Analyst - Case Study Assessment

Situational Briefing
 One of the Directors in the team is travelling and has just taken a call from a key client that has expressed an interest in
considering making an offer to BC Iron for its interest in the Nullagine JV
 A meeting is scheduled for Monday and you have been asked to prepare an operational cash flow model for the Nullagine
mine and to assemble two summary slides to present to the client on the project and the financial analysis undertaken
 Delivery of the materials is required by email no later than 9am (Sydney time) on Monday 19th January
 Consider the task as an opportunity to demonstrate your technical modelling skills and to highlight your ability to draw out the
most relevant information in support of your analysis

Modelling Task
 Develop an operational cash flow model (from scratch without utilising pre-existing templates)
 Ensure that sufficient detail exists to understand the revenue and cost components of the operation
 Have the ability to flex key assumptions down to cash flows and NPV
 Assess the potential debt capacity of the asset under various scenarios

Presentation Task
 Develop two clear and concise slides that will effectively demonstrate our understanding of the asset and the key value
drivers and outcomes, comprising:
1) An overview of the asset, selecting the most relevant information to convey
2) An overview of the valuation and debt sizing approach, including key outputs and sensitivities