Total Resource SummaryPlatreef Feasibility: 94.7 million oz 3PE + gold, 3 billion lbs copper, 5.88 billion lbs nickel, all at a 2 gm/tonne cutoff. 3PE + gold is now $1000+ per oz, and includes both indicated and inferred. Reserves are limited to the Probable category and so are far lower at 15.23 million oz 3PE + gold, 402 million lbs copper, 670 million lbs nickel. Much of this resource can be converted into reserves down the line. Important to remember resource is still open for expansion. It's a lot more valuable than the official NPV base case value would suggest. I still believe NPV is the best measure, so long as you remember abundant additional resource will eventually be converted to reserves, positively impacting the bottom line in a major way. IVN owns 64%
Kamoa-Kakula PEA Jan 2018: For the 12Mtpa mining scenario, recovered copper over life of mine is 31.58 billion lbs. Kakula is still expanding, and an additional 5.5 km of strike has yet to be added to the resource. IVN owns 39.6%
Kipushi Prefeasibility Jan 2018: Recovered zinc LOM 5.45 billion lbs. This resource also continues to expand. IVN owns 68%
IVN market cap is now $2.04 billion USD, with an enterprise value of under $2 billion. As these projects advance to construction, and Congo issues finally resolve, share price can't help but move irresistibly upwards in response to this vast latent potential. This assumes metals prices hold or improve.