RE:Value? While patch mentions a billion $ costusing 7.5% discount rate (explorers usually sell between 5-10% P&P value), OP is worth (@3.50 copper) ~750M. UG, if not a write off, is ~100M using same numbers. Further drilling could increase those numbers. NCU sold the PM rights to tripleflag, so 100% copper play.
capital investments for UG are worth 500M (ncu #s), but would be worth MUCH less if UG is a write off.
Mine financing is way beyond me, but ncu marketcap is ~100M, and Pala is (hopefully) dumping 70M into it, so idk why they wouldnt lever that to increase their ownership. Maybe it has to do with TSX rules or kfw agreements preventing a PP raise shortly before a sale. if ncu gets the 70 M and the sharecount stays where it is, there will be a big bump.
So I balance my fear of PP with the potential for a sale of the 4B+ pounds of copper.
corrections welcome because this is all from memory.