Tenements and titles are the foundations of exploration and mining companies, and the management of them affects the value and market perceptions of the company. The management and administration of these titles and tenements deals with asset life cycles, reporting requirements, many deadlines, statutory commitments, and legislative changes. These in turn, are intricately interwoven with other functions of the business such as geology, environment, engineering, land access, safety, legal and finance, let alone the different array of Government departments across local, state and federal levels.
Loss of Tenure is often listed as high to very high on a company’s risk register yet surprisingly, the day-to-day management of tenements still has some companies using spreadsheets as databases.
Disadvantages of using spreadsheets
Whilst spreadsheets are quick and easy to create, they are error-prone, don’t permit analysing, are static, unintuitive, don’t track data updates, or follow flow paths dependent on the jurisdiction. Unless all your tenements and titles are on the same schedule, with the same requirements, tracking them will require a LOT of effort – there are just too many variables to rely on a spreadsheet, which increases your risk of loss of tenure.
Spreadsheet usage for tenement management is also highly dependent on the tacit knowledge of your current staff, so should you have any staff turnover, you may find yourself with a spreadsheet that takes a lot of time to decipher, or at worst, is rendered useless. Similarly, with workarounds in some tenement software, you can end up with data in odd places, just because it doesn’t fit anywhere else, once again, jeopardising your meeting deadlines. The way you manage your tenements is dependent on the jurisdiction it is in, and your tenement management software needs to be able to cater for that, and any changes that occur in legislation during its tenure life.
Common excuses for those companies still using spreadsheets include, “We’ve always done it that way and it has been fine”, “We don’t have that much data”, “It’s hard to learn new software, and there is a lot of data that we’d have to transfer to a database” and “It’s too expensive”. A spreadsheet is neither a reporting solution, database or tenement management program and it’s increasingly risky to continue to use them in the modern web-based landscape of today. Reduce your risks. Operate a system that will allow your company to grow its assets and manage them efficiently and effectively.
How PX4 Software can help
PX4 Resources has been tailormade by experienced tenement managers who wanted a cloud-based, multi-jurisdictional, responsive, and reliable solution that reduced workarounds and hidden costs encountered with other tenement management software. Western Australia and Queensland jurisdictions are operational and we are getting great feedback from very happy clients and agents. Meanwhile, we are working feverishly to bring you the additional jurisdictions as quickly as we can.
The most frequent feedback we are getting is that upper management is happy with the cost savings, releasing more money back to exploration and development budgets where it should be. Tenement managers are thrilled with the layout, ease of management, alerts, and the ability to see at a glance, the upcoming workload over the year – “It’s allowing me time to do my other projects that I just never get to”.
PX4 Resources is intuitive, easy to learn and has free product support. We will help you load your data in, so you don’t have the data entry, and pricing is dependent on the number of tenements and jurisdictions you manage.
Arrange a FREE TRIAL and we will help upload your current information for you so you can get straight into comparing our product to how you are operating at the moment. All you need is your work email and NO CREDIT CARD! Check out our pricing – if you are currently using a spreadsheet to manage your most valuable land use assets, you WILL have payback and peace of mind in a matter of months. Don’t hesitate to contact us if you have any queries.