Note

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It's eight questions right up front in section one, which are multiple choice. Okay, and each
one is worth two marks. In fact, I can't even give you twos because they're just all over the
place.

There are a couple of calculations in there. But they're nothing difficult. Obviously, it's
everything you've done.

And either you'll find the answers sitting at the tip of your tongue anyway, or otherwise
they're not too difficult. So as I say, that's 16 marks. And the total mark allocation is 135.

So that's 16 out of 135 will be in the form of multiple choice. I will have a question in there
that asks you to provide differences between the 19th century, the 20th century, and the
current time. And remember, that's all to do with logistics and or management and or
communication.

So that's why I said to you, if I were you, I would go and draw up a table between now and
writing the exam. And list all those labels, maybe on the left-hand side, and then put 19th
century, 20th century, current day. And you just populate that.

And as soon as you see the question in the paper, you copy-paste across. If I were you.
There is a calculation I've told you.

Calculate the price elasticity of demand for two different scenarios. And they will be very
similar to those two scenarios that I've had on before. So if I were you, I would replicate
those two in Excel.

Understand that I'm going to change the axes. But you've got the formula because you've
done it in Excel. You just put them in, and 15 and a half seconds later, you've got the
answers, and you're putting them in.

But that's only if I were you. After that, I then ask a question on, please explain your
understanding of cross-elasticity. Alright, so that's your definition, and I'm sure most of you
will just go and copy-paste it.

Or should I use those words? How can I mark my words wrong? I have a question which I
said to you as well. The three horizons of growth. And in conjunction with the Boston box,
that's what I kept saying to you.

The first horizon is equivalent to the cash cow, and the second horizon is so on. So it's more
of a descriptive answer where each of those apply. You could possibly put it in a table or
bullet points or whatever, but it's still descriptive.

I have got a question that asks you to explain the concept of market segmentation.
Reference markets, not so much, but market segmentation. Well, in fact, reference markets
comes up into market segmentation, so discuss that.
I have a question that says that neural economics is not the same, it's not synonymous with
strategy. You also said neural economics is not the same as finance, but I'm asking for the
one strategy. Neural economics and strategy, they're not the same, please explain.

I'll give you a diagram. I'll give you a diagram. You know that diagram.

You've got the expiration of goods. This goes value. This goes time.

This goes expiration of goods and up to the point of goods. Construction up to the point of
then goods. Production that runs over a period of time.

With that diagram, I say under the headings of expiration, project evaluation, construction,
production, what are your typical sources of funding? There's one beautiful slide that you'll
notice somewhere in those thousand slides where it actually puts a nice pretty table. The
answer's there for you. Someone will ask you to please grab a copy and paste it.

At least you've got to look for it. It's there. I also say that diagram, it outlines your life cycle.

Then I ask the question, so outside of the sources of funding, which you did in the previous
question, so excluding your sources of funding, what are your key management decisions?
What management considerations are you facing in each of those phases? In fact, not
through each of the phases. I specifically say during maturity and beyond. I don't care what
your management decisions are or what decisions are over here.

I want to know what are the key things you're considering in terms of management, the
board, executive, from that point on all the way through to closure and post-closure. I've
asked you for your explanation on what is meant by a free carry of interest, free carry or
NPI, non-participative interest, to make sure you understand what is it. I've got a question
that says KPIs.

KPIs can typically drive, or I say, KPIs typically drive behaviour in a resource company. Do
you think this is the case or not? So yes or no, and then justify why. It may, it may not.

So choose one. Don't defend and say yes, if, and then no, if. Choose one.

Because remember that one answer is the negative of the other. If we say that a good KPI is
market capitalisation of the company, well then that's, if I say it's a good KPI, well then it's
not a negative KPI. You hear what I'm saying? So, essentially, they are a support for each
other.

So choose one of them and tell me why KPIs are good, or demonstrate why they're bad, and
give me what bad reasons. If I let it pass, what good reasons? And get the advantage. Give
me ten attributes that make a wide resource company a competitive advantage.

So remember, that's the one we were talking about, people have internal skills and ability.
You might have high grades in a large company, a jurisdiction might be close to a proximity
infrastructure, and you might have access to funding. You could have a, you know, there's a
whole bunch of things.

There's more than ten attributes. Plus one's got impact, generally. So, in your notes.
Few more questions. The notion of enlarged rivalry. Discuss the factors of enlarged rivalry
within a competitive market.

