An independent desk-based review of the discounted cash flow (DCF) model for mining company URA Holdings’ Gravelotte emerald mine, in South Africa, shows the potential profitability of the project over a 17-year life-of-mine (LoM). The review, conducted by ACA Howe International, revealed a net present value (NPV) before tax at a 10% discount rate of $22.39-million, with an internal rate of return (IRR) of 76%, indicating that the project would turn profitable from the second year of operations.