RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:What we need to doHeywood - your math is wrong -
NPV = $2.33B CAD X 79% = $1.84B USD
50% of $1.84 USD = $920M
Fully diluted WRN share count = 158.6M (don't use 150M....use the entire lot....you know all those insiders get LOTS of payday once the sale occurs). Let that sink in and consider an insider with lots of options , etc ....are they willing to take $6 USD or not since it's about 6M shares X $6 less strike price so likely close to $30M value at $6 USD.
So take $920M / 158.6M = $5.8 USD/share.
Even $5B CAD = about $12 USD/share
You state NPV is not correct....but Rio and others are going to state it's just fine!
Again Rio is going to say things like:
1) Lots of risks on capex and it's going to cost more than what PEA shows
2) Risks with permitting/delays/etc
3) Risks with infrasture and Canada actually building the road
So all these examples one could argue are risks NPV too high
Then WRN is going to say things like
1) yeah we hear you Rio....but we know your cost of capital is 4.5% ...not 8% - add $2B to NPV accordingly
2) Ummm..really Rio - look at the PEA again, we only included Phase 1 in the NPV, we included metal prices that are 25% lower than current spot
etc, etc, etc
Bottom line - you heard it 1st from Sooner ---- $6 usd/share!