RE:RE:Massive improvement in IRR & NPVDepends of how much dilution.
Initial Capital Cost Estimate (C$ millions) 369.6
I think they will get $220 million in debt
149 million left.
I think they have $50 m in cash already
which leaves ~$100 m.
I think it's reasonable to expect next financing will be at 1 cad or higher. Max 100 m shares in further dilution from here.
550 in total. I compare Victoria Gold with Torex Gold
Torex mcap is at 2,5 m
Victoria at $280 m.
Torex mine has higher NPV but lower IRR and leverage to gold, mcap about 9 x VIT share price.
Victoria is two years behind Torex in construction.
Take VIT share price x 9 and you get ~5 cad. Maybe 4 cad if you include 20% dilution in VIT after final financing at 1 cad.