IVN is Sui GenerisIt’s in a class of it’s own. I never saw a junior miner with three world class high grade high tonnage projects. There really isn’t another company to compare it with to arrive at a reasonable valuation. Kamoa will probably be mined for at least 50 years, maybe a century. Platreef is another multi decade project. All this talk of EBITDA over five to ten years is meaningless, because IVN is such a desirable takeover target.
It’s also worth considering key metal prices are rising. Copper is projected to hit $4 to $4.5 lb over the next six years (Capital Economics / London) as the supply crunch deepens. Palladium, now $1475 oz and rising is defying all expectations. There is a narrative that electric vehicles are soon going to replace ICE. However, oil production, at a record breaking 100 million barrels a day is telling a different story. They couldn’t afford to produce all that fuel if demand from gasoline engines wasn’t strong. People are buying both electric and gasoline vehicles. Consumers may not have a proper electrical outlet, or they don’t feel like waiting an hour to recharge before hitting the road. Most people have busy lives and can’t afford to sit around and drink coffee for an hour. They may not even be able to spare ten minutes. Or cold temperatures may put electric batteries at a disadvantage. As the number of global consumers grow, there will be strong demand for vehicles of all types. Which is good news for IVN.