Some Discrepancies After perusing some of the posts during the past several months there appears to be some discrepancies in the numbers used for valuation. These would include assumptions of 47M shares outstanding in the proforma company and expectations of $11M - $13M in royalty revenue by 2014. From my review of their information circular and the presentation on the new website, final expected shares outstanding appear to be 62.9M and estimated attributable royalty ounces of 2013 4,800 oz ($8M) 2014 5200 oz ($9M) and 2016 6231oz ($11M) assuming $1700 gold.
I would expect that an extra 33% in outstanding shares and revenue assumptions that would not be realized until two years later would narrow the perceived significant undervaluation considering BPV already at 61 cents now? No?