Ann: Papillon Delivers Outstanding PFS for Fekola, page-14

re: Ann: Papillon Delivers Outstanding PFS fo... Denial Vainglorious I gave both you's a thumbs up. I started coding in Excel and then I thought why re-invent the wheel just Google IRR calculator hahaha. Pre tax vs post tax makes a big difference in the numbers. You would think that PIR effective tax rate would be a bit better then 35% and 12.5% discount rate is pretty big. Still there are several listed Canadian developers that have projects just as good with lower sovereign risk and the multiples of their NPV to Market cap are more. Looks like people are watching PIR very intently...Looks like gold is dropping again...