Mineral Exploration Funds

While independent mineral operators have traditionally been confronted with a scarcity of risk capital for mineral development, willing investors have often experienced equal difficulty in locating responsible mineral operations in which to invest. The exploration fund, a means of channeling risk capital furnished by high-bracket taxpayers into mineral exploration, is one answer to this dilemma. In this article the author deals extensively with the mineral, tax, business association, and securities law problems involved in the organization and operation of such a fund

The Revised Model State Administrative Procedure Act—Reform or Retrogression?

In this contribution, we deal with the deterministic dominance of the probability moments of stochastic processes. More precisely, given a positive stochastic process, we propose to dominate its probability moment sequence by the trajectory of appropriate lower and upper dominating deterministic processes. The analysis of the behavior of the original stochastic process is then transferred to the stability analysis of the deterministic dominating processes. The result is applied to a nonstationary auto-regressive process that appears in the system identification literature.