This book is good -- but it is not a systematic account of the topic. The discussion of valuation formulae in particular is MUCH too complicated to useful for a dolt like me. The system of calculating DCF and NPV can be gotten elsewhere in much clear fashion. If anyone needs a source for this, inbox me. This is NOT the book, if you're looking for something simple, clear, and introductory. I will try Rudenno now.
This is a very good book -- written before the commodity bull began (1991; revised 1998). Basically, stripping it all away, the key seems to be to get the direction of metals prices right (ch. 12), especially when the cycle turns up; and then to learn enough to be able to detect fraud or bullshit in the feasibility studies.
I've got a few books on order, based on recommendations from some knowledgeable people -- here they are:
1.) http://www.amazon.com/Geology-Ore-Deposits-John-Guilbert/dp/0716714566/ref=wl_it_dp_o?ie=UTF8&coliid=I3AJ6ADOPUR3TO&colid=2DMQRKPBKL90J
2.) http://www.amazon.com/Mining-Valuation-Handbook-Investors-Management/dp/0731409833/ref=wl_it_dp_o?ie=UTF8&coliid=ITUI3P8T9LFTY&colid=2DMQRKPBKL90J
3.) http://www.amazon.com/Modern-Mine-Valuation-Howard-Burnham/dp/1408609002/ref=sr_1_1?ie=UTF8&s=books&qid=1259717231&sr=1-1
A fascinating study - not quite systematic - of some of the more obscure aspects of this ever fascinating industry. A very rich book, despite the rather forbidding title.