GENERAL ASSUMPTIONS

MATERIAL PROPERTIES

Waste insitu density

swell factor

loose density

rippable material

un-rippable material

Coal insitu density

swell factor

loose density

YEARLY WORKING HOURS waste removal

Days per year

Official holiday

Available days per year

Shifts per day

Hours per shift

Available working hour per year

PA

UA

Effective hours

EQUIPMENT PERFORMANCE DECREASING FACTOR :

FINANCIAL PARAMETER

Exchange Rate US$ (rupiah)

Longterm loan interest rate (per year)

Shortterm loan interest rate (per year)

Deposit interest (per year)

Annual rates (per year)

D E R Debt

Equity

Fuel price (Rp/lt)

Lubricant price :

- Engine\Trans\Final Drive (Rp/lt)

- Hydraulic oil (Rp/lt)

- Grease (Rp/kg)

- Blasting cost (us$/bcm)

SALVAGE VALUE EQUIPMENT:

After 3 year

After 4 year

After 5 year

annual rates

Escalation rate per year :

- equipment price

- Fuel price

- spareparts

DEPRECIATION PERIOD (years)

discount rate

ADDITIONAL COST

Road Restribution US$/BCM

Weigh Bridge US$/ton

Stockpiling US$/ton

Trucking to barge US$/ton

Chemist US$/ton

Crushing US$/ton

Transhipment and stevedoors US$/ton

Draft Analysis US$/ton

Fee Load US$/ton

salesfee US$/ton

TOTAL

GENERAL ASSUMPTIONS

Produktifitas

HD785 455 m3/hrs 4km

WASTE SOIL HD255 75 m3/hrs 1,8km

(tonnes/bcm) 2.20 1.80 PC3000 3000 lcm/hrs

1.30 1.24 PC400 400 lcm/hrs

(tonnes/lcm) 1.69 1.45

PIT I PIT II

(% of OB Vol) 0.25 0.20

(% of OB Vol) 0.75 0.80

(tonnes/bcm) 1.30

1.30

(tonnes/lcm) 1.00

waste removal coal removal

360 360

10 10

350 350

2 2

12 12

8400 8400

90% 90%

70% 70%

5292 5292

YEAR

2009 2010 2011 2012 2013

1 1 0.95 0.95 0.925

1 1 0.95 0.95 0.925

9200

8.00%

9.00%

7.50%

13.00%

0.7

0.3

7500

14365

10008

21356

0.15

40%

30%

25%

0.13

0.02

0

0.02

5

10%

0.05

0

0.5

0.1

0

1

1.25

0

0.5

2

5.4

MATERIAL SCHEDULE

ACTIVITY (unit) Year-1 Year-2 Year-3A. PreparationLandclearing ha 100 100 100Topsoil removal bcm 1,000,000 1,000,000 1,000,000Topsoil hauling distance m 1,500 1,500 1,500

B. OB removalOB removal bcm 10,000,000 18,000,000 26,000,000OB hauling distance m 1,000 1,000 1,000Total waste bcm 11,000,000 19,000,000 27,000,000

Blasted Material 75% bcm 7,500,000 13,500,000 19,500,000Rippable Material 25% bcm 2,500,000 4,500,000 6,500,000

C. Coal gettingCoal Removal ton 1,000,000 1,500,000 2,000,000Coal hauling distance m 15,000 15,000 15,000Stripping Ratio bcm/ton 10 12 13

D. Rippable OB- LoadingPC1250 100% bcm 2,500,000 4,500,000 6,500,000- HaulingHD465 100% bcm 2,500,000 4,500,000 6,500,000

E. Blasted OB- LoadingPC2000 70% bcm 5,250,000 9,450,000 13,650,000PC1250 30% bcm 2,250,000 4,050,000 5,850,000- HaulingHD7855 60% bcm 4,500,000 8,100,000 11,700,000HD465 40% bcm 3,000,000 5,400,000 7,800,000- Spreading DisposalD375 72% bcm 5,400,000 9,720,000 14,040,000D155 28% bcm 2,100,000 3,780,000 5,460,000

