Detour Gold Corp DRGDF

RE: pfs out-i dont like it

[tigersea]

1. why use 5% discount rate for NPV when the borrowing rate is more likely at 10%+? oh nevermind, I find it. NPV drop to 169M at 10% discount rate, pre-tax. vs current market cap of 525M hmm...

2. IRR is only 20% at 900/oz PRE-TAX - no good

3. 844M capex, assume 30/70 equity financing, need to raise about $270M. expect serious dilution. DGC fell from 13 to 8 with that little 50M financing in June. Guess what the price will be at this financing???

I'd say PASS.