Essential mETALS

Company Overview

ASX-listed (ASX:ESS) Essential Metals is an active exploration and development company focused on discovering and producing metals essential for a sustainable future.


  • Accounting incorporating customisation to accommodate multi-tenement holdings
  • Multi-Level data capture – GL Accounts, Categories, Products, Projects, Tenements and other parameters to capture data.
  • Asset Register
  • Capture shared expenditure for future project reallocation
  • Multi-Company (4 Entities)
  • Multi-Currency Entity
    Allocation of costs to one or more corporate cost centres.
  • Automatic allocation to Capitalised Balance Sheet account based on tenement selection.


  • Management Reporting
  • Inter-company Consolidations
  • Form 5 Operations Report – Expenditure on mining tenements
  • Budgeting and re-forecasting


  • Support with setup and ATO compliance
  • Labour Costing by Tenement/Project.

Challenges and Business Objectives

Previous processes required manual data dumping, mapping and validation in Excel, to ensure reporting was accurate and complete. The high-level goals of this project were as follows:

  • Simplify existing functionality, add new features and reduce processing time for accounting transactions.
  • Reduce the time and effort required to produce management and financial reports.
  • Adapt the Odoo system to maintain cost and revenue reporting per tenement and project.
  • Cater for capitalised and expensed transactions.

Solution Benefit

By moving to I&A’s Mining & Exploration Solution (IAMES) integrated solution, Essential Metals were able to improve the capture of transactional data and automate the flow of this data into pre-built, custom report packs. Management reporting was also enhanced with the addition of asset depreciation, which is posted monthly and split by tenement & project.

Other benefits derived include the following:

  • Custom user access rights for transaction processing and approvals, in accordance with suggestions from the client’s auditor.
  • Automatic Currency conversions on foreign purchases.
  • Automated posting of Prepaid/Deferred revenue and expenses, asset depreciation.