So, you know what the notion of an enlarged rivalry is, and it's within a competitive market.
Discuss those factors. On that, uh, the new material that I've provided for the first time in
this unit, there's the same answer to our previous question, and that is assuming a company
holds gold rights to both refills and ramp-ups, what is tabular to RPOs between refill, buy,
and ramp-up? Now this goes on.

Management decisions, management structures, rule structures, your team directors, what
you can't do, what you can't achieve, those kinds of things. Do you want any attributes of
competitive advantage? Because I don't have any. Yep.

I was going to ask the same question twice. You can double-ask. Yeah.

I'll just put them in here. So, I was trying to do this as a group. And ask the question, provide
at least two examples, which means that you might be able to provide two.

Providing two examples where a conflict of interest may arise, what constitutes a conflict of
interest? And then I've got a final question. I've got the board, what responsibilities and
duties of a member of the board? And as you notice, read the notes, prepare yourself, try
and stick with those. Don't be a mean splotcher, and open and say nothing.

So, what are your key duties? Also, I thought that was a characteristic. Certain things like
read your reports, act on what your previous notes said was the responsibility of actual
review. There's a simple list in there.

And, folks, truly, I'm not asking much more than that. So, like I say, if you've prepared
yourself and you've just listened to what I've said and that's why I'm recording this, if you've
prepared this, you can spend an hour or two putting it all together, and when you do the
exam, I'll be asking you for half an hour to copy what you've read, and that's a given. Why
am I doing it like this? The simple reason is because you've got the information.

I'm not trying to suggest that you don't have it. I don't believe in rigorous relationship. I
want interpretation.

So, some of these questions are, I want your view, what is your view? Some of you hopefully
say they're good things and they form behavior. Some of you say they're bad things because
they do form behavior and make it wrong behavior. So, there's interpretation that I look for.

Okay. Anything else? Also put, once I receive all your group assignments in, I will, in fact
what I'll do is I'll go and put a timer on release of my answer, the desk subscription that I've
put together for your assignment and that will be released after midnight tonight. So, please
make sure that all groups have emailed me, one person's emailed me from their group, two
or three emails from one group, it doesn't matter.

But make sure I get a copy before midnight tonight. Any questions? Do you want us to turn
it in as well? Or email? For your modeling? No. Turnitin does not check.
Population doesn't check, excellent. Sorry. I've proven that in one e-stats repository and I
think emailing should succeed.

Yeah, that should be good. The exam, you'll see those of you who have this as a question,
write the exam, put the words, you'll answer that, you'll see your exam environment there,
you'll open up, you'll download the paper, normally when I do that, I do it in one paper. You
download the paper, you've got three hours, you have to upload it into the same file.

Even if you download it and you shut your computer down, it's probably still ticking.
Irrespective of whether you think you've been sleeping, no, it's probably still ticking, you've
got three hours. You upload it back into the same file, and then I'll pick up all those answers
on the system.

At some point, we'll also open up a turnitin for your individual assignments for example.
Okay. Any comments on the unit itself? Did you find it useful? Was it some interesting stuff
from others? From you, from Sam, from others, some stuff I wouldn't have brought up
previously.

Or recommendations of what you think might be useful if you think there was some missing
problem management point of view. I always like the units and the ends of discussions like
this, always summarise the data. That's right.

And it's always, I suppose the impetus or the need or desire of the lecturer is actually trying
to draw discussion out. So sometimes discussion happens in 3D, sometimes it's in front of a
class for the math or the models and that can set goals. And then it's just one way of
regulating it.

It's my understanding of that. Very interesting, very useful, and I think we appreciate some
re-added stories as well. Really? Where do you see the industry driving the big issues in the
industry? In terms of up and down? Who is, what are we going to be dealing with in that? In
normal life, in your futures? Well, there's, might be specific, there's a few very safe havens
as far as choosing the right environment.

So copper's always going to be safe, nickel will always be safe, aluminum will be safe, things
like lead not so much. Zinc is a pay-tech application, we're safe. Gold, safe haven, we're safe.

Lithium, not safe. In your lifetime how often will lithium start coming on? I don't think for
the next 15 odd years but you save your lifetime. I'd say, I'm not trying to guess how old you
might be, but I think lithium will have a run for maybe a solid run for maybe 25 years and
then you're going to start seeing a major reduction in the life of lithium because it really
only has one major application and that's energy density and water storage.

It has got a couple of other uses, we'll go back to what was used previously in the long term,
but it's a good investment opportunity in the short term. We need to try and destabilize
China's role in the railroads market because it's partially dominant and they're going to hold
the household holding the world's ranks. The rest of the world needs to really get that.

