![]() ![]() P/CF = Price per Share / Cash From Operations per Share Operating cash flow is after interest (and thus an equity metric) it’s also after taxes, but it does not include capital expenditures. 2018E) and compares that to the share price. The ratio takes the adjusted cash flow of the business in a given year (i.e. P/CF, or “P-cash flow” is also common but only used for producing mines, as it uses the current cash flow in that year, relative to the price in the security. Corporate adjustments are made at the end, such as head office overhead or debt.īelow is a screenshot of a NAV model from CFI’s Mining Financial Modeling Course. NAV is a sum-of-the-parts approach to valuation, in that each individual mining asset is independently valued and then added together. P/NAV = Market Capitalization / įor a more detailed overview of P/NAV see our course on mining financial modeling. The model can be forecast to the end of the mine life and discounted back today because the technical reports have a very detailed Life of Mine plan (LOM). #GRAVEL STOCKPILE CALCULATOR IN US TONES PLUS#“Net asset value” is the net present value (NPV) or discounted cash flow (DCF) value of all the future cash flow of the mining asset less any debt plus any cash. P/NAV is the most important mining valuation metric, period. Here is an overview of the main valuation methods used in the industry: Without such a study available, one has to resort to more crude metrics. The best way to value a mining asset or company is to build a discounted cash flow (DCF) model that takes into account a mining plan produced in a technical report (like a Feasibility Study). This guide to mining valuation will teach you all you need to know to value an asset! Given the degree of geologic uncertainty around reserves and resources, it’s hard to know how much metal is actually in the ground. Mining assets are very challenging to value. #GRAVEL STOCKPILE CALCULATOR IN US TONES MANUAL#If he needs, he can take manual control and pause flight or move it in any direction.Updated OctoHow Do You Value a Mining Asset? He can bring it home autonomously with the touch of one button on the tablet. Unlike the previous solution, he trusts it to fly predictably. In such cases, he has more control with WingtraOne. For example, Murrey said the Center Mine is surrounded by farmland, so crop dusters can swoop in at altitudes overlapping the drone’s path. Two things matter: how precisely they land, and the level of control they offer to quickly change plans in the air space. Surveyors at BNI learned that different drones offer different levels of security. “I mean, right now the Wingtra is saving somebody from having to do what I used to do when we did stockpile surveys: be up on the top of them walking their perimeters, which are two-to-one slopes, things like that in the middle of winter. “We’re more than willing to spend the money for safety reasons,” Murrey said. And finally, the surveyors themselves no longer need to go directly into the active areas except to measure ground points here and there. Next, having a clear view of the site helps plan next moves with safety in mind. First of all, having more accurate data about the volumes and positioning moved dirt helps managers and workers understand the risk of being around it. In every respect, drones help ensure safety on-site. However, manned aircraft surveys were too expensive to hire more often for site management. The government owns the mineral rights, so these reports were mandatory, and BNI paid the high price. We can’t get on top of that huge volume of dirt safely to get an accurate survey.”īecause accurate volumes were also impossible when driving or walking thousands of acres with survey equipment, BNI used to hire out manned aircraft surveys to give quarterly active area views to the Federal Government. “It’s digging out existing ground that’s never been touched and throwing it in a big pile to uncover the coal. “Our 8200 dragline is removing 40,000 to 60,000 yards (3-5 ha) a day,” said Tyrell Murrey, Surveyor and Certified Drone Pilot at BNI Coal. With all these demands, mining surveying with drones has proven to be a major benefit. As a matter of policy, the same area each year is reclaimed to pasture or farmland in the wake of operations. These assets are surface mined from the Center Mine-near Center, North Dakota-at a rate of about 210 acres (85 ha) a year. supplies about 4.5 million tons of lignite coal per year to power a nearby steam electricity generating station. Based in Bismark, North Dakota, BNI Coal Ltd. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |