RE:RE:RE:RE:Dundee Capital Markets comments on Largo Resources Limited"(Not an entirely bad or wrong way to evaluate a mining project). I just was trying to use their way of calculating the NAV to be able to compare."
Sorry mate, but I got a feeling you don't entirely get it. Capex _has_ to be added to NPV (for NAV purposes) after the mine is built, otherwise it's plain wrong. And liabilitities have to be substracted separately, because not all the debt is coming from capex needs.
either way, we agree.