RE: RE: RE: RE: RE: RE: RE: RE: RE: Victoria Gold You have a couple of things off here.
The stream takes gross revenue, BUT that's why they agree to a fixed price to be paid for each ounce - $500-700 seems to be the range in most deals. This accounts for costs of production.
Second, i factored the interest on debt into my numbers. Keep in mind, for senior debt, rates are really low these days - somewhere in the 2 - 4% range, annually, so these numbers are fairly low - but still - take $20-50 million off the profit for the 1st 5 yrs, depending on the amount of debt and rates.
Even if you take double that amount, the market cap is still too low.
The market clearly believes we're either not getting approved, financed or severe (meaning, well over 100%) dilution.