NPV only $64.5MM using 10% discount (and if TAM can finance at 10%, pigs can fly) for the first 6 deposits over a 9 year span? A lousy $7MM a year on average? Since R-190 is far and away the most profitable deposit, everything beyond R-190 must be lucky to deliver any NPV (but then, I've been saying that for years...)
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And CONSPICUOUSLY missing are the underlying metal price assumptions to generate that pathetic NPV...Knowing Peggy, the numbers aren't likely to be what one would consider conservative - or realistic...
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So, to generate $65MM in NPV (over NINE years), generously assuming they can finance at 10%, they .need to spend $120MM for P190 and a further $140MM to develop the follow-on deposits?????
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Gimme a break. Nobody should be trying to put PP back into production with those pathetic economics. But since Peg and The Rummy have so much vested interest with their outrageous royalty that is creamed off the top regardless of profitability (or in this case, lack thereof), this play continues to be flogged to the naive and ignorant...
Caveat Emptor.