to productivity in your mining operations.
Learn more about RPMGlobal's XPAC solution for Open Cut Coal and understand the benefits of block modelling in an Enterprise solution.
Understand the impact XACT has at GRC as their 'single source of the truth for their entire reserve database.'
John Holland is one of Australia’s largest and most diverse specialist contracting businesses featuring a wide range of specialist construction and project
As mining companies continue to operate in increasingly challenging economic conditions, players large and small are looking to digital technologies as a vehicle to help increase production, reduce costs and improve operational efficiency.
There's proof in numbers. Learn what ROI HAULSIM could deliver to your mining operation.
#134 - March 2017 - Graphite is one of the three common allotropes of carbon (the other two are amorphous and diamond). It forms with a hexagonal crystal structure arranged in layers and is the most stable form of carbon under standard conditions.
#133 - November 2016 - A Due Diligence is typically required when funds are sought to develop a new project or expand an existing operation or when there is a proposed merger or acquisition.
RungePincockMinarco (RPM) has today announced the launch of a strategic business partner agreement with Russia-based enterprise solutions provider, EnterChain Limited (EnterChain). Today’s partnership extension is a demonstration of RPM’s global growth strategy, which committed the company to further expansion across Russia and Kazakhstan.
Today’s mining landscape is changing rapidly and RungePincockMinarco (RPM) is at the forefront of this transformation as digital technologies become pivotal to mining success.
RungePincockMinarco (RPM) is proud to announce that its global Advisory division performed an integral role in the global team supporting China Molybdenum’s (CMOC) purchase of two world class assets from Anglo American Plc (Anglo) and Freeport-McMoran Inc (Freeport) totalling approximately USD$4.1 Billion.
RungePincockMinarco (RPM) has launched the latest version of an industry icon, with focus on the user experience. TALPAC 11 has a new look and feel as well as a host of other new additions.
RungePincockMinarco (ASX: RUL) [RPM] has today announced the expansion of its suite of commodity based mine scheduling software solutions, through the launch of Stratigraphic Metals XPAC Solution ™.
RungePincockMinarco Limited (ASX: RUL) [RPM] has today announced the enhancement of TALPAC 11.
RungePincockMinarco has today announced it has completed its acquisition of iSolutions. From today, iSolutions’ entire suite of products specialising in asset management, life cycle costing, maintenance shift scheduling and budgeting will now form part of RPM’s technology business.
#132 - June 2016 - When considering a prospective mining operation, much of the focus is naturally on the resource itself and the ability to extract
and process the material into a commercial product. However the ability to achieve this is dependent on the infrastructure that
is available, or needs to be constructed for the project.
RungePincockMinarco is excited to announce the much anticipated launch of XERAS Enterprise 1.2, delivering the next phase of innovative features for its enterprise financial modelling product.
RungePincockMinarco Limited (ASX: RUL) [RPM] has, today announced it has entered into an agreement to acquire 100% of the issued share capital of iSolutions, a leading global Asset Management software company with over 20 years’ experience in the provision of asset management, life cycle costing and budgeting software solutions to the mining industry.
RungePincockMinarco is proud to announce its Advisory team has been awarded NSW Mining’s Outstanding Supplier of the Year award at the NSW Mining Industry & Suppliers Awards Dinner in Sydney last night. In a celebration of the people and businesses that make NSW mining strong amidst a backdrop of low commodity prices and challenging economic conditions, this award recognises RPM as a success story and Australasia’s leading Mining Advisory company.
RungePincockMinarco (RPM) has today re-established its place in the coal market with the launch of their new Open Cut Coal XPAC Solution (OCCS). This delivers a leap forward in scheduling specifically for the coal industry.
Today, Modular Mining Systems (Modular) and RungePincockMinarco (RPM) announced a strategic alliance to deliver an integrated solution to bridge the gap between planning and operations for elevated precision and optimised efficiencies to enhance mine productivity. The alliance builds on RPM’s expertise in planning and scheduling and Modular’s expertise in systems integration and mine management solutions.
RungePincockMinarco (RPM) is continuing to move ahead of its peers in the mining software industry by delivering another significant advancement in scheduling technology with the latest release of its XPAC Solutions.