F. Coal Mining- RippingD375 100% ton 1,000,000 1,500,000 2,000,000- LoadingPC750 100% ton 1,000,000 1,500,000 2,000,000- HaulingCWB-520 100% ton 1,000,000 1,500,000 2,000,000

Year-4 Year-5 TOTAL

100 100 5001,000,000 1,000,000 5,000,000

1,500 1,500 7,500

26,000,000 26,000,000 106,000,0001,000 1,000 5,000

27,000,000 27,000,000 111,000,000

19,500,000 19,500,000 79,500,0006,500,000 6,500,000 26,500,000

2,000,000 2,000,000 8,500,00015,000 15,000 75,000

13 13 12

6,500,000 6,500,000 26,500,000

6,500,000 6,500,000 26,500,000

13,650,000 13,650,000 55,650,0005,850,000 5,850,000 23,850,000

11,700,000 11,700,000 47,700,0007,800,000 7,800,000 31,800,000

14,040,000 14,040,000 57,240,0005,460,000 5,460,000 22,260,000

2,000,000 2,000,000 8,500,000

2,000,000 2,000,000 8,500,000

2,000,000 2,000,000 8,500,000

EQUIPMENT WORKING HOURS

ACTIVITY Year-1 Year-2 Year-3A. Land clearing

D85SS 666.67 666.67 666.67

B. Top soiling- Point loadingD85SS 4,200.00 4,200.00 4,200.00 - LoadingPC750 3,240.74 3,240.74 3,240.74 - HaulingBMA40 18,061.73 18,061.73 18,061.73 - SpreadingD85SS 4,200.00 4,200.00 4,200.00

C. OB removal rippable- Ripping/DozingD375 5,555.56 10,000.00 14,444.44 - LoadingPC1250 4,795.40 8,631.71 12,468.03 - HaulingHD465 19,881.57 35,786.82 51,692.07 - Spreading disposalD155 6,250.00 11,250.00 16,250.00

D. OB removal blasted- DrillingSKF50 1,877.64 3,379.75 4,881.87 - LoadingPC2000 5,408.14 9,734.65 14,061.17 PC1250 4,315.86 7,768.54 11,221.23 - HaulingHD7855 18,508.55 33,315.39 48,122.22 HD465 23,857.88 42,944.19 62,030.49 - Spreading disposalD375 9,000.00 16,200.00 23,400.00 D155 6,000.00 10,800.00 15,600.00

E. COAL MINING- RippingD375 1,818.18 2,727.27 3,636.36 - LoadingPC750 2,652.03 3,978.05 5,304.07 - HaulingCWB-520 64,975.62 97,463.43 129,951.24

SUMMARY OF EQUIPMENT WORKING HOURS

No EQUIPMENT Year-1 Year-2 Year-3

1 Drilling SKF50 1,877.64 3,379.75 4,881.87 2 Dozer D375 16,373.74 28,927.27 41,480.81 3 Dozer D155 12,250.00 22,050.00 31,850.00 4 Dozer D85SS 9,066.67 9,066.67 9,066.67 5 Excavator PC2000 5,408.14 9,734.65 14,061.17 6 Excavator PC1250 9,111.25 16,400.26 23,689.26 7 Excavator PC750 5,892.78 7,218.79 8,544.81 8 Dump Truck HD7855 18,508.55 33,315.39 48,122.22 9 Dump Truck HD465 43,739.45 78,731.01 113,722.56 10 Speader BMA40 18,061.73 18,061.73 18,061.73 11 Haul Truck CWB-520 64,975.62 97,463.43 129,951.24

SUMMARY OF EQUIPMENT WORKING HOURS

No ACTIVITY Year-1 Year-2 Year-3A. TOPSOIL ACTIVITY

D85SS 9,066.67 9,066.67 9,066.67 PC750 3,240.74 3,240.74 3,240.74 BMA40 18,061.73 18,061.73 18,061.73

B. OB ACTIVITYSKF50 1,877.64 3,379.75 4,881.87 D375 14,555.56 26,200.00 37,844.44 D155 12,250.00 22,050.00 31,850.00 PC2000 5,408.14 9,734.65 14,061.17 PC1250 9,111.25 16,400.26 23,689.26 HD7855 18,508.55 33,315.39 48,122.22 HD465 43,739.45 78,731.01 113,722.56

