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Modelled outcome — Entitlement appraisal
Net investor economics after entry costs, operations, debt interest and terminal disposal.
Equity required
$3,070,000
Including entry costs
Equity IRR
4.7%
Annualised; pre-tax
NPV
-$678,214
At 8% discount rate
Cash multiple
1.46×
Receipts / all cash outflows
Annual operating cash after debt interest
Annual operating cash before terminal sale proceeds · Modelled USD; exact values follow below.
Exit equity proceeds: $2,940,000, added in year 10. Unsold final-year allocation has no terminal value. Negative operating cash requires additional investor funding.
Annual water balance & investor cash
Opening carry loses 5% before joining new allocation; interest-only principal is repaid in full at exit.
| Year | Allocated ML | Sold ML | Carryout ML | Expired ML | Revenue USD | Operating cash USD |
|---|---|---|---|---|---|---|
| 1 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 2 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 3 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 4 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 5 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 6 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 7 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 8 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 9 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
| 10 | 700 | 700 | 0 | 0 | $175,000 | $153,500 |
No default, refinancing, tax or limited-liability floor is simulated.
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