RE:RE:RE:RE:RE:CIBC will buy 10,000 shares at the closeLuxor,
14% NAV discount seems high. It doesn't properly take into account super high grades of ore. All else being equal, one million tonnes 8% copper, is preferable to 10 million tonnes 0.8% copper. There is nothing remotely comparable to KK, Kipushi, or Platreef anywhere. This is masked by the massive discount rate. That's why I prefer the 8% NPV provided by independent qualified professionals in the Company studies. NPV takes into account all revenues, expenses, and taxes, before spitting out a final value. It takes into account every single aspect of the business which will impact the bottom line.
Luxor, If it's possible, perhaps you can find and post the CIBC report. It would be useful to see what assumptions were made to arrive at the final value. I find it hard to believe the richest copper, zinc, and PGM mines in the world are only worth four bucks a share. It implies that nearly all mining stocks are virtually worthless.