RE:RE:RE:RE:RE:RE:RE:PEAOf course, companies and investors are subject to taxes. Not that they don't ultimately come into play, but they are ancillary items outside of the operating margins of the mining activity. If you start taking into account taxes, why not throw in SG&A or other overhead indirect costs that aren't necessarily included in the calculations? From the perspective of the acquirer, they probably do run some internal calculations that adjust for their particular situation. But when a PEA cranks out an NPV, they have to have a generic figure that is a one size-fits all.
Different companies will pay different tax rates. We read all the time how large companies such as Amazon pay little to no taxes, it depends on each company's unique factors. I don't like looking past the top line as that is uniform for all interested parties.
WRN now has to negotiate with RIO going forward. The negotiations are going to revolve around how much is $3.6 billion (conservatively calculated) present value dollars worth to them. With a payback of only 3 years, Casino will be a cash cow for generations and with the blue sky this will be a producing asset in RIO's portfolio for a very long time.
We know what we are sitting on, as does RIO. Just have to negotiate what is a fair value in a package deal. Personally, I rest assured it will be north of the $13 floor that I have calculated. IF you feel it is worth more or less than that you can adjust your investment decisions accordingly.
Cheers!