RungePincockMinarco (RPM) has today announced a significant upgrade to XECUTE – the industry’s first and only enterprise mine planning application for the ultra-short-term horizon. The launch of XECUTE 1.1 delivers several software enhancements advancing both product functionality and overall user experience.
RungePincockMinarco (RPM) has today announced the launch of its latest version of HAULSIM, delivering unparalleled benefits and features to users around the globe. As the leaders in mine haulage simulation solutions, RPM attributes much of the development of HAULSIM 2.0 to ongoing consultation and feedback received from their global user base.
#131 - February 2016 - The estimation of mineral resources forms the basis for proving the viability of any mining project.
RungePincockMinarco (RPM) has expanded its mine scheduling reach even further with today’s launch of Open Cut Phosphate (OCPS). This product delivers a significant advancement in scheduling technology for the phosphate industry.
RungePincockMinarco (RPM) has announced a significant improvement to the way mine planning data is managed and communicated with the launch of their new enterprise application, Plan Manager.
#130 - December 2015 - RPMGlobal has been recently been involved with several reviews of pressure oxidation facilities including application in gold, silver, copper and aluminum.
RungePincockMinarco (RPM) has today announced the release of XERAS Enterprise, its new enterprise financial modelling product which has a revolutionary new user interface (UI) and the power and flexibility of a server based architecture.
#129 - October 2015 - In its role as an independent engineer (IE) on behalf of various lenders, RPMGlobal is asked to perform pre-loan approval
due diligence on mining projects in order to identify risks that might affect a borrower’s/sponsor’s ability to repay debt.
RungePincockMinarco (RPM) is excited to announce the launch of SIMULATE – a powerful, user-friendly, and intuitive enterprise simulation product for Original Equipment Manufacturers (OEMs).
RungePincockMinarco (RPM) has today expanded its global footprint by entering into a strategic business partner agreement with Turkey based ARDEF Mine Machinery Energy & Trading Incorporation (ARDEF). ARDEF has over 15 years of experience in providing technology and advisory solutions for mining customers across Turkey and was a clear choice as strategic business partner for RPM moving forward in the region.
RungePincockMinarco (RPM) has today announced a significant milestone with the receipt of full SAP integration certification for its Enterprise product offering.
RungePincockMinarco (RPM) has today made another leap forward with their software strategy by announcing the acquisition of intellectual property rights from PrimeThought Software Solutions, a specialist developer of software products used in the management and reporting of geospatial information and the structuring of geospatial databases.
Global publication Mining Magazine has just announced that RungePincockMinarco (RPM) has won their annual innovation award in the category of Mine Planning/Resource Modeling for their XPAC Solutions suite of products.
RungePincockMinarco (RPM) has today launched the latest version of their haulage and loading simulation software, HAULSIM. This update now includes integration with RPM’s Commodity Based Scheduling Solutions, enhancements to the 3D user interface and a raft of new features requested by clients.
RungePincockMinarco (RPM) will be exhibiting at Investing in African Mining, Indaba this week in Johannesburg. The conference will take place from 9 – 12 February at the Cape Town International Convention Centre.
RungePincockMinarco (RPM) has today announced a significant milestone in its GeoGAS division with accreditation from the National Association of Testing Authority (NATA), for new laboratory testing services in GeoGAS.
RungePincockMinarco’s (RPM) Principal Process Engineer, Dr. John Uhrie, was presented with the Minerals and Metallurgical Processing Division’s “Millman of the Year” Award at the annual meeting of the Society of Mining Engineers (SME) held in Denver, Colorado last month.
Following on from the February launch of industry icon TALPAC’s new version 11, RungePincockMinarco has seen a positive response from its client base.
RungePincockMinarco (RPM) has today announced the release of its Quarry XPAC Solution. RPM’s development team have worked hard finalise new features and functionality specific to the quarrying industry, adding cement and aggregates to their comprehensive scheduling suite.
RungePincockMinarco (RPM) has today announced the latest release of their XERAS for Enterprise product, delivering a powerful new module, the Model Repository.
RungePincockMinarco (RPM) has today announced the release of its latest version of HAULSIM delivering cutting-edge features and benefits to its users.
