tuesday's presentationI had a long drive today and listened to the presentation twice. Then I listened to the RF ''rant'' about NPV two more times.Here's my 2-cent analysis of what I think is going on:
- In my 6 or 7 years of owning IVN, I've listened to maybe 100 RF interviews and presentations. Other than one or two sentence back hand snarly comments about the 20-something year old bankers he used to have to make elevator pitches to, I never heard him so heated as on this presentation
- if you use an NPV 0 instead of NPV 8 or 10, and depending on how far in time you have the cojones to take the analysis, you can easily multiply the NPV8 valuation by 5 to 10 times. So the 20B USD valuation becomes 100 to 200B USD. And we're talking only about KK, without WF, Kipushi and Platreef. Then you multiply by IVN's % ownership
- The standstill agreement between RF and the Chinese expired last month.
- KK is only part of the equation ( you have to throw back in WF, Kip and Plat), but RF is worried that if the IVN price remains in the 12-14$ range, the Chinese can take controlling interest on the cheap, say 20 to 25$ range, without RF being able to do anything about it, instead of the 80 to 100$ discounted range that RF thinks it should be at soon if the bankers change their valuation methods.
Thus him losing his cool a little bit.