C. COAL ACTIVITYD375 1,818.18 2,727.27 3,636.36 PC750 2,652.03 3,978.05 5,304.07 CWB-520 64,975.62 97,463.43 129,951.24

Year-4 Year-5 TOTAL

666.67 666.67 3,333.33

4,200.00 4,200.00 21,000.00

3,240.74 3,240.74 16,203.70

18,061.73 18,061.73 90,308.64

4,200.00 4,200.00 21,000.00

14,444.44 14,444.44 58,888.89

12,468.03 12,468.03 50,831.20

51,692.07 51,692.07 210,744.61

16,250.00 16,250.00 66,250.00

4,881.87 4,881.87 19,902.99

14,061.17 14,061.17 57,326.30 11,221.23 11,221.23 45,748.08

48,122.22 48,122.22 196,190.60 62,030.49 62,030.49 252,893.54

23,400.00 23,400.00 95,400.00 15,600.00 15,600.00 63,600.00

3,636.36 3,636.36 15,454.55

5,304.07 5,304.07 22,542.30

129,951.24 129,951.24 552,292.77

Year-4 Year-5 TOTAL

4,881.87 4,881.87 19,902.99 41,480.81 41,480.81 169,743.43 31,850.00 31,850.00 129,850.00 9,066.67 9,066.67 45,333.33 14,061.17 14,061.17 57,326.30 23,689.26 23,689.26 96,579.28 8,544.81 8,544.81 38,746.00 48,122.22 48,122.22 196,190.60 113,722.56 113,722.56 463,638.15 18,061.73 18,061.73 90,308.64 129,951.24 129,951.24 552,292.77

Year-4 Year-5 TOTAL

9,066.67 9,066.67 45,333.33 3,240.74 3,240.74 16,203.70 18,061.73 18,061.73 90,308.64

4,881.87 4,881.87 19,902.99 37,844.44 37,844.44 154,288.89 31,850.00 31,850.00 129,850.00 14,061.17 14,061.17 57,326.30 23,689.26 23,689.26 96,579.28 48,122.22 48,122.22 196,190.60 113,722.56 113,722.56 463,638.15

3,636.36 3,636.36 15,454.55 5,304.07 5,304.07 22,542.30 129,951.24 129,951.24 552,292.77

EQUIPMENT REQUIREMENT

ACTIVITY Year-1 Year-2 Year-3 Year-4 Year-5A. Land clearing

D85SS 0.1 0.1 0.1 0.1 0.1

B. Top soiling- Point loadingD85SS 0.8 0.8 0.8 0.8 0.8 - LoadingPC750 0.6 0.6 0.6 0.6 0.6 - HaulingBMA40 3.4 3.4 3.4 3.4 3.4 - SpreadingD85SS 0.8 0.8 0.8 0.8 0.8

C. OB removal rippable- Ripping/DozingD375 1.0 1.9 2.7 2.7 2.7 - LoadingPC1250 0.9 1.6 2.4 2.4 2.4 - HaulingHD465 3.75690992 6.8 9.8 9.8 9.8 - Spreading disposalD155 1.2 2.1 3.1 3.1 3.1

D. OB removal blasted- DrillingSKF50 0.35480734 0.6 0.9 0.9 0.9 - LoadingPC2000 1.0 1.8 2.7 2.7 2.7 PC1250 0.8 1.5 2.1 2.1 2.1 - HaulingHD7855 3.49745797 6.3 9.1 9.1 9.1 HD465 4.5082919 8.1 11.7 11.7 11.7 - Spreading disposalD375 1.7 3.1 4.4 4.4 4.4 D155 1.1 2.0 2.9 2.9 2.9

E. COAL MINING- RippingD375 0.3 0.5 0.7 0.7 0.7 - LoadingPC750 0.5 0.8 1.0 1.0 1.0 - HaulingCWB-520 12.2780839 18.4 24.6 24.6 24.6

