基于期权定价理论的矿业工程评估模型
Mining Project Evaluation Model Based on Options Pricing Theory
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摘要: 折现现金流法是工程评估最常用的方法,但其低估了矿业开发价值.运用管理选择权,遵循标准的期权定价过程,建立了矿业开发价值和矿业工程评估模型,为投资决策提供了新的思路和量化工具.Abstract: Discounted cash flow (DCF) techniques are widely used for valuing project investment. But this convention DCF has a pitfall that underestimates the value of the mine. Using mining management flexibility and following options pricing processes, new approach and quantitative tools to the value of a mine and the project evaluation are developed.