Counterfactual Simulation of Corporate Costs for Public Companies

Peter Bell

MPRA Paper from University Library of Munich, Germany

Abstract: This paper shows ways to simulate financial economic models for a mining exploration company. Two types of data are used: a time series of annual financial statements for a particular company and the stock exchange listing requirements for mining exploration companies in general. I describe how Kermode Resources Ltd.'s audited financial statements reflect different eras of leadership within the company over time and show how key corporate costs can vary as leadership and strategy change. I show a toy model of the costs of running a public company based on the constraints from the TSX Venture Exchange as a hypothetical company running on the edge of the listing requirements. I compare the bare-minimum cost profile of the hypothetical company under the listing requirements with similar corporate costs observed in Kermode Resources' financial statements over time.

Keywords: Engineering Economics; Mining; Royalties; Finance (search for similar items in EconPapers)
JEL-codes: C0 G0 L72 (search for similar items in EconPapers)
Date: 2025-09-12
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