Pulau Merah, East Java, Indonesia – Intrepid Mines (PT Indo Multi Niaga)
As Intrepid Mines (through PTIMN) exploration endeavors to strategically identify gold producing sites and other metals bases, it aims to capitalize on prospective exploration assets to secure and sustain a project pipeline and evaluate if it is delivering sustained growth for its shareholders, its partners and the communities where it operates.
Intrepid Mines wanted its management reporting and streamline operations to be reviewed across its exploration site in Indonesia to ensure it is heading towards its corporate goals and vision.
“Derek was instrumental in bringing structure, budget systems and discipline into the project. Everything from inventory, to cash calls and budget forecasts systems and protocols were implemented under Derek’s control and perseverance with support from site management. His efforts, know-how, common sense approach and experience was invaluable in restructuring funding for operations and controls on expenditure in a 10 drill rig resource drill out program. No hesitation working with Derek again.” Greg Parham, Consultant Geology Manager Intrepid Mines, Indonesia
Intrepid Mines hired seasoned business strategist and consultants DVB Consulting to review its current operations in its Indonesian exploration site and provide solutions to the areas that need to be given attention to ensure that its business goals are met.
We reviewed and assessed its operations and from there produced outcomes that ensured its forward direction and drove Intrepid Mines to greater heights. Our action plans and line up of solutions included:
- Leading various stakeholders primarily its department supervisors as they are taught how to prepare operating budgets and prepare relevant documentation for major expenditure together with cash flow forecasting
- Reviewing the Capital Expenditure related to the operational activity being carried out, in doing this, initiating steps together with the senior site personnel and relevant stakeholders to ascertain the correct allocation of expenses for each activity and the identification of any possible additional projects that would be required
- Assisting in streamlining of the existing policies to enable a better understanding by all stakeholders, both internal and external
- Reviewing drilling activities carried out by external contractor to ensure safe operations were being carried out and costs were contained
- Mentoring and training non-financial personnel in processes and relevant duties
- Reviewing Asset Register and assisting by establishing an “In-house” register using Excel
- Reviewing and implementing the cost allocations related to the overall expenditure across site and in turn addressing the cost control processes
- Conducting a review of the Government & Community Relations activities to ensure that the company meets the community expectations and ensuring the protection of company assets
- Reviewing all supply and operational procedures and relevant supplier contracts in line with operation and supply activities
- Review and negotiation of supply and logistics contract relevant to site operations
- Review and recommendation of ERP System suitable for site operations
- Assist in the implementation of the ERP System