Taylor Dart on Seeking AlphaTaylor Dart seems fixated on NPV/Capex as a a crucial measurement. He seems to have missed the point that Sprott invested on the basis of the 10m oz potential, the long life of the mine, the likely discovery of more ozs and the future development of the mining plan. The existing mining plan (and the NPV/Capex ratio) is based on taking out about 25% of the M&I 4m ozs, so you can be sure that as the ozs mined increases the ratio improves. Analysts have a tendency to be numbers driven, with data blindness, and imo it's the size and potential of the resource and at $1,950 gold, that is exciting. The SPA management have been hopeless at promotion; SPA is a sleeping asset which comes alive with the POG, and the Sprott involvement has been a catalyst for the project. You can be sure he kicked the tyres on the project, and with the second private placement with the warrants he will have invested $17.5m Can and have a 19% interest.
I've been a long on the project for many years. Sure I've taken risk off the table, and I had alot of it. I still have loads however and it remains a big chunk of the portfolio and will remain so.
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