the market cap for the float is about equal to the price of 2 new cat 740's
Equipment Valuation Estimates by Kubiask5-
The following is Kubi's equipment post.
"There are pictures taken from the mine that shows almost, if not all, of this equipment. You can check the dates on the pics and create a sequence that shows the evolution of the pieces weve gotten over the last year or so. Pretty cool IMO.
I(Kubi) decided to take some time on the various interweb sites and pull together a potential range for the value of our equipment. Some important variables to consider when critiquing the ranges is that a few pieces may be rental still, but not many. another is the used vs. New pricing. There were more than a few items I couldnt match up by year due to picture analysis, but there are also many items that we know are new or used, so that helped.
Basically there will be three tiers, the first being the extreme high end of the spectrum. It contains values of mostly new items, and knowing Bobs mechanical aptitude and our finite budget it stands to reason the final number there is inflated. The third tier is the extreme low end, made up of alot of the junkier, older versions of the equipment. And the middle tier is my wild azz guess. It is within a range of where most of the equipment online is sitting when comparing apple to apples to apples as best as I can.
The vast majority of companies safeguard their pricing, so i had to use various outlets to piece this together. On my middle estimates, I would say if im wrong and the number is lower, its wont be by much. But if im wrong and the number is higher, it could be by a decent margin. Its hard to know with the rebuilt equipment, as well as the reverse deterioration of value on the newer stuff, so I maintained a realistic tone when pricing this out. One thing I can say with confidence, is that CWRN is going after only the premium equipment on our site. The vast majority of available used equipment on the market is junk compared to the pieces we have. Not only that, each piece is pretty much one of the big daddys in their own sector. Theyve done a remarkable job of vetting the maximimum bang for our buck while keeping the focus
on growth.
1.) Cat 375 with ripper, Used rebuilt- $600,000, 425,000 300,000.
2.) Cat 365 Used, rebuilt. 500,000, 350,000, 200,000.
3.)Cat 330, Used. 300,000, 250,000, 150,000.
4.)Cat 330, Used. 300,000, 250,000, 150,000.
5-7.) Chinese 220 used or rented. Saw a 230 for 200k, but 175,000, 150,000, 100,000.
Its true these machines are worth more new, but I have no proof showing they are, so I went with what I felt the current market was dictating.
Excavators- $2,250,000, $1,725,000, $1,100,000.
Dozers:
8-9.) D8R CAT (each, new or used unknown) $800,000, $500,000, $350,000 (beat up 2006 and 2007)
10.) D8N CAT(used) $600,000, 400,000, 150,000.
The dozers we have are absolutely top of the line. they are miles apart in quality compared to what is available out there. The d8n valuation was pretty inconclusive however, but I found a 1996 at 250k and a 1992 at 120,000, and ours appears to be newer than that, certainly in better shape, even if it is what appears to be a retired model.
Dozer Valuations: $2,200,200, $1,400,000, $850,000.
Articulated Trucks.
11-12.) CAT 740 (unknown new or used) $600,000, $350,000, $150,000.
These trucks are, again, top of the line. I am seeing a trend. But the 2003-2004s were in the 150k to 200k range, while the $350k was the 2004-2008 range.
Articulated Truck Valuation- $1,200,000, $700,000, $300,000.
Loaders:
13.)Terex 400-2XL (used) $250,000, $150,000, $85,000
14.)Cat 966 $400,000, 200,000, 100,000
15.)Cat 950 $250,000, 150,000, 100,000.
16.) Chinese 340 $150,000 80,000, 40,000
Again the Terex and Cat966 are both studs in their respective posts. It was hard pinpointing pricing in this section though for some reason. I was mainly in the 2004-2006 year range when it came to finding actual pricing.
Loader Valuation- $1,050,000, $$580,000, $325,000.
Utility trucks.
17.) ford f-450 $40,000 $25,000 $15,000
Ford Bronco- Priceless
18.) International Water Truck- $100,000, $25,000, $15,000
19.) Ford f-150 $30,000, 20,000, $10,000.
I didnt realize the diversity of Water Trucks or the wide spread in pricing, so I had to wing it as quotes were plentiful. And its likely the Ford Bronco now has James Bond-like capability covering the hull, so a proper valuation couldnt be placed.
Utility Truck Valuation- $170,000, $70,000, $40,000.
Separators:
Thunderbird custom valuation was near impossible to figure out. There are a bajillion types of mag separators too. My WAG is $250,00, $150,000, $75000.
The Powerscreen equipment pieces were valued at over $1,500,000 in the PRs. I believe these pieces to be new purchases at the time. They would likely include the Two 2100s, The XL400, The 1400, and the 800. There is a possibility one of these pieces was added after the initial $1,500,000, so the high end valuation will include this possibility. i found some newer used 2100s for over 200k, 1400s for 175 and up, but it is unecesary as we have the likely valuation from the PR.
Items 21, 22, 24, 25, 26 Valuation $2,000,000, $1,600,000, 1,300,000.
23.) Powerscreen 830 (rebuilt trommel) there were some trashed versions at $100k to $180k, and again this equipment is at the high end of the quality spectrum, in terms of the specs as well as the durability and cosmetic, etc. it isnt new however Valuation-$600,000, $400,000, $250,000.
So I think that wraps it up. Again this is just my interpretation of what current potential market valuations would be. I strongly feel our equipment is better than the vast majority if available equipment within similar price ranges...it was VERY noticeable. A positive takeaway for sure. So the totals for all equipment end up being:
Very High End Estimate: $9,720,000
Very Low End Estimate:$4,250,000
My Wild Azz Guess:$7,025,000
So there ya have it Longs. Again theres potential for a slight downward surprise, as well as potential for a moderate upsize surprise from my WAG. It gives us something to work off of anywho. And given the profitability of the industry, and the potential revenue we have already seen, these look like reasonable numbers, IMO.