SUMMARY OF EQUIPMENT REQUIREMENT

No EQUIPMENT Year-1 Year-2 Year-3 Year-41 SKF50 0.4 0.6 0.9 0.9

2 D375 3.1 5.5 7.8 7.8 3 D155 2.3 4.2 6.0 6.0 4 D85SS 1.7 1.7 1.7 1.7 5 PC2000 1.0 1.8 2.7 2.7 6 PC1250 1.7 3.1 4.5 4.5 7 PC750 1.1 1.4 1.6 1.6 8 HD7855 3.5 6.3 9.1 9.1 9 HD465 8.3 14.9 21.5 21.5 10 BMA40 3.4 3.4 3.4 3.4 11 CWB-520 12.3 18.4 24.6 24.6

SUMMARY OF EQUIPMENT REQUIREMENT

No EQUIPMENT Year-1 Year-2 Year-3 Year-41 SKF50 1 1 1 1 2 D375 4 6 8 8 3 D155 3 5 7 7 4 D85SS 2 2 2 2 5 PC2000 2 2 3 3 6 PC1250 2 4 5 5 7 PC750 2 2 2 2 8 HD7855 4 7 10 10 9 HD465 9 15 22 22 10 BMA40 4 4 4 4 11 CWB-520 13 19 25 25

PEAK

0.1

0.8

0.6

3.4

0.8

2.7

2.4

9.8

3.1

0.9

2.7 2.1

9.1 11.7

4.4 2.9

0.7

1.0

24.6

Year-5 TOTAL 0.9 0.9

7.8 7.8 6.0 6.0 1.7 1.7 2.7 2.7 4.5 4.5 1.6 1.6 9.1 9.1 21.5 21.5 3.4 3.4 24.6 24.6

Year-5 TOTAL 1 1 8 8 7 7 2 2 3 3 5 5 2 2 10 10 22 22 4 4 25 25

CAPITAL EXPENDITURE

TYPE Year-0 Year-1 Year-2A. INFRASTRUCTURE

Office, Mess, Workshop 1,000,000

B. EQUIPMENT INVESTMENTTYPE UNIT PRICE ($) Year-0 Year-1 Year-2SKF50 1 - - D375 4 2 2 D155 3 2 2 D85SS 2 - - PC2000 2 - 1 PC1250 2 2 1 PC750 2 - - HD7855 4 3 3 HD465 9 6 7 BMA40 4 - - CWB-520 13 6 6

SKF50 806,700 806700 0 0D375 573,250 2,293,000 1,146,500 1,146,500D155 378,900 1,136,700 757,800 757,800D85SS 270,000 540,000 0 0PC2000 1,431,000 2,862,000 0 1,431,000PC1250 712,250 1,424,500 1,424,500 712,250PC750 503,100 1,006,200 0 0HD7855 706,000 2,824,000 2,118,000 2,118,000HD465 460,506 4,144,554 2,763,036 3,223,542BMA40 350,110 1,400,440 0 0CWB-520 135,000 1,755,000 810,000 810,000TOTAL CAPITAL EXPENDITURE 20,193,094 9,019,836 10,199,092

Year-3 Year-4 Year-5 TOTAL

1,000,000

Year-3 Year-4 Year-5 TOTAL - - - 1 - - - 8 - - - 7 - - - 2 - - - 3 - - - 5 - - - 2 - - - 10 - - - 22 - - - 4 - - - 25

0 0 0 806,7000 0 0 4,586,0000 0 0 2,652,3000 0 0 540,0000 0 0 4,293,0000 0 0 3,561,2500 0 0 1,006,2000 0 0 7,060,0000 0 0 10,131,1320 0 0 1,400,4400 0 0 3,375,0000 0 0 39,412,022

OPERATING COST

No ACTIVITY Unit Year-1 Year-2 Material Schedule

1 Topsoil removal bcm 1,000,000.00 1,000,000.00 2 OB Removal bcm 10,000,000.00 18,000,000.00 3 Total waste bcm 11,000,000.00 19,000,000.00 4 Blasting Material ton 7,500,000.00 13,500,000.00 5 Coal Removal ton 1,000,000.00 1,500,000.00

