RE: RE: RE: RE: Valuation - 17 months from nowDon't get me wrong, NPV and IRR are the best methods to valuate mining stocks and you are way ahead of people rambling about cash flow multiples or in-situ valuations. I was only saying that comparisons between companies need serious normalization before it's of any use.
Regarding Largo, i'm comfortable with Maracas DFS, but cannot get as excited by Northern Dancer. Molybdenum price used was probably little too high considering all the projects in the pipeline. And the project isn't as robust as I would like, for example Sisson Brook seems have pretty similar economics.
I don't know if anyone has followed other "promising" vanadium companies. I think Largo is the only one who hasn't failed, and is truly best in the breed. Energizer resources was supposed to be the top dog before, but they couldn't figure out the metallurgy (atmospheric leaching ). American Vanadium boasted about high IRR and low costs, but it was nothing but low quality PEA that made them look good.
PS. I haven't read all the posts about the subject, but did you add cash on hand (~$110m) to the NPV?