RE:RE:Valuation rangeThank you for the thoughtful comments and questions. Cap ex costs can most likely be spread out over the first two or so years, which is how Hudbay Mason, Panora Cotabambas and others managed that in their cash flow models.
I did not factor in profit-sharing taxes. I’ll look through the collection of PEAs to see how the other costs you mentioned were accounted for by others and whether that was factored into the cost per pound of production. I didn’t break those out as separate expense items.
Does anyone know how banks look at long-term copper prices when valuing mining projects? Do they use a 2-year trailing average price or some other metric?