No EQUIPMENT Unit OC Year-1 Year-21 SKF50 $/hour 103.00 193,397 348,115 2 D375 $/hour 91.00 1,490,010 2,632,382 3 D155 $/hour 67.00 820,750 1,477,350 4 D85SS $/hour 45.50 412,533 412,533 5 PC2000 $/hour 170.00 919,384 1,654,891 6 PC1250 $/hour 105.00 956,682 1,722,027 7 PC750 $/hour 75.00 441,958 541,409 8 HD7855 $/hour 119.00 2,753,146 4,955,664 9 HD465 $/hour 89.00 4,866,014 8,758,824 10 BMA40 $/hour 65.00 1,174,012 1,174,012 11 CWB-520 $/hour 27.00 2,192,927 3,289,391

SUBTOTAL $/hour 956.50 16,220,814 26,966,598

No ACTIVITY Unit OC Year-1 Year-21 Blasting cost $/ton 0.05 375,000.00 675,000.00 2 Road Maintenance Cost OB $/bcm 0.03 330,000.00 570,000.00 3 Road Maintenance Cost CO $/ton 0.04 40,000.00 60,000.00

SUBTOTAL 745,000.00 1,305,000.00

TOTAL EQ COST 16965813.7682 28,271,598.50 OVERHEAD COST 10% 1,696,581.38 2,827,159.85 OPERATING EXPENSES 18,662,395.15 31,098,758.35

PROFIT 15% 3,293,363.85 5,488,016.18

TOTAL OPERATING COST 21,955,758.99 36,586,774.53

COST PER TON COAL 21.96 24.39

EQUIPMENT OPERATING COST PER ACTIVITY

ACTIVITY Unit OC Year-1 Year-2A. Top soil activity

D85SS $/hour 45.50 412,533.33 412,533.33 PC750 $/hour 75.00 243,055.56 243,055.56 BMA40 $/hour 65.00 1,174,012.35 1,174,012.35 SUB TOTAL 1,829,601.23 1,829,601.23 OVERHEAD COST 10% 182,960.12 182,960.12

2,012,561.36 2,012,561.36 PROFIT 15% 355,157.89 355,157.89

TOTAL REVENUE TOPSOIL 2,367,719.24 2,367,719.24 Unit Cost top soiling $/bcm 2.37 2.37

B. OB activitySKF50 $/hour 103.00 193,396.96 348,114.54 D375 $/hour 91.00 1,324,555.56 2,384,200.00 D155 $/hour 67.00 820,750.00 1,477,350.00 PC2000 $/hour 170.00 919,384.06 1,654,891.30 PC1250 $/hour 105.00 956,681.59 1,722,026.85 HD7855 $/hour 119.00 2,753,146.45 4,955,663.62 HD465 $/hour 89.00 4,866,013.59 8,758,824.47 BLASTING COST 375,000.00 675,000.00 ROAD MAINTENANCE 330,000.00 570,000.00 SUB TOTAL 12,538,928.21 22,546,070.78 OVERHEAD COST 10% 1253892.8211 2,254,607.08

13,792,821.03 24,800,677.86 PROFIT 15% 2,434,027.24 4,376,590.21 TOTAL REVENUE OB 16,226,848.27 29,177,268.07 Unit Cost OB removal $/bcm 1.62 1.62

C. Coal ActivityD375 $/hour 91.00 165,454.55 248,181.82 PC750 $/hour 75.00 198,902.61 298,353.91 CWB-520 $/hour 27.00 2,192,927.17 3,289,390.76 ROAD MAINTENANCE 40,000.00 60,000.00 SUB TOTAL 2,597,284.32 3,895,926.48 OVERHEAD COST 10% 259728.432263 389,592.65

2,857,012.75 4,285,519.13 PROFIT 15% 504,178.72 756,268.08 TOTAL REVENUE COAL 3,361,191.48 5,041,787.21 Unit Cost coal getting $/ton 3.36 3.36

- -

Year-3 Year-4 Year-5 TOTAL

1,000,000.00 1,000,000.00 1,000,000.00 5,000,000.00 26,000,000.00 26,000,000.00 26,000,000.00 106,000,000.00 27,000,000.00 27,000,000.00 27,000,000.00 111,000,000.00 19,500,000.00 19,500,000.00 19,500,000.00 79,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 8,500,000.00

