Что такое cash cost
operating cash costs
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Operating cash flow — In financial accounting, operating cash flow (OCF), cash flow provided by operations or cash flow from operating activities (CFO), refers to the amount of cash a company generates from the revenues it brings in, excluding costs associated with… … Wikipedia
Non-Operating Cash Flows — Cash flows (inflows and outflows) that are not related to the day to day, ongoing operations of a business. Non operating cash flows include borrowings, the issuance or purchase of stock, asset sales, dividend payments, and other investment… … Investment dictionary
Operating margin — In business, operating margin, operating income margin, operating profit margin or return on sales (ROS) is the ratio of operating income (operating profit in the UK) divided by net sales, usually presented in percent. Net profit measures the… … Wikipedia
Cash Cost — A cash basis accounting cost recognition process that classifies costs as they are paid for in cash, and is recognized in the general ledger at the point of sale. This method is contrary to the accrual cost recognition method, which directly… … Investment dictionary
Cash flow — For other uses, see Cash flow (disambiguation). Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · … Wikipedia
Operating expense — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Operating room management — An operating theatre (gynecological hospital of Medical University of Silesia in Bytom) Operating room management is the science of how to run an Operating Room Suite. Operational operating room management focuses on maximizing operational… … Wikipedia
Operating Margin — A ratio used to measure a company s pricing strategy and operating efficiency. Calculated as: Operating margin is a measurement of what proportion of a company s revenue is left over after paying for variable costs of production such as wages,… … Investment dictionary
Cash Flow From Operating Activities — An accounting item indicating the cash a company brings in from ongoing, regular business activities. Cash flow from operating activities does not include long term capital or investment costs. It can be calculated as: Cash Flow From Operating… … Investment dictionary
Operating Leverage — A measurement of the degree to which a firm or project incurs a combination of fixed and variable costs. 1. A business that makes few sales, with each sale providing a very high gross margin, is said to be highly leveraged. A business that makes… … Investment dictionary
Сравнение операционных показателей золотодобытчиков
Золото — традиционно один из «защитных» активов, который за прошедший год неслабо так подрос. А вслед и капитализация золотодобытчиков.
AIC — хороший показатель, но слишком подвержен влияниям сторонних капексов (которые вполне возможно будут и пересматриваться, особенно если цена сохранится). Поэтому наиболее оптимальным мне кажется сравнение по AISC, особенно в среднесрочной перспективе.
Следует отметить, что в золотодобыче присутствует небольшая сезонность — второе полугодие традиционно показывает более высокие операционные результаты, в т.ч. более низкую себестоимость. Поэтому имеет смысл только годовые показатели. За 2019й год All-in sustaining cash cost, ($/GE oz) 866 у полиметалла и 594 у Полюса — мирового лидера по эффективности. Стоит напомнить, что частично затраты у обеих компаний номинированы в рублях, значит в можно ожидать даже дальнейшее уменьшение.
Теперь к производству. У Полиметалла ожидается небольшой прогнозный рост в 22-м году до 1600 KOz (в 20 и 21 — 1500 KOz). Однако динамика 20го года показывает, что план будет слегка перевыполнен. Заложим годовую оценку в 1550 KOz. У Полюса прогнозов на следующие года не нашел. Однако есть прогнозное состояние месторождений. Например в корпоративной декабрьской презентации https://polyus.com/ru/investors/presentations/ (за декабрь) на стр. 23 показано, что можно ожидать некое увеличение производства только на Вернинском месторождении в середине 2021. За 19й год было добыто KOZ 2841. По 20-му году динамика такая же. Так что можно прогнозно заложить 2950 KOz/год.
Теперь можно прикидывать прибыль*. Отмечу, что еще есть с одной стороны некий общий капекс на расширение, а с другой налоги на прибыль. Строго говоря, на каждом месторождении может быть своя специфика, но по идее, средние ставки должны быть одинаковые, а значит на соотношение прибылей они не повлияют.
