RE:Staged Production and NPVGoldengreen, it is hard to tell from your posts on Excelsior if you think it is a good buy or not at these levels. You are cautious on whether the in-situ will work, I get that. But are you buying at these levels? Are you backing up the truck?
Also, the NPV is already based on a staged startup, if they were going straight to 125 million lbs per year right away, the NPV would be higher. The discount would probably still be the same.
Us longtime longs believe all the milestones you list will be hit, so we think MIN should already be at a much higher percent of NPV. Most of us have put a significant amount of money into the stock already. A lot of us backed up the truck. But of course you have to do your own DD.
So, the question is : are you loading up or are you too worried about execution?