(I1) An engineer for a mining company is directed to examine a special property and to advise the company's management as to its potential value- Estimates of the ore readily available are 3513 Dill} tonnes and she bases her evaluation on that gure. Mining equipment available will mine about I50 DUE} tonnes of ore per year. It is estimated that gross income will be $12.75 per tonne of mined ore and that mining operations, transportation and smelting costs will total $6.?5 per tonne of ore. Administration and other expenses are estimated to be $50 per year. {i} 1What would the engineer report as expected life of mine?I {5 marks} (ii) H the interest for project was 6% per year compounded annually: what is the probable present value of the property?r Would the engineer be justied in recommending that the company invests $10 million in the property? Show your working and state your reasons clearly- [It] marks}. (iii) In giving her recommendations to management, what risks should the engineer highlight and what mitigatory measures could she suggest for those risks. {5 marks}