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Potash Simulation Example<br />

vm-l0<br />

Year 1995 1996 1997 1998 1999 2000<br />

Net Invest 0 0 0 0 0 0<br />

Tons Mined 1734288 1734288 1734288 1734288 1750897<br />

Tons Product 0 ooסס‎45‎ ooסס‎45‎ ooסס‎45‎ ooסס‎45‎ ooסס‎45‎<br />

Pricerron 75 76.98958927 77.16848399 78.51617747 78.63647182 80.46999501<br />

Annual Rev 0 34645315.17 34725817.8 35332279.86 35386412.32 36211497.76<br />

Cost/fon 12 12.59777858 13.32471945 13.82229139 14.68769332 15.01128695<br />

Annual Cost 0 21848176.22 23108901.04 23971834.1 25472690.27 26283217.28<br />

Severance Tax 0 502357.07 503524.358 512318.058 513102.9787 525066.7175<br />

Depreciaten 0 0 0 0 0 0<br />

Royalties 0 866132.8793 868145.4449 883306.9965 884660.308 905287.4439<br />

NIBefDepl 0 11428649 10245246.95 9964820.708 8515958.769 8497926.314<br />

Depletion 0 5196797 5122623 4982410 4257979 4248963<br />

Taxable Inc 0 6231851.999 5122623.949 4982410.708 4257979.769 4248963.314<br />

State Tax 0 1033621 949319 938663 883606 882921<br />

Corp Tax 0 2118830 1741692 1694020 1447713 1444648<br />

Net Income 0 3079400.999 2431612.949 2349727.708 1926660.769 1921394.314<br />

Cash Flow 0 8276197.999 7554235.949 7332137.708 6184639.769 6170357.314<br />

MonthlyPV 11.07931197 9.544922546 8.223032863 7.084213533 6.103110886 5.257882518<br />

QuarterlyPV 3.651384127 3.1514114 2.719898392 2.347471124 2.026039169 1.748619896<br />

---<br />

-.<br />

PVRev<br />

0 27557137 23795962 20858431 17997267 15866317<br />

PVCFlow 0 6582972 5176561 4328536 3145462 2703584<br />

PVSevTax 0 395783 342384 300663 259892 229536<br />

PV StateTax 0 814341 645513 550871 447555 385973<br />

PVCorpTax 0 1669326 1184306 994166 733281 631535<br />

PV Roval 0 682385 590317 518384 448089 395751<br />

-<br />

<strong>Information</strong> <strong>Only</strong><br />

Table 1

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