Hi Microcaps..  I get most of my numbers and price guesses are from the online auction sites selling heavy equipment, so a lot of the #'s could be a mile off. I've been looking for super deals for about a year now, and it seems to me the equipment usually depreciates in value about 13-15% per year for the first 15 years and after that a bit less. You also have to keep in mind, equipment that has spent it's life in a sand pit, is going to be worth a lot more at selling time than the equipment from an iron mine. So really the equipment value is worth more as a tax write off than actual value over the years. I would guess Bob has close to 3 million invested in equipment and rebuilding costs to date. Our big value is the stuff in the ground imo.