A detailed, user-friendly mining financial model with three integrated financial statements, DCF and comparable company valuation, built entirely in Excel.

Mining is a capacity-and-commodity business, and it is one where the valuation lives or dies on assumptions a generic template simply cannot hold. Production volume, unit price, operating cost per tonne and the reinvestment needed to sustain output all move independently, and often on different cycles. A model that starts from a revenue growth rate tells you nothing about the thing that actually matters — how much you can produce, at what price, and at what cost.

This model builds revenue from capacity, production, sales volume and unit price, so utilisation and commodity pricing become variables you can flex directly. Operating cost and distribution are kept separate, which matters in a sector where getting the product to market can be as significant a cost as extracting it in the first place.

The model covers 5 years of historical data plus a 5-year forecast period — a longer historical window than most templates offer, which matters in a cyclical sector where a single year tells you little. Valuation uses both discounted cash flow methodology and Comparable Company Analysis.

Two Valuation Methods

A DCF captures the intrinsic value of the forecast cash flows. Comparable company analysis anchors that against how the market is actually pricing mining peers. In a commodity sector, where sentiment and cycle can pull the two apart, seeing both side by side is genuinely informative — and gives you a defensible range rather than a single point estimate.

The five-year historical window feeds both. A longer run of actuals gives your margin assumptions, cost trends and reinvestment ratios a firmer footing than a three-year snapshot taken at one point in the cycle.

Assumptions You Control

A single control sheet drives the entire model. Change an input and every statement, ratio and valuation output updates automatically. The inputs cover:

What the Model Produces

Comprehensive calculations run off your inputs to generate a complete set of outputs:

• Income Statement — historical and forecast profit and loss
• Balance Sheet — historical and forecast, fully linked and balancing
• Cash Flow Statement — historical and forecast cash flows
• DCF & Relative Valuation — discounted cash flow plus comparable company analysis
• Ratio Analysis — a detailed analytical pack, set out below

Financial Analysis Included

The analysis sheet goes considerably beyond a standard ratio summary, giving you the metrics an analyst would expect in a full valuation pack:

Who This Is For

• Mining and resources companies building business plans, project cases or board materials
• Investment bankers and equity researchers covering mining, metals and commodities
• Private equity and resource investors running diligence on mining assets and operators
• Corporate finance and strategy teams in mining running forecasting and scenario work
• Finance professionals who need a capacity-driven DCF with a relative valuation cross-check

Why This Model

Need a model built to your own specification? See our financial advisory services, or browse the full range of DCF valuation templates.