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D. Tables
Table 1.1 - Computation Formulas
A B C D
Year Tons Mined Royalty Present Value at
11/15/98
1 1999 315000 B1 * 0.71 C1/((1.115)^0.63)
2 2000 360000 B2 * 0.71 C2/((1.115)^1.63)
3 2001 360000 B3 * 0.71 C3/((1.115)^2.63)
4 2002 360000 B4 * 0.71 C4/((1.115)^3.63)
5 2003 360000 B5 * 0.71 C5/((1.115)^4.63)
6 2004 360000 B6 * 0.71 C6/((1.115)^5.63)
7 2005 360000 B7 * 0.71 C7/((1.115)^6.63)
8 2006 279111 B8 * 0.71 C8/((1.115)^7.63)
Subtotal sum(B1:B8) sum(C1:C8) sum(D1:D8)
Plus Residual Value $13,148
TOTAL DISCOUNTED VALUE D10 + D12
Table 1.2 - DCF Analysis
Present Value at
Year Tons Mined Royalty 11/15/98
1999 315,000 $223,650 $208,826.56
2000 360,000 $255,600 $214,043.88
2001 360,000 $255,600 $191,967.61
2002 360,000 $255,600 $172,168.26
2003 360,000 $255,600 $154,410.99
2004 360,000 $255,600 $138,485.19
2005 360,000 $255,600 $124,201.97
2006 279,111 $198,169 $86,363.07
Subtotal 2,754,111 $1,955,419 $1,290,467.53
Plus Residual Value $13,148.00
TOTAL DISCOUNTED VALUE $1,303,615.53
15(...continued)
had been depleted, which is within the range of prices in the
county. Once discounted to present value at 11.5%, at the end of
eight years--the property’s useful life as a mine--it has a
present value of $13,148.
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Last modified: November 10, 2007