And in that article, one of their underlying assumptions "We have used a flat long-term gold price of US$1300/oz.". So with every increasing $1 increase in gold right now that's going straight on the profit margin, with all other costs already considered in their valuation. By the time we are at production,price of gold... ??? Much higher than 1,300 according to all projections I have read.
The other glaringly questionable assumption is the resource size, which has already been well covered.
This valuation is, in my opinion, probably very under cooked based on those two variables.
Would love to see them make a revision to this once we increase targets, would be interesting to see what they come back with and where they re-peg their assumptions on price of gold.
VEC Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
