RE: RE: RE: Thinking laterallysome history: gold wheaton paid $150M for 25% of MWS to get it built. Then, Franco Nevada bought Gold Wheaton $830M, whose value was determined by gold stream coming from MWS (25% or 30k oz), Ezulwini (7% or an increasing 3.5k oz to 20k+ oz, let's say it averages ~13k), and FNX/QUX (50% or ~40k oz). 30+15+40 = 83k oz.
Franco Nevada paid $830M for ~83k oz annual production, less production cost of $400.
MWS has a cash cost of approximately $400, so it should therefore be worth $1.2B. FIU owns 75%, or $900M.