RE:For those uninitiatedThis is an excellent point Spacedoc. IRR is huge, particularly in mining, and a revised lower return can crush a stock. Teranga, as you point out, is an excellent example of the negative impact of lowering IRR as it still hasn't recovered against the CEO's best efforts to explain why it's project in west Africa is still extremely viable. Basically investors don't care and the stock continues to take a beating and likely will for some time.
If Nevsun lowers Timok's IRR then seeing new all-time lows for the stock is a real possibility. IMO both Nevsun and Teranga have potential but both could see ridiculous drops in their stock prices beforehand.