Year-3 Year-4 Year-5 TOTAL 502,832 502,832 502,832 2,050,008 3,774,754 3,774,754 3,774,754 15,446,653 2,133,950 2,133,950 2,133,950 8,699,950 412,533 412,533 412,533 2,390,399 2,390,399 2,390,399 9,745,471 2,487,372 2,487,372 2,487,372 10,140,825 640,861 640,861 640,861 2,905,950 7,158,181 7,158,181 7,158,181 29,183,352 12,651,635 12,651,635 12,651,635 51,579,744 1,174,012 1,174,012 1,174,012 5,870,062 4,385,854 4,385,854 4,385,854 18,639,881 37,712,383 37,712,383 37,712,383 154,261,895

Year-3 Year-4 Year-5 TOTAL 975,000.00 975,000.00 975,000.00 3,975,000.00 810,000.00 810,000.00 810,000.00 3,330,000.00 80,000.00 80,000.00 80,000.00 340,000.00 1,865,000.00 1,865,000.00 1,865,000.00 7,645,000.00

39,577,383.23 39,577,383.23 39,577,383.23 163,969,561.95 3,957,738.32 3,957,738.32 3,957,738.32 16,396,956.20 43,535,121.55 43,535,121.55 43,535,121.55 180,366,518.15

7,682,668.51 7,682,668.51 7,682,668.51 31,829,385.56

51,217,790.06 51,217,790.06 51,217,790.06 212,195,903.70

25.61 25.61 25.61 24.96

Year-3 Year-4 Year-5 TOTAL

412,533.33 412,533.33 412,533.33 2,062,666.67 243,055.56 243,055.56 243,055.56 1,215,277.78 1,174,012.35 1,174,012.35 1,174,012.35 5,870,061.73 1,829,601.23 1,829,601.23 1,829,601.23 9,148,006.17 182,960.12 182,960.12 182,960.12 16,233,345.68 2,012,561.36 2,012,561.36 2,012,561.36 31,251,413.58 355,157.89 355,157.89 355,157.89 1,775,789.43

2,367,719.24 2,367,719.24 2,367,719.24 11,838,596.22 2.37 2.37 2.37 2.37

502,832.11 502,832.11 502,832.11 2,050,007.82 3,443,844.44 3,443,844.44 3,443,844.44 14,040,288.89 2,133,950.00 2,133,950.00 2,133,950.00 8,699,950.00 2,390,398.55 2,390,398.55 2,390,398.55 9,745,471.01 2,487,372.12 2,487,372.12 2,487,372.12 10,140,824.81 7,158,180.78 7,158,180.78 7,158,180.78 29,183,352 12,651,635.35 12,651,635.35 12,651,635.35 51,579,744 975,000.00 975,000.00 975,000.00 3,975,000.00 810,000.00 810,000.00 810,000.00 3,330,000.00 32,553,213.35 32,553,213.35 32,553,213.35 132,744,639.04 3,255,321.33 3,255,321.33 3,255,321.33 13,274,463.90 35,808,534.68 35,808,534.68 35,808,534.68 146,019,102.94 6,319,153.18 6,319,153.18 6,319,153.18 25,768,076.99 42,127,687.86 42,127,687.86 42,127,687.86 171,787,179.93 1.62 1.62 1.62 1.62

330,909.09 330,909.09 330,909.09 1,406,363.64 397,805.21 397,805.21 397,805.21 1,690,672.15 4,385,854.34 4,385,854.34 4,385,854.34 18,639,880.95 80,000.00 80,000.00 80,000.00 340,000.00 5,194,568.65 5,194,568.65 5,194,568.65 22,076,916.74 519,456.86 519,456.86 519,456.86 2,207,691.67 5,714,025.51 5,714,025.51 5,714,025.51 24,284,608.42 1,008,357.44 1,008,357.44 1,008,357.44 4,285,519.13 6,722,382.95 6,722,382.95 6,722,382.95 28,570,127.55 3.36 3.36 3.36 3.36

