Gold Mining (or other metal) Excel Financial Model
Originally published: 04/04/2018 16:49
Last version published: 23/08/2022 15:42
Publication number: ELQ-97529-8
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Gold Mining (or other metal) Excel Financial Model

Model up to 50 years of mining activity with up to 28 types of materials going at once (Gold/Gems/Minerals/Other metals).

Recently updated with a 3-statement model (Income Statement, Balance Sheet, Cash Flow Statement), capex schedule with depreciation, and a cap table as well as improved general global assumptions and formatting conventions.

This is a comprehensive way to forecast what your initial investment, revenue, and expenses look like in an open-pit mine. There is the possibility to account for mining over 28 types of materials including ruby, gold, silver, gravel, copper, iron, clay, limestone, and Beryl.

You can define the amount of material expected to be mined in tonnes and the expected break-down of each type of material you expect. For example, you can say 1,000 Tonnes per day and x% is gravel, x% is gold, x% is etc.....the assumptions would allow you to account for a % that is mined and has no value at all.

Cost and wage assumptions are dynamic and fit to this particular type of endeavor. Everything will populate on an annual P&L / cash flow sheet and change as you change the assumptions about what you are mining, your initial investment, and on-going costs.

The returns tab will show you IRR and ROI figures and there are charts to show expense break-downs per year as well as accumulated cash flow.

There is also a dynamic debt schedule that flows through the model if you plan on financing a % of your initial investment.

Finally, you are going to be able to set the current market price of each material in order to drive revenues.

This Best Practice includes
1 Excel template and 1 tutorial video

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Further information

Provide insight into the financial performance of a mining operation given various assumptions.

When modeling out a mining operation.

A non-mining operation.

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