ValuationThe company was clear about the fact that Prosperity was the company maker, in their presentation yesterday, Taseko compared Prosperity to the El Morro aquisition by Goldcorp. They were attributing a value of ~$1 billion to Prosperity. Similarly, management has estimated Harmony and Gibralter combined hold a value of ~$1 billion. In essence Prosperity is 50% of the NPV of this company, by managements own calculations.
Prior to the news the market had been discounting the company with its 3 properties to ~$6.50 per share or approximately $1.2 billion market cap. Without Prosperity, the Mcap should be closer to 50% of this or $600 million/ 187 million shares = $3.21 per share. It is about 2/3rds of the way there in after-hours trading this evening.
Just hoping to provide some insight in to how the inst. holders may look at this tomorrow. The same situation happened to us in Western Copper, it sucks when politics get in the way. Whatever numbers you are using, have your valuations in mind and trade accordingly. Good luck