NAV for NDM is hugeRaymond James (US) initiated coverage for NDM on July 25, 2007 at the time it was rumored that Anglo would take over NDM.
We all know what happened next... Anglo would pay for everything and get hald of NDM's Pebble East and West.
Stupid retail shareholders massively sold NDM and bailout because 50% of the project was sold out. What a stupid and moronic conclusion!
Anyway, let's not dwell on the pass.
Raymond James did a NAV (at the time) this does not include recent drilling and coming drilling results for Pebble east so NAV can significantly increase futher.
NAV = basicallly the value of the ore under the ground, based on long-term price for Copper, Moly and Gold.
So
Discount rate NAV $ per share
5% 109.92$
6% 84.05
8% 50.55
10% 31.07
Since July 25 2007 two assumptions changed, Fed has been cutting interest rate and L-t prices for Copper-Moly and Gold has gone up significantly.
Conclusion:
NDM is massively undervalued.
I really don't understand why people are rushing into Gold and not into NDM. It's amazing.
Fund managers are stupid, they haven't notice NDM...
But Anglo, Rio, Mitsubichi have and they are the biggest miners in the world.
Low target is 30$.