Standard GoldNerds Spreadsheet

This package is designed to help smaller investors who want to know which of the gold companies on the ASX have the basic characteristics they are interested in. It narrows down the field to shortlist the ones that are especially worth researching. The Standard Sheet does not include Options, Financial data, or EV's¹. In most cases the market cap is a good simple substitute for EV's (see below).

The Standard Spreadsheet includes

Features

Slice and Dice the data
Sort, Score, Filter and view comments. They're all described in detail on the Toolbox page.

						Click on the cameras
	Sort	Score	Filter	Comments

	Sovereign Risk We split the world into 21 geographic groupings. You can alter the estimates of risk, or use the default ones we set.
	Currency conversion Companies report results in different currencies. We adjust their announcements so you see it all in $A or $US. (Picture Oct 22)
	Customise the currency and other factors Want the answers to be $US, or $A? No problem. You choose. Note, some figures like share price, cash and debt always remain in A$, but the calculated figures like market cap, EV, and cash cost change. Other factors are also customisable like column views, categories of market capitalisation, and weightings for estimating 'Mineable Gold'. (Picture Oct 22)
	Metal Prices We update prices of several metals: Gold, Silver, Copper, Zinc, Nickel, Uranium, Lead, Cobalt, Antimony. (Picture Oct 22)

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1. Market Capitalization and EVs

"Market Cap" is the cost to buy the whole company, at the current share price. Most market cap figures quoted elsewhere are often just the cost of the fully-paid shares quoted on the market. In the Standard Spreadsheet we include unquoted shares and escrowed shares as well. In the professional version we also include options.

Market capitalization is the main component of, and is usually roughly equal to, EV (enterprise value). But it does not take into account the cash, debts, or other financial assets that the company has, so sometimes there are surprises. We recommend you check a companies cash balance sheet before buying the shares. EV information is included in the Professional spreadsheet, but not in the Standard spreadsheet.

2. GoldNerds Potential

Sometimes companies have a lot of drill data, but not enough to qualify for a JORC resource (not even for an inferred resource). This applies especially to deep vein mining, where drilling is expensive, and veins are variable. Sometimes it applies when explorers are part way through their drilling program. When a company has a proven resource, and their geologist is willing to make a pre-JORC estimate we may include it as "GoldNerds Potential". Obviously it's a guesstimate at best, but none-the-less, it's a useful guide to the likelyhood of a resource upgrade in the future. Indicative only.

3. Market-cap-per-gold-ounce

The three market-cap-per-gold-ounce columns (per resource, reserve, or mineable ounce) are useful for comparing what it would theoretically cost to buy a share in a company as a proxy for owning an ounce of gold. Owning gold 'underground' is usually far cheaper than buying an ounce at the mint. That reflects the risks involved: how sure are you that the gold is there (is it a reserve, a resource, or a guess?), what will it cost to get the gold out of the ground, and how much is an ounce of gold worth to me if it's in Mali (how 'safe' is it?), will management go bust? The market-cap-per-reserve-ounce is more expensive than 'per-resource-ounce' because there is more certainty in it.

Can't decide which version is right for you? You can always upgrade to the Professional subscription level if you decide you want all the info. Email us to ask. Money paid for the Standard version will be credited towards the cost of the Professional subscription.

Printouts

A worksheets format designed especially for printing.

1. One page per company, for printing off all the details for each company separately. Just type in the ASX code and it's all there, including the pop-up comments.

Last Update: 13 Jan 2008