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When and How Should a Junior Kill a Project?

Benjamin speaks on the different stages of project review. He mentions that Oreninc currently has an intern working on project review and how this has allowed the intern to do real work. Benjamin
Managing Director of Oreninc Prior to founding Oreninc, Mr. Cox served as a senior analyst at the D.E. Shaw Group and as a consultant with the GLG Group, where he worked directly with 15 Wall Street teams in the mining deal space. Currently, he holds the position of Chief Executive Officer of Roche Bay plc, an iron ore mining company with leases in Nunavut, Canada. Mr. Cox is also the Chief Executive Officer and a Director of Aston Bay Holdings Ltd. (TSX-V:BAY), a copper and zinc company with properties in Nunavut, Canada. Mr. Cox has researched and developed business, financial, and shipping models for every major global iron ore project. He is also an expert on mining industry market dynamics and metals, with a focus on raw materials including base metals, iron ore, platinum group metals, and industrial materials such as potash and lithium. Mr. Cox holds a B.S. from Brandeis University and an M.B.A. in Finance from Portland State University.
Managing Director of Oreninc Prior to founding Oreninc, Mr. Cox served as a senior analyst at the D.E. Shaw Group and as a consultant with the GLG Group, where he worked directly with 15 Wall Street teams in the mining deal space. Currently, he holds the position of Chief Executive Officer of Roche Bay plc, an iron ore mining company with leases in Nunavut, Canada. Mr. Cox is also the Chief Executive Officer and a Director of Aston Bay Holdings Ltd. (TSX-V:BAY), a copper and zinc company with properties in Nunavut, Canada. Mr. Cox has researched and developed business, financial, and shipping models for every major global iron ore project. He is also an expert on mining industry market dynamics and metals, with a focus on raw materials including base metals, iron ore, platinum group metals, and industrial materials such as potash and lithium. Mr. Cox holds a B.S. from Brandeis University and an M.B.A. in Finance from Portland State University.

Benjamin speaks on the different stages of project review. He mentions that Oreninc currently has an intern working on project review and how this has allowed the intern to do real work. Benjamin frames the intern’s reactions to discuss the process of project review. First is euphoria, where you are magically seeing only the positives. Next is happiness (better than euphoria); further aspects are making even more sense and and, while some things aren't working out in your brain, it is starting to look like the project could be feasible.

Finally comes the reality check; the details that make the project unfeasible appear and the reality that it will have to be killed sinks in. Benjamin notes that he does not mind this and has no issues doing it even after significant man hours have been invested. After all, he concludes, it is better to kill a project early if it has a fundamental reason to be killed than to invest even more time and money into it, only to kill it anyway at a later stage.

 

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