RungePincockMinarco Limited [RPM] has today launched XECUTE™, an ultra-short term mine planning solution, which delivers a step change in the traditional methods of mine planning, by providing a purpose built, enterprise grade, Commercial-Off-The-Shelf (COTS) execution planning solution.
RungePincockMinarco (RPM) has today released an update to their industry paper titled ‘Minimum Engineering Study Requirements’
RungePincockMinarco (RPM) has today announced it has entered into an agreement with FlexSim Software Products, Inc. (FlexSim) to acquire a copy of their simulation software.
#128 - June 2015 - The evaluation of a mining project from exploration through development and production is a lengthy and complicated process.
#127 - February 2015 - Traditional budgeting tools can hinder the budgeting & planning cycle but there is a better way.
#126 - December 2014 - The trend for longwall operations has been to increase panel widths, lengths and where possible, cutting height.
#125 - October 2014 - Mining companies are familiar with the ups and downs of the mining economy. However, in recent times, the large high and subsequent low fluctuations are hitting the industry hard. To compound the economic pressures, deposits are continually getting deeper and more complex to extract, and grades are lower.
#124 - August 2014 - While one would be hard pressed to glean positive news regarding the coal industry’s future from the popular media and even from some trade publications, recent research suggests that the future may not be so bleak.
#123 - April 2014 - It is widely understood that mine haulage is one of the highest cost components within the mining process. The current economic climate presents heightened pressure to maximise the value of current haulage systems and drive down costs; doing more, with less.
#122 - February 2014 - In November 2013, Grant Thornton Australia released their annual JUMEX Survey, a survey of junior mining and exploration companies in Australia.
#121 - October 2013 - International codes such as JORC, NI 43-101 and SAMREC are all based on the notion of transparency together with professional aptitude and experience of the competent persons undertaking the work.
#120 - July 2013 - Mining is essentially a materials management process where materials are classified, excavated, moved to a desired location, processed at a cost and sold for a price and hopefully, generate a profit. ‘How much is that cost and can it be reduced?’ is the age-old question.
#119 - April 2013 - Large mining operations need equipment that consistently performs as expected. The most effective way of ensuring this is to have a defined life cycle with an optimized maintenance strategy.
#118 - January 2013 - With the mining industry at a point of inflection - or perhaps introspection - many companies are placing a much greater focus on costs.
#117 - November 2012 - “There is nothing so useless as do-ing efficiently that which should not be done at all.” Peter Drucker
#116 - September 2012 - An appraiser of mineral rights or interests in a property is faced with the same three approaches to valuation as with any other real estate appraisal exercise: 1) cost, 2) comparable sales, and 3) the income method.
#115 - July 2012 - As commodity prices rise, together with restricted labor markets and fluctuating material costs, the role of mineral project evaluation plays a vital role for all mining professionals.
#114 - May 2012 - In this final part he continues the example of why “optimum” production rates for new mine developments derived from simple discounted cash flow analysis may be wrong … i.e., too high.
#113 - March 2012 - In this article, he looks at marginal costs, and suggests that some of our investment choices for startup of new mines might be incorrect – if we apply simple pit optimization criteria, the “optimum” production rates derived from these models may be too high.
#112 - January 2012 - Phosphate is an essential component of the human body and necessary in the human diet. The primary source in the human diet is from plants produced by intensive crop development in favorable agricultural areas around the world.
#110 - September 2011 - The mining industry is constantly developing and introducing new technologies to make operations more efficient, safer and ultimately improve the bottom line.
#109 - July 2011 - Pincock, Allen and Holt (PAH) prepared this article to provide guidance and clarification on our current approach to the estimation and reporting of Mineral Resources in light of the various international mining codes established by professional organizations such as CIM, SME and JORC and the respective exchange commissions.
#108 - May 2011 - Several years ago, the author used a historic 15th century Portuguese bookcover in a college lecture. The picture illustrated
the dangers of world exploration with a two mast sailing ship breaking up near shore, and all the crew jumping overboard to swim to safety.
#107 - March 2011 - The dictionary meaning of estimate is “an approximate calculation or judgment of the value, number, quantity, or extent of something.” Resource estimates are the grades and tonnages calculated from a resource model at a cutoff grade.