Back in the last century, your scribe was tasked to complete a Net Present Value (NPV) calculation when submitting a requisition request to buy some electrical geophysics equipment at WMC1.
The new gear was far from cheap - in the hundreds of thousands of dollars - but nevertheless the NPV-based decision-making process came as something of a culture shock.
After all, wasn't mineral exploration supposed to be the world of scientific rigour, creativity, of a ‘just do it' mentality - all fragranced with a smidgeon of pragmatism, experience, intellectual property, intuition and gut-feel? Completing a cost/benefit analysis for what seemed an essential part of the exploration process caught me by surprise.
It got worse. Unfortunately, there we...