The Mining Valuation Handbook 4e

Auteur

Victor Rudenno holds a Bachelor of Mining Engineering, a Master of Commerce and a PhD in Mining Economics. He was voted by his peers as one of the top three energy analysts in Australia in the BRW 1994 analyst survey. He is a Senior Fellow of the Financial Services Institute of Australia and a member of the Australasian Institute of Mining and Metallurgy. He is also the principal lecturer in mining economics for Kaplan Professional.

Contenu

Acknowledgements ix Introduction xi

1 The resources industry 1

2 A quick guide to financials 13

3 Feasibility studies 21

4 Commodity values and forecasting 41

5 Resource project considerations 67

6 Classification of resources and reserves 97

7 Mining and hydrocarbon recovery 113

8 Indicative capital and operating costs 151

9 Hedging commodities and exchange rates 235

10 Taxation, depreciation, royalties and accounting standards 245

11 Valuation methodologies 265

12 Takeovers and fair value allocation 299

13 Quantifying the risk 317

14 Cutoff grade theory 329

15 Share price performance and real options 337

16 Impact of exploration, development and expansion 357

17 Determining the appropriate discount rate 381

18 Dealing with inflation 391

19 Agricola Mining - a hypothetical example 397

20 Commodity profiles 417

Appendix A: Sources of information 495

Appendix B: Australian Native Title 501

Appendix C: Royalty rates 505

Appendix D: Economic geology primer 517

Appendix E: Project details 523

Appendix F: Exchange rates and CPI 541

Appendix G: Continuous discounting and annuities 545

Appendix H: Abbreviations, conversions and energy factors 547

Glossary 555

Bibliography and references 593

Index 597