RE:TD Securities NAV Analysis Interesting they used $3.5 cu but chart ongoing price every year seemed higher???
10% discount factor? I've always assumed 6% -8% used for base vs gold. Isn't Rio cost of capital like 4-5%???
so they used 10% because this is developer and not producer? Maybe it's because of addl capex required?
How do they assume 0.75 p/NAV is better than 1.1 ??? Maybe because risks with jurisdiction and Mongolian govt?
lastly- they seemed to imply part of reason this is fair offer is based upon premium (60+%) of day prior to announcement and this is well within line of other transactions.