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Excel cases

4 guided Excel modelling cases, each with a starter file, steps you check one by one and a worked solution.

Open the interactive cases

  1. 1Value a gold mine: the NAV of Kestrel Ridge

    Build the NAV of a gold project from its feasibility study, then judge the share price. 45 minutes

  2. 2Build a three-statement model: Brolga Drilling

    Forecast a drilling contractor’s income statement, balance sheet and cash flows for five years, with a revolver that funds its fleet growth. 75 minutes

  3. 3Run an LBO: Greyhaven buys Corella Equipment Rental

    Model the buyout of a mining equipment rental company: sources and uses, three debt tranches with a cash sweep, the returns, and the case for the investment committee. 150 minutes

  4. 4Model a gold merger: Wedgetail buys Jabiru

    Allocate the purchase price, build pro forma EPS, cash flow and NAV per share, find the breakeven synergies and test the premium and the stock mix. 75 minutes