RE:Ya gotta love the market you are assuming a 1:1 correlation at any moment between POG and VGCX.
Long term, higher POG means higher Victoria value all things remaining the same...So your question is : what is the impact of POG change on Victoria valuaiton.
I am quite sure I saw a NPV calculation in one of the presentation : NPV calculated for different POG and CAD/USD exchange rate but can't find it in my files!
Both componet are important indeed. Sorry I can locate the file !
GLTU