The valuation of mining assets is timely given the recent upsurge in commodity prices and the spate of takeovers in the mining industry.
The book is written with the benefit of Wayne Lonergan's extensive practical experience and appreciation of problems applying valuation theory in the tough world of mining. Lonergan is able to explain technical issues in a reader-friendly style.
The book is a must read for anyone involved in or investing in the mining sector. It also fills a significant gap in the technical and professional literature with its capital markets perspective.
The Valuation of Mining Assets is an invaluable reference for finance professionals in the industry eg. those using the IFRS imposed requirements to assess fair value. Legal professionals who specialise in the mining industry will also benefit from reading the Valuation of Mining Assets.
Sydney University Press
Country of Publication:
01 August 2006
Professional and scholarly
Preface Acknowledgements About the author Part 1: introduction 1. How mining assets are valued - an overview 2. Defining and valuing the mining project Part 2: financial valuation issues 3. Assessing revenue and the cost of capital 4. Foreign exchange rates 5. Determining the discount rate 6. After tax and pre tax discount rates 7. Real and nominal discount rates 8. Price earnings ratio and cash flow multiples 9. Real options Part 3: valuation of gold mining assets 10. The impact of gold based financial instruments 11. Gold - commodity or financial asset? 12. Accounting issues relating to gold based financial instruments 13. Resources and exploration acreage Part 4: valuation of other mining assets 14. The value of mining information 15. Separating the value of upstream and downstream assets 16. Two case studies in valuation issues Part 5: finanical reporting issues 17. Goodwill in mining companies 18. Acquisition accounting in mining takeovers 19. Other accounting issues 20. Raising capital - the successful explorers dilemma 21. Why miners lose money in foreign exchange Glossary Charts Index