- - - -

EQUIPMENT PRODUCTIVITY

A. FLEET TOPSOIL

Topsoil loading productivityPC750

Bucket capacity m3 4Loading cycle time second 28Efficiency factor 75%Swell factor 1.25 SG topsoil ton/bcm 2.00

ton/lcm 1.6Topsoil loading productivity bcm/hour 309

Topsoil hauling productivityPC750-BMA40

PC750Bucket capacity lcm 4

bcm 3.08 Cycle time loading second 27

min 0.45

BMA40Vessel capacity ton 40

bcm 16 n cycle 6.00 Loading time 2.70 Loaded average speed km/hour 18Empty average speed km/hour 25Dumping time min 1Spot time min 1Hauling distance km 1.5Cycle time min 0.22 Efficiency factor 75%Topsoil hauling productivity bcm/hour 55

B. FLEET OB

OB loading-hauling productivityPC2000 PC1250SP7

Bucket capacity lcm 13.0 6.5 bcm/hour 10.0 5.0

Cycle time loading second 29.0 27.0 min 0.48 0.45

Bucket fill factor 0.92 0.92 Eff Factor 85% 85%OB loading productivity bcm/hour 971 521

HD7855 HD465 HD7855Vessel capacity ton 95 51 95

bcm 40 21 40

n cycle 4.00 3.00 8.00 Loading time min 1.93 1.45 3.60 Loaded average speed km/hour 25 25 25Empty average speed km/hour 30 30 30Dumping time min 1.0 1.0 1.0 Spot time min 1.0 1.0 1.0 Hauling distance km 1.0 1.0 1.0 Cycle time hour 0.1388889 0.1308333333 0.166666667Efficiency factor 85% 85% 85%OB hauling productivity bcm/hour 243.13091 138.55935148 202.6090909

C. FLEET COAL

Coal loading-hauling productivityPC750

Bucket capacity lcm 4.5ton 4.5

Cycletime loading second 29.00 min 0.48

Bucket fill factor 90%Efficiency factor 75%Coal loading productivity ton/hour 377

CWB520Vessel capacity ton 18n cycle 4.00 Loading time 1.93 Loaded average speed km/hour 30Empty average speed km/hour 35Dumping time min 1Spot time min 1Hauling distance km 15Cycle time min 0.994127Efficiency factor 85%Coal hauling productivity ton/hour 15.390388

D. Landclearing

D85SS 0.15 ha/hour

HD46551

21

5.00 2.25

2530

1.0 1.0 1.0 0.144167

85%125.7446

DRILLING

Drilling and BlastingDrilling Equipment SKF50Drilling Productivity 70.0 m/hourHole Diameter 8 inch

0.2032 m Un-Rippeable (blasting) 75%

Unit Year-1 Year-2 Year-3Blasting Material bcm 7,500,000 13,500,000 19,500,000 Burden (3.3D) m 7.5 7.5 7.5 Spacing (1.1B) m 8.3 8.3 8.3 Bench heigth m 11.0 11.0 11.0 Subdrill m 1.0 1.0 1.0 Hole Depth m 12.0 12.0 12.0 Number of hole each 10952.90252 19,715 28,478

m 131434.8302 236,582.69 341,730.56 Working hours hour 1877.640432 3,379.75 4,881.87

Year-4 Year-5 TOTAL 19,500,000 19,500,000 79,500,000 7.5 7.5 38 8.3 8.3 42 11.0 11.0 55 1.0 1.0 5 12.0 12.0 60 28,478 28,478 116,101 341,730.56 341,730.56 1,393,209 4,881.87 4,881.87 19,903

ASSET DEPRECIATION

ASSET Unit Year-0 Year-1 Year-2

Equipment $ 20,193,094.00 9,019,836.00 10,199,092.00 Infrastructure $ 1,000,000.00 Total Investment $ 21,193,094.00 9,019,836.00 10,199,092.00

Depreciation $ 4,238,618.80 4,238,618.80 $ 2,254,959.00 $

Total Depreciation $ - 4,238,618.80 6,493,577.80

Salvage Value

ASSET Terminal Value Year-0 Year-1 Year-2Equip Usage 3 year 40%Equip Usage 4 year 30%Equip Usage 4 year 25%Total Salvage Value

Year-3 Year-4 Year-5 TOTAL

- - 39,412,022.00 1,000,000.00

- - - 40,412,022.00

4,238,618.80 4,238,618.80 4,238,618.80 21,193,094.00 2,254,959.00 2,254,959.00 2,254,959.00 9,019,836.00 3,399,697.33 3,399,697.33 3,399,697.33 10,199,092.00 9,893,275.13 9,893,275.13 9,893,275.13 40,412,022.00

