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UPDATED RESOURCE ESTIMATE ON THE Piñata GOLD×COPPER PROPERTY CALLOW AND LAMP PROVINCES, PERU FOR AM GOLD INC. Vancouver, British Columbia, Canada May 30, 2011, BRIAN COLE P.GEO. AND RONALD SIMPSON
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How to fill out updated resource estimate

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How to fill out an updated resource estimate:

01
Collect all relevant data: Gather all the information necessary for properly estimating the resources. This may include current inventory levels, production data, sales forecasts, and any other relevant data sources. Ensure you have the most up-to-date information available.
02
Analyze the data: Review and analyze the collected data to identify any potential changes or trends that may affect the resource estimate. Look for any fluctuations in demand, changes in market conditions, or any other factors that may impact the resources required.
03
Review previous estimates: Take a look at any previous resource estimates to understand the historical context and compare with the current data. It will help you identify any significant changes and ensure consistency in your estimates.
04
Consider future factors: Take into account any upcoming projects, initiatives, or anticipated changes in the industry that may impact resource requirements. For example, if there are plans to expand production or introduce new products, adjust the resource estimate accordingly.
05
Collaborate with relevant team members: Consult with the appropriate departments or team members to validate the resource estimate. This may include input from operations, finance, sales, and any other relevant stakeholders who have insights into the resource needs of the organization.
06
Use appropriate estimation techniques: Apply the relevant estimation techniques to calculate the updated resource estimate. Depending on the nature of the resources, this may involve mathematical formulas, statistical analysis, or other proven methods used in your industry.
07
Document and communicate the estimate: Document and record the updated resource estimate in a clear and organized manner. Ensure that it is easily understandable by others within your organization. Communicate the estimate with key decision-makers, such as senior management or department heads, to provide them with a comprehensive understanding of the resources needed.

Who needs updated resource estimate?

01
Project Managers: Project managers rely on resource estimates to plan and allocate resources effectively for their projects. An updated estimate ensures that they have accurate information to make informed decisions and avoid resource shortages or overages.
02
Finance Department: The finance department needs the updated resource estimate to forecast future expenses accurately. It helps them in budget planning, cost control, and resource allocation.
03
Procurement Department: The procurement department uses resource estimates to identify the material and equipment requirements necessary for operations. With an updated estimate, they can effectively manage the procurement process and ensure the timely availability of resources.
04
Sales and Marketing Teams: An updated resource estimate provides valuable insights into the production capacity and resource availability. Sales and marketing teams can align their strategies accordingly, ensuring that customer demand can be met within the available resources.
05
Executive Management: Senior executives rely on resource estimates to make crucial strategic decisions. An updated estimate helps them understand the resource needs, evaluate potential risks, and plan for future growth or expansion effectively.
In summary, filling out an updated resource estimate involves collecting relevant data, analyzing it, considering future factors, collaborating with team members, using appropriate estimation techniques, and documenting the estimate. The estimate is essential for project managers, finance departments, procurement departments, sales and marketing teams, and executive management to plan, allocate resources, control costs, and make informed decisions.

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