ValuationQuite easy... if someone expect copper to reach 6 usd in the next years you have in excelsior a company with NPV 2 bill vs. 150 Mio cap right now... for a producing company quite a high disagio :-) yes there are delays and yes maybe financing next year BUT for an 99.999% pure copper sheet producer at 12% NPV it is way too low... at the end the delays could be good news if copper prices shot up this year because the higher operational costs will much more be compensated by higher prices ... so maybe luck ...
ps: capital group sold all the 16 Mio shares - yesterday opening the last shares ... so the iceberg hanging for 2 month over the stock has diminished.
glta