cost of cash
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Cash flow return on investment — is a valuation model that assumes the stock market sets prices based on cash flow, not on corporate performance and earnings.CFROI = Cash Flow / Market RecapitalizationFor the corporation, it is essentially internal rate of return (IRR). CFROI is … Wikipedia
Cash out refinancing — (in the case of real property) occurs when a loan is taken out on property already owned, and the loan amount is above and beyond the cost of transaction, payoff of existing liens, and related expenses.DefinitionStrictly speaking all refinancing… … Wikipedia
cost basis — see basis 3 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. cost basis n. The amount … Law dictionary
cash method — cash meth·od n: cash basis at basis Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. cash method … Law dictionary
Cash Surplus Value Added — (CsVA) is a measure of business profitability defined as the EBITDA after tax generated by the business less its required return. The required return is an annuity based on the purchase price of the assets in use in the business, inflated to… … Wikipedia
Cost segregation study — Part of a series on Taxation Taxation in the United States … Wikipedia
Cash flow — For other uses, see Cash flow (disambiguation). Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · … Wikipedia
Cost of living in Namibia — The cost of living in Namibia is very high.[1] [2] Namibia imports about 50% of its cereal requirements. Many other items used in daily life also need to be imported. High transportation costs make prices very high. Monopoly in some business… … Wikipedia
Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Cash Cost — A cash basis accounting cost recognition process that classifies costs as they are paid for in cash, and is recognized in the general ledger at the point of sale. This method is contrary to the accrual cost recognition method, which directly… … Investment dictionary
total cash cost
1 total cash cost
2 total cash cost ($/oz)
См. также в других словарях:
Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
cost — The opposite of revenue. An expense that reflects the price of purchasing goods, services and financial instruments. A cash cost means that cash is given up today to the purchase. Also, the purchase price of an investment, which is compared to… … Financial and business terms
Cost segregation study — Part of a series on Taxation Taxation in the United States … Wikipedia
Cash on cash return — In investing, the cash on cash return is the ratio of annual before tax cash flow to the total amount of cash invested, expressed as a percentage. :mbox Total Cost of Ownership — (TCO, Gesamtbetriebskosten) ist ein Abrechnungsverfahren, das Verbrauchern und Unternehmen helfen soll, alle anfallenden Kosten von Investitionsgütern (wie beispielsweise Software und Hardware in der IT) abzuschätzen. Die Idee dabei ist, eine… … Deutsch Wikipedia Total Cost — of Ownership (TCO) ist ein Abrechnungsverfahren, das 1987 durch Bill Kirwin, Research Director der Unternehmensberatung Gartner Inc., im Auftrag von Microsoft entwickelt wurde. Der Ansatz dient dazu, Verbrauchern und Unternehmen dabei zu helfen,… … Deutsch Wikipedia Cash flow return on investment — is a valuation model that assumes the stock market sets prices based on cash flow, not on corporate performance and earnings.CFROI = Cash Flow / Market RecapitalizationFor the corporation, it is essentially internal rate of return (IRR). CFROI is … Wikipedia Total return swap — Total return swap, or TRS (especially in Europe), or total rate of return swap, or TRORS, is a financial contract which transfers both the credit risk and market risk of an underlying asset. Contract definition Let us assume that one bank (bank… … Wikipedia Cash out refinancing — (in the case of real property) occurs when a loan is taken out on property already owned, and the loan amount is above and beyond the cost of transaction, payoff of existing liens, and related expenses.DefinitionStrictly speaking all refinancing… … Wikipedia Cash flow — For other uses, see Cash flow (disambiguation). Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · … Wikipedia Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia 1 cost of cash Cash flow return on investment — is a valuation model that assumes the stock market sets prices based on cash flow, not on corporate performance and earnings.CFROI = Cash Flow / Market RecapitalizationFor the corporation, it is essentially internal rate of return (IRR). CFROI is … Wikipedia Cash out refinancing — (in the case of real property) occurs when a loan is taken out on property already owned, and the loan amount is above and beyond the cost of transaction, payoff of existing liens, and related expenses.DefinitionStrictly speaking all refinancing… … Wikipedia cost basis — see basis 3 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. cost basis n. The amount … Law dictionary cash method — cash meth·od n: cash basis at basis Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. cash method … Law dictionary Cash Surplus Value Added — (CsVA) is a measure of business profitability defined as the EBITDA after tax generated by the business less its required return. The required return is an annuity based on the purchase price of the assets in use in the business, inflated to… … Wikipedia Cost segregation study — Part of a series on Taxation Taxation in the United States … Wikipedia Cash flow — For other uses, see Cash flow (disambiguation). Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · … Wikipedia Cost of living in Namibia — The cost of living in Namibia is very high.[1] [2] Namibia imports about 50% of its cereal requirements. Many other items used in daily life also need to be imported. High transportation costs make prices very high. Monopoly in some business… … Wikipedia Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia Cash Cost — A cash basis accounting cost recognition process that classifies costs as they are paid for in cash, and is recognized in the general ledger at the point of sale. This method is contrary to the accrual cost recognition method, which directly… … Investment dictionarycost of cash
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