We have a good opportunity in railroads but it's not so much just on the mining, it's actually
the construction. The ability to produce one of the metals out of the land is extremely
critical. It's an absolute imperative because as long as we live, you live, the railroads are
going to be applied in magnets of all sorts and those magnets are for clean transport,
magnetic levitation, and we might move beyond just mag-led trains.

We could have mag-led services where you have frictionless moving vehicles, autonomous
vehicles, or otherwise roads which maybe it's not my lifetime but maybe yours. I'm not
trying to think sci-fi, but there's no reason why you couldn't have a dynamic policy of
actually causing a propulsion for moving London trains. Why not? Sorry, technology is not
going to answer to that.

I think we need to think about we can actually move the a dynamic way. I think we actually
move dynamic way. I think we can actually move way.

I think we can the way we can move the way can move the way we can move the way we
can move the way we can move the way we can move the we can move the we can move
the we move we can move the we can move the way we can move the move way way way
move the way way way way way we So we'll get there, we'll generate the ability. We'll also,
with all of that, be able to generate an ability, or create an ability, to travel much faster than
what our current rockets can travel. So being able to send human beings to Mars to go and
take some samples, or to create a colony on Mars, that's on the next 50 years.

But the ability is going to advance rapidly to get there. Will we find another planet in the
gobbledogs? That would become very philosophical. I mean, you know what the gobbledogs
are? Distances from a star that's at light, that's at full light, that's got a little bit of time to
breathe and knowledge is exceptional.

Can aircraft also? No. Not in your lifetime, not in a hundred years. But that's where you're
thinking we'll keep that in sci-fi movies.

A little bit easier. Oh, sorry, Matt. This was my idea.

At some point, it was a bit overwhelming because it's quite an amount of information and
too fast. All of this, the unit. I don't have a recommendation of the solution.

Maybe two block sessions instead of one week, two weeks, I don't know. I'm just saying. All
right.

Do you feel it was too much information? At least for me, because this is also not my first
language, so I'm a bit slower. If you want to get the most from the content, I think that you
need a reasonable time to process it. Like this? Yes.

For example, I'm a liner. Sometimes I need to get a piece of paper and try to understand the
things to generate this kind of content. Because right now, we have a lot of dots and now
we have to generate this kind of content.

That's right. But the content is really good. That's what I was saying.

There's a possibility of splitting it into two units. That's one thing. So maybe the finance, the
equity, net markets, and I can certainly apply those in that.
And then have resources in management just be the true boring part. Not boring, but the
true management stuff for my work. And also our workshop, for example.

Could be really, really good. Like, for example, playing with the models through our
workshop. That year, I think certainly if we split them up and there's more economics, the
financial model, that kind of stuff.

I could spend more hours and actually run into your examples and get you to interact with
how you draw the HF instead of the slump. Here's an assignment. Good luck.

Getting some of those lithium magnets. You know, the lithium magnets, like what they pull
large equipments, like massive strong magnets. Electric magnets, you can lift megatons.

Yes. That's a fair suggestion. Not just because it's a second language, but I know I speak
fairly quickly, especially when I'm just trying to get to the stuff that maybe abhors me.

You know, I know how much I've got to get through. And I try and get through it. I am guilty
that I put more material into this unit.

I felt it was important because we didn't have another unit to put things in. So that's why
I'm quite happy to take the comment or criticism. I'm happy to take it that there might be
too much of us because I've just put more and more because I think it's important.

And it probably is important, but I need to pay it back and actually have it in separate units.
So that's fair. For me, I personally believe that we shouldn't separate them.

Just give them time maybe one week to get through. Because most of the things I'm doing in
technology, and when you have this opportunity of discussing them on the phone, you get
the opportunity to see how that project works. But when you separate them, then that can
be a problem and become an issue.

So probably I would suggest that for the remaining time you give time in a week. That's an
interesting point. Because I really see what you have there in the previous slide can be used
to explain and calibrate.

Yeah. Because I suppose the only way I could do that is if I increased the credits from 25 to
50. Because I think I do agree that there's probably enough material for two separate units,
which was only about 50 credits.

So maybe this needs to be like Capstone and there should be 50 credits if it's one unit. And I
run it over. No one can take two weeks off.

I can't run it two weeks in a row. But maybe do 50% of it online and 50% pay-to-post. I don't
know.

But I hear what you're saying. I agree that that one should be later. But maybe the way to
get around that is to have two separate units and make sure they're both coordinates.

That you still have to do both units. You know, it wouldn't work perfectly if you didn't have
the content. I've got to think about that.
Thank you.
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