RE:Heywood -The NPV from the PFS seems a bit low. I know these tend to error on the side of conservatism, but most believe metal prices and the economics of these type projects will increase over time.
The most objective thing to portray in the PFS (or PEAs) would be the size & grade of the mineral resource. The NPV is to a certain degree subjective based upon how the future cash flows from metal sales shake out and what discount rate is utilized to arrive at the NPV.
I am comfortable long-term with NCP due to the fact that we have documented the resource and that the major players (Kaplan, etal) continue to back this project. We have an experienced CEO and he continues to get the word out, even if there isn't much appetite today for this project. We may be half a decade away from our payday, but it will make the sub-two cent share price look like a raging bargain at that point.