Year-3 Year-4 Year-5 TOTAL 4,079,636.80 4,079,636.80 2,705,950.80 2,705,950.80 5,048,273.50 5,048,273.50 11,833,861.10 11,833,861.10

CASH FLOW

Unit Year-0 Year-1Investment

- Infrastructure $ (1,000,000.00)- Equipment $ (20,193,094.00) (9,019,836.00)= Total Investment (21,193,094.00) (9,019,836.00)

ProductionTopsoil $ 1,000,000.00 OB $ 10,000,000.00 Coal $ 1,000,000.00 RevenueTopsoil $ 2.37 2,367,719.24 OB $ 1.62 16,206,337.73 Coal $ 3.36 3,361,191.48 Salvage Value

= Total Revenue 21,935,248.45 - Operating Expense (18,662,395.15)= Operating Earning (EBIT) 3,272,853.31 - Depreciation (4,238,618.80)- Amortization- Interest= Taxable Income (965,765.49)- Taxable Income 30% - = Net Income (965,765.49)+ Add back Depreciation 4,238,618.80 + Borrowed money

- Principal Payment 4,238,618.80

= CASH FLOW (42,386,188.00) (1,508,363.89)= CUM. CASH FLOW (42,386,188.00) (43,894,551.89)

i 10% NPV @10% (594,437.87) IRR 10%

Unit Year-0 Year-1Capital 21,193,094.00 9,019,836.00 Net Asset 21,193,094.00 25,974,311.20 Net Income (965,765.49)ROI -5%EVA (3,085,074.89)Profit Margin -4.40%Cost Of Capital 10% 2,119,309.40 2,597,431.12

Year-2 Year-3 Year-4 Year-5 TOTAL

(1,000,000.00) (10,199,092.00) (39,412,022.00) (10,199,092.00) - - - (40,412,022.00)

1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 5,000,000.00 18,000,000.00 26,000,000.00 26,000,000.00 26,000,000.00 106,000,000.00 1,500,000.00 2,000,000.00 2,000,000.00 2,000,000.00 8,500,000.00

2,367,719.24 2,367,719.24 2,367,719.24 2,367,719.24 11,838,596.22 29,171,407.91 42,136,478.10 42,136,478.10 42,136,478.10 171,787,179.93 5,041,787.21 6,722,382.95 6,722,382.95 6,722,382.95 28,570,127.55

11,833,861.10 11,833,861.10 36,580,914.37 51,226,580.29 51,226,580.29 63,060,441.39 224,029,764.80 (31,098,758.35) (43,535,121.55) (43,535,121.55) (43,535,121.55) (180,366,518.15) 5,482,156.02 7,691,458.74 7,691,458.74 19,525,319.84 43,663,246.66 (6,493,577.80) (9,893,275.13) (9,893,275.13) (9,893,275.13) (40,412,022.00)

(1,011,421.78) (2,201,816.39) (2,201,816.39) 9,632,044.71 3,251,224.66 - - - 2,889,613.41 2,889,613.41 (1,011,421.78) (2,201,816.39) (2,201,816.39) 6,742,431.30 361,611.24 6,493,577.80 9,893,275.13 9,893,275.13 9,893,275.13 40,412,022.00

6,493,577.80 9,893,275.13 9,893,275.13 9,893,275.13 40,412,022.00

1,776,641.82 17,584,733.88 17,584,733.88 26,528,981.56 19,580,539.24 (42,117,910.07) (24,533,176.20) (6,948,442.32) 19,580,539.24

Year-2 Year-3 Year-4 Year-5 TOTAL 10,199,092.00 - - - 29,679,825.40 19,786,550.27 9,893,275.13 - (1,011,421.78) (2,201,816.39) (2,201,816.39) 6,742,431.30

-4% -7% -11% 68% (3,608,852.90) (5,169,798.93) (4,180,471.42) 5,753,103.78

-2.76% -4.30% -4.30% 10.69% 2,967,982.54 1,978,655